How does one account for the 18K at the year's end ??
I have a C Corp for my solo practice. I get paid a W2 from my office, do I account these 18k under the practice or under my personal name ?.
I understand the money will be coming as a direct deposit into my office bank account, as other medicare moneys get deposited.
It probably gets accounted under the practice name, but I remember I had to sign as an individual(Individual SS #) during the attestation and that is what is raising the question in my mind.
I wonder how others are accounting for it, for a S corp it should not really matter as there is only one tax return which includes the accounting of personal & as well as the practice incomes. In case of C corps, we have 2 Tax Returns ..i.e.. one for the office and one personal.
Any opinions or info about how other C corps are doing it will be much appreciated.
Thanks & regards
