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Type: Posts; User: DanielG

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  1. If you are talking tax treatment, you may be...

    If you are talking tax treatment, you may be correct, with the exception that you can't avoid paying payroll tax on all of the money. You need to pay yourself a "reasonable" salary. This salary will...
  2. You are correct; if you plan ahead, you can take...

    You are correct; if you plan ahead, you can take money out as salary. You won't pay corporate income tax on those dollars, but you will owe payroll taxes and personal income tax on them. You also...
  3. Assuming you are a disregarded entity (i.e. you...

    Assuming you are a disregarded entity (i.e. you put your business on your Schedule C) paying yourself is easy. You just take a draw. When you give your books to your accountant, make sure you tell...
  4. You are talking about tax treatment, not whether...

    You are talking about tax treatment, not whether the company is an LLC or a corporation. As an LLC, you can elect S-corp taxation, just as you can with a corporation.

    A bit OT from the original...
  5. For a small business, there's no real advantage...

    For a small business, there's no real advantage to being a corporation. Being an LLC gives you much more flexibility.

    Separate from your company structure is how you're taxed. You have a partner,...
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