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One thing you can do to decrease your taxes is form an S-Corp. That allows you to pay yourself a moderate salary of 50K a year on which you pay all the income
by sheats 16y ago
One thing you can do to decrease your taxes is form an S-Corp. That allows you to pay yourself a moderate salary of 50K a year on which you pay all the income taxes. The rest you make you can take out as dividends and only pay dividend taxes on it.
- ryanwaggoner 16y agoGet a good CPA before you try this; the IRS takes a very dim view of people doing this where the revenue is all based on a service that 1 person is offering.