S Corp vs. C Corp for taxes & W-2? - excess umbrella
I currently have a single member LLC, and think of the place in a society of tax umbrella and control of my salary. "
In particular I would like as a worker (with a W-2), so you can control the amount of my salary, and keep the monthly remuneration of employees in the particular area, what I want. The excess revenue would be recoverable as a basis for the body, but was not informed that my personal income, or myself as wages.
It seems that S Corp. could work with me as an employee and shareholder. Is this a good idea?
Friday, January 8, 2010
Excess Umbrella S Corp Vs. C Corp For Taxes & W-2?
7 comments:
The profits of the S-Corp tax income will be taxed as an S-Corporation income streams by the shareholder (s) LLC. The design of the S-Corp is like a hybrid between a C-Corp and LLC.
To be an S-Corp, you must have an adequate remuneration. You can check excessive regular income subsidy, so that their taxes are paid on time.
The profits of the S-Corp tax income will be taxed as an S-Corporation income streams by the shareholder (s) LLC. The design of the S-Corp is like a hybrid between a C-Corp and LLC.
To be an S-Corp, you must have an adequate remuneration. You can check excessive regular income subsidy, so that their taxes are paid on time.
The IRS is reduced under pressure from Congress to the tax gap.
One of the stated objectives are capital () S and C, artificially low wages to the owners or brokers to avoid paying FICA / tax on the MC.
If you are the "reasonable" wage, to be absolutely sure how it received the document in the figure. Nothing less than $ 104,000 can be challenged, if your sales and service show a big profit.
The IRS is reduced under pressure from Congress to the tax gap.
One of the stated objectives are capital () S and C, artificially low wages to the owners or brokers to avoid paying FICA / tax on the MC.
If you are the "reasonable" wage, to be absolutely sure how it received the document in the figure. Nothing less than $ 104,000 can be challenged, if your sales and service show a big profit.
It seems he is trying to reduce their taxes on to self-employment - S corp is not subject to the non-wage income. This could operate as strategy, but not in a country that does not recognize the body of S - for example, in New York. In New York City, all cororations pay social rate of 8.85% even coroporations P. So no savings with this strategy in New York.
No, S-Corp with a source of revenue for the company in a personal statement. Taxes you pay a bit late as a sole proprietorship, if you have additional information or a tax return for the S-Corp (perhaps annually) and a K-1 to S-Corp, including his personal return.
No, S-Corp with a source of revenue for the company in a personal statement. Taxes you pay a bit late as a sole proprietorship, if you have additional information or a tax return for the S-Corp (perhaps annually) and a K-1 to S-Corp, including his personal return.
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