Dr. Friday 0:00
Good day. I’m Dr. Friday, President of Dr. Friday’s Tax and Financial firm. To get more info go to www.drfriday.com. This is a one-minute moment.
Dr. Friday 0:12
Sub S corporations, you need to listen up. If you’re operating under a small business corporation and you are not paying payroll, you are probably going to look at an audit coming very soon, especially considering they have hired up to 85,000 new auditors. That being said, any corporation C corporation or Sub S Corporation, part of the rules it says right under the IRS is there has to be people on payroll and if you are a shareholder that is working for that business, you should be on payroll taking dividends not paying Social Security tax that’s going to bite you later on. If you need help, go to drfriday.com.
Announcer 0:51
You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm on 99.7 WTN.