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one of the biggest questions we get about ask corporations is what changes with your bookkeeping so today were going to discuss the various things that do change when you become an S corporation in what you need to take care of with your bookkeeping hi Im Tony Cameron with TLDR accounting and today were going to be discussing the things that change with your bookkeeping when you become an S corporation alright so the biggest change and youve heard me say it before is payroll so reasonable compensation is a thing setting up payroll is a thing payroll does change your bookkeeping and it can be a lot of work you need to make sure your w-4 is filled out for you as an employee your i-9 is filled out your new hire paperwork with Washington and that doesnt even include the forms that you need a file with on a federal level like your 940 ones each quarter you 940s to be honest we recommend you either go with a full-service payroll company or you go the online company to run your payroll w