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M
mo3712
January 29, 2024
Question

New S corporation in 2023

  • January 29, 2024
  • 1 reply
  • 0 views

Hi there, 

 

I set up an S corporation in 2023 but did not begin receiving an revenues until 2024, so I operated at a loss in 2023 with only set-up expenses but no income. Do I need to pay myself wages for 2023 if I had no income?

 

Thanks for your help!

1 reply

M
MinhT1
January 29, 2024

If your S-Corp has no income yet in 2023, it's OK not paying yourself a salary.

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