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But couldn't you keep that money in a bank account and spend it on 'business expenses' without paying yourself a wage?
by krashidov 10y ago
But couldn't you keep that money in a bank account and spend it on 'business expenses' without paying yourself a wage?
- rahkiin 10y agoAt least in the Netherlands, that is not allowed. With an LLC you have to give yourself a living wage. Also, if you mark them as profit (not pay them to your employee (yourself)) you have to pay corporate tax. You also can't just deduct your breakfast.
- chongli 10y agoWhat if you share your breakfast with your spouse who also happens to be an employee? Then breakfast is actually a meeting!