What should I do with left over money from S Corp?
The left over money from the S-corp after payroll and expenses is roughly 25% Do I file 1120S & Sch K1 and move the money into my personal bank account and call it Distributions? If I need money for my business account do I move it back and call it Capital Contributions? or do I leave the money there and pay taxes and call it Retained Earnings? What's the best practice here?
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