USA Too late to pay more wages for S Corp???

[Jill O. Sum]

This was my first year as an s Corp. I talked to a CPA earlier in the year who said I could get away with paying myself only 10% of net profit as wages, so I paid about 11 or 12. Now I'm freaking out bc it just seems too good to be true. And if so, how could I correct it at this point? Is it too late to do another paycheck (back pay? bonus?) and corrected w2? Or just pay extra wages this year to balance it out?? How much?? Details: One owner, no other employees, home improvement, gross 100k, net 50k, wages 7k, dividends 40k. Thanks.

 

[Drmdcpa]

Stop worrying and listen to the advice already given to you.