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Review Owner Distributions

 

Owner Payments

Owner Payments

For different business entities, payments to owners may be run through payroll, treated as guaranteed payments to partners, or as dividends, owner draws, or distributions from capital accounts.  Make sure any payments made to your winery owners have been properly treated.

For s-corporations, it is important that owner payroll be “reasonable” which can include many factors such as total company profit and industry averages for similar salaried positions. 

Many payments from partnerships will be subject to self-employment tax as well as income tax. 

December is a great time to discuss with your tax professional how any owner payments and business profits will be treated for tax purposes, and if a 4th quarter estimated tax payment would be recommended.

Stay Well and Be Informed

Current Updates are Available Via Our Website

We have written articles explaining legislative activity related to income and employment tax (as information changes hourly, we are adding dates to this content.) 

We have a central location for tools and news related to coping with the impact of Covid-19 here

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We are here to offer you help and support, especially now, during this time of global uncertainty.

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Email individual team members directly or if you call us at the office please call 707-963-4466, extension 210 to put all messages in a central place.

Stay well,
The BDCo Team

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