soleproprietorship - can i pay myself an actual payroll check and withhold taxes?

elliemae0418 · #1 Apr 29, 2008, 04:38 PM

as a soleproprietor can i legally pay myself a regular payroll check and withhold payroll taxes as well as pay taxes through quarterly self employed taxes paid directly to IRS?

delite · Apr 30, 2008, 08:07 PM

Quote:

Originally Posted by elliemae0418

as a soleproprietor can i legally pay myself a regular payroll check and withhold payroll taxes as well as pay taxes through quarterly self employed taxes paid directly to IRS?

as a sole proprietor you make withdrawals from the business which will be treated as distributions to soleproprietor. estimated taxes, et al should be set up and paid,at the end of the year all withdrawls are considered salary subject to federal and local taxes



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