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Posted by Benjamin Yazersky CPA on January 18, 2007, 3:23 am
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> I have 1 employee (self) in a S corp. I have worked many
> hours in november and december 2006 but just got my payroll
> service setup this month. I would like to pay the employee
> an accurate wage for 2006 so it does not look like the S
> corp made money 2006 and failed to pay any wages.
>
> How do you reccomend I proceed with this situation? The
> payroll service is of no help to get 2006 straightened out.
I don't know if there is a proper/technically correct answer
that doesn't incur penalties. ... and then there is your
state to deal with.
Most situations I've encountered tend to look for some
shortcut that just aint kosher.
If it is an employee, the 1099MISC approach is NOT correct.
I generally won't touch it unless the taxpayer wants to come
clean.
___________________________________
<<< Benjamin Yazersky, CPA [NJ & NY] >>>
-----> real address on hobokeni or hobokenx <-----
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<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
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