How to Run 1-Time Payroll as Business Owner
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How to Run 1-Time Payroll as Business Owner
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About this listen
If you're a solo business owner running an S-corp and haven’t paid yourself a salary yet, this episode is for you! We’re breaking down how to run a one-time payroll (salary) at the end of the year, how to incorporate your 401(k) contributions, and how to withhold additional taxes if needed.
Resources Mentioned:
- Article to solo 401k
Key Topics:
- How to Run One Payroll at the End of the Year (00:00)
- The Walkthrough Tutorial in Gusto (01:46)
- What if you Have a Solo 401(k)? (09:36)
- Taxes Element and Avoiding Underwithholding Penalties (14:28)
- Wrap-Up (16:20)
This Episode is intended to be financial education only and is not intended to be specific tax, legal, or investment advice. Please consult a professional for specific advice. Subscribe to our weekly planning insights newsletter: https://mdrnwealth.com/blog/
If you need specific advice, you can contact us at Advice@mdrnwealth.com or at: https://www.mdrnwealth.com
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