1120S Dividends

[jkorejwa]

Please advise regarding the correct procedure to issue dividends to shareholders through out the tax year. I am contemplating the 1120S writing a check categorized as "dividend" sporadically as funds are available as opposed to issuing a single year-end dividend.

[blohm515]

Greetings,

I have a new business client who I am doing his business and personal returns. I looked through his previous business returns (1120S) and noticed that the CPA that did the previous returns never reconciled the balance sheet with the QuickBooks balance sheet. Now, many years later, the balance sheets do not match. What is...

[appelman]

I seem to attract this sort of client. I have a new client with a one-person S-Corp that has never, in its six years of filing, reported any distributions. As a result of this, and other errors by his previous preparer, his Schedules M-2 are a mess. (Schedules L and M-1 are not required.) He has plenty of basis, so there are no immediate tax consequences....