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I am the owner and only employee of my company. How do I make a single payroll and direct deposit?
Is there a simple guide line to follow?
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Management and Operations
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Based on IRS guidance, if you are a sole proprietor, you can take a draw from you business account, but payroll withholdings do not apply. This is something you should discuss with your accountant or tax professional for clarification. You can also find guidance about this issue on the IRS website, here.
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Based on IRS guidance, if you are a sole proprietor, you can take a draw from you business account, but payroll withholdings do not apply. This is something you should discuss with your accountant or tax professional for clarification. You can also find guidance about this issue on the IRS website, here.
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