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July 27, 2021
Question

Are payroll taxes paid from the business required if the only employee i'm paying is myself and i'm the owner?

  • July 27, 2021
  • 1 reply
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1 reply

john-pero
July 27, 2021

If you are paying yourself as an employee it means you are a Subchapter S corporation or an LLC electing to be taxed as a corporation and yes, the business matches your employee deductions for FICA.

 

Otherwise, and I surmise this is the case, you cannot be your own employee if you are an LLC or Sole Proprietor.  Your pay is only owner equity withdrawal and nothing more and no business taxes are due