Would like some input on the following issue that I am having:
I created a Holding company (I own 100%) to pay all employees that are working for three operation companies (I own 100% of each). The operation companies fund the Holding companies for their portion of the weekly payroll which is 100% of the payroll allocated in accordance to how much time each employee work in the 3 operation companies.
How do I show the payroll in the three operation companies when I prepare their tax returns?
I appreciate your input and thank all in advance.