3 ms·
If you're spending the money on the business, how can they count it as income? Shouldn't only your salary count as income? (which may very well be 0)
by skizm 10y ago
If you're spending the money on the business, how can they count it as income? Shouldn't only your salary count as income? (which may very well be 0)
- nodesocket 10y agoAs far as I understand, while I can write off deductibles my personal and business income is combined at the end of the year since I am 100% owner of my California LLC thus giving my inflated annual income.
- drm237 10y agoYour total income that you would report on your personal income tax return should be your personal salary plus your business profit for a single member LLC.
- nodesocket 10y agoCorrect that is it, any personal income plus the business profit.