u/Helpful-Butterfly703

Hello Reddit! New to this sub. I co-own a business with two friends and we just celebrated our first year of being open! A very hard and very rewarding ride it has been.

When we finished our taxes, the person filing for us recommended we get ourselves on payroll. After some researching, this seems to only benefit her and not us (the members)?

We split profits 33/33/34 respectively. So far we just write ourselves checks and categorize as payments to partners. From what I've read, if we want payroll we'd need to reclassify as an S-corp AND file for withholding tax.

Does anyone have experience with this? I've already reached out to another CPA for an opinion. Thanks!