View Full Version : Tax Line Assignment
04-25-2008, 01:06 PM
Is there anyone who could help me with tax line assignment for a S Corp.
The accountant we have has not been any help, time to make a change.:confused:
04-25-2008, 01:24 PM
First - the tax line assignment is only there if the account balances are to be transferred to a tax program.
Second - The income or loss flows through to the sharholders - see below With an S corp, the shareholders are required to pay income tax on their share of the corporation's income whether they take any money out of the corporate account or leave it in there.
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