Business Owner Of Corporation With No Employees

[Adamnan]

s About Taxes)/Business Owner of Corporation with No Employees Advertisement Expert: Ivan Roth - 4/27/2007 If a business owner applies for an EIN as a Corporation(not S-Corp), and wants to put himself on payroll to show income but doesn't have any other employees:

a) Is this allowable?

b) Is the business owner now treated as an employer for normal payroll taxes even if there are no other EEs on the payroll? Obviously the business owner is also responsible for their ER taxes as well(Futa, ER FICA, etc)

[Roswalt]

Rose before an owner can apply for an EIN for a  corporation the corporation must have all the requirement and be granted corporate status by the Secretary of the State

For a business with no employees life is simpler without payroll there is no advantage paying for unemployment taxes because the state does not recognize  unemployment claims from owners.

All business items including health insurance employer FICA profit sharing(SEP) get rolled itno the 1040C so the best is stay as an individual and draw cash as needed in lieu of pay.

But be sure that quarterly estimated including self employment tax are filed quarterly