1. Collective Dashboard - Payroll Setup
Updated over a week ago


Payroll is complicated! Setting up payroll is even more complicated.

This video walks you through the Payroll Set Up in your Collective Dashboard.

It is a MUST WATCH before your first attempt.

Reasonable Compensation

How much should I pay myself? While you are setting up your payroll mechanics, there will be a section related to your reasonable compensation. An S Corp owner has to receive what the IRS deems a “reasonable salary” — basically, a paycheck comparable to what other employers would pay for similar services. If there’s additional profit in the business, you can take those as distributions, which come with a lower tax bill. Please Review the following articles for more direct help to establish your reasonable compensation.

How to Pay Yourself the Right Way

Email [email protected] if you run into any questions not covered in the video.

Disclaimer: The information contained in this document is provided for informational purposes only and should not be construed as financial or tax advice. It is not intended to be a substitute for obtaining accounting or other financial advice from an appropriate financial adviser or for the purpose of avoiding U.S. Federal, state or local tax payments and penalties.

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