• How to Run 1-Time Payroll as Business Owner

  • Dec 9 2024
  • Length: 18 mins
  • Podcast

How to Run 1-Time Payroll as Business Owner

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  • Summary

  • If you're a solo business owner running an S-corp and haven’t paid yourself a salary yet, this episode is for you! We’re breaking down how to run a one-time payroll (salary) at the end of the year, how to incorporate your 401(k) contributions, and how to withhold additional taxes if needed.


    Resources Mentioned:

    • Article to solo 401k


    Key Topics:

    • How to Run One Payroll at the End of the Year (00:00)
    • The Walkthrough Tutorial in Gusto (01:46)
    • What if you Have a Solo 401(k)? (09:36)
    • Taxes Element and Avoiding Underwithholding Penalties (14:28)
    • Wrap-Up (16:20)


    This Episode is intended to be financial education only and is not intended to be specific tax, legal, or investment advice. Please consult a professional for specific advice. Subscribe to our weekly planning insights newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://mdrnwealth.com/blog/⁠⁠⁠⁠⁠⁠⁠⁠⁠

    If you need specific advice, you can contact us at Advice@mdrnwealth.com or at: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.mdrnwealth.com⁠⁠
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