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Great, then he gets to pay double tax on all of his side project income - and deal with the fun of things like having a board? If you aren't PLANNING FOR SURE
by brianwawok 10y ago
Great, then he gets to pay double tax on all of his side project income - and deal with the fun of things like having a board?
If you aren't PLANNING FOR SURE to get investment.. C corp is a pretty awful thing to voluntarily subject yourself to.
- fencepost 10y agoIANAL and don't have a C Corp, but doesn't that depend a lot on how you're being paid? I know "double taxation" is the bogeyman and is undoubtedly an issue in some cases, but for truly small setups of expect taxes to either be passed through S-Corp style or for larger businesses to be low because a lot of income may be offset by expenses (e.g. paying a salary or wage for time spent).