When I formed an S corporation, I discovered that I had to be paid. The business currently only makes $24k, with $17k in profit the previous year.
I know that when income rises, an S corporation would be more advantageous, but this is what I have to deal with for the time being.
That’s the reason I’m searching for an affordable payroll provider. I’m trying to stay on Uncle Sam’s good side since I’m broke. For now, my preference is Gusto. I’d like to pay less.
When I started my S corporation, I was in a similar situation with a modest income and profit. I found that managing payroll on a tight budget was challenging, but Gusto was a lifesaver for me. It offered a good balance of affordability and functionality, which was crucial for staying compliant without breaking the bank. I recommend exploring Gusto and comparing it with other providers to ensure it fits your needs and budget. Keeping your payroll processes streamlined and compliant can help you focus on growing your business without worrying about tax issues.