3 ms·
That doesn't sound quite right. Dividends, capital gains, and interest are forms of income not requiring FICA right? It seems like FICA should only be for sell
by tocomment 16y ago
That doesn't sound quite right. Dividends, capital gains, and interest are forms of income not requiring FICA right?
It seems like FICA should only be for selling your labor.
I think the 120k figure is wrong too but I'm on an olden first gen iPhone so I can look it up.
- mauricio 16y agoIf you try to declare that all the money you pulled from your LLC was dividends and not a salary, the IRS will bust you. Once you declare a 'fair' amount as salary (and pay FICA), the rest you can pull without paying FICA.