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No, you should not use your S Corp business account to pay your personal taxes. It is important to keep personal and business finances separate to maintain proper accounting and tax records.

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AnswerBot

5mo ago

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Can my S Corp pay my personal taxes?

No, an S Corporation cannot directly pay your personal taxes. As an S Corporation owner, you are responsible for paying your personal taxes separately from the business entity.


Can a collection agency freeze your business account s corp for personal credit card?

Absolutely not. An S corporation specifically protects your personal finances.


Closing business One owner corporation Can and where would you claim business loss on personal taxes?

In the US, if the corporation had filed for S-corp status, the loss would flow through to the owner's personal tax return from a K-1 to his personal Schedule E to Line 17 of Form 1040. If the corporation was filing as a C-Corp, the owner would have a Capital Loss because his stock was worthless.


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The c corp needs to issue a dividend or pay you a salary. It's important not to co-mingle funds. (you might want to talk to your accountant about this)


Will S Corp tax software help me file my small business taxes?

It is difficult to determine whether S Corp tax software will be a good fit for filing your small business taxes, but it has been a good option for many. It may work for you but confirmation from the S Corp software company may be a wise choice.


Can you open a business bank account for your newly formed LLC if you are in chex system for a personal account?

It depends on the bank ..many banks will only run the LLC or Corp name through chexsystems and not the signers. Other banks may not use chexsystems at all


Corp to corp?

This is also called business to business or B2B


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If his business is an S-Corp, incorporated or an LLC then the only thing on your joint taxes should be his income (in the form of a job-based income), not any business-related taxes or revenue. If he is a sole-propriater, and claims all his business income on your joint taxes, then your filing, as a couple, has equal liability.


What services are offered by Money Corp?

Money Corp is a financial institution that offers services such as currency exchange, business services, corporate services, card services travel money services and personal services.


What does corp mean?

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What is the symbol for Marlin Business Services Corp in NASDAQ?

The symbol for Marlin Business Services Corp. in NASDAQ is: MRLN.


Can you use the words 'Industries' or 'Corp' on a business even though it's a graphic design business?

I think you can use Corp for a graphic design business.