S Corp Distributions Read the three lines together.

One screen, three lines.

When the records are ready, we look at them together on a video call. The screen shows three lines and nothing decorative. The wage statement, or the payroll history if the statement is not out yet. The cash that left and was not pay. The basis worksheet, Form 7203 used as a worksheet, with contributions and distributions still unnetted.

You stay where you are. We stay where we are. The call needs no city and no highway. A shared screen is enough. A phone call first is the same practice, using the number in the footer.

We do not record the call as a substitute for the books. The books remain the record. The call is how we point at a line without making you guess which line we mean.

What we want on the screen before we start.

Payroll reports for the year, even if they are thin. Bank activity for the transfers that were not payroll. Any note someone thinks makes a transfer a loan. The latest closed month, or an honest statement that the month is still open. Coverage invoices if the company paid health premiums for an owner who holds more than two percent.

We do not want a shoe box of everything. Five clear exports beat a folder of photographs of paper. If an export is missing, we name it and we wait. A screen share of a blank cell is a waste of the call, and we would rather move the call than narrate a gap.

Figures stay in your file. The call is where they can be discussed under an engagement, or where a free conversation can decide whether an engagement makes sense. The public pages never receive those figures.

What the call will not become.

The call will not become a ratio. If the three lines are on screen and someone asks for the famous split, we still will not print it. Those three lines are as far as the public answer goes. A percentage is not hiding between them.

Looking at a screen together does not produce a signed audit, review, or compilation. A lender cannot rely on the call as that report. When the signature is required, we say so, and a firm allowed to sign the report takes the request.

The call will not become payday. If the wage needs to change and the year is open, we tell the payroll provider's setup what to change. The provider runs the next payday. October is early enough for that when paydays remain. A closed year does not grow new paydays because a call was pleasant.

Start with wages, basis, and a time when you want the screen.