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"...you owe FICA on your compensation". Exactly. I want to be taxed (and get the same breaks) as my corporate client employees. Business writes off all pos
by jabits 16y ago
"...you owe FICA on your compensation". Exactly. I want to be taxed (and get the same breaks) as my corporate client employees. Business writes off all possibly related equipment, as do I. I try to write off everything a C-corp would for employees, but it is much more difficult for us (and very time-consuming even trying to be IRS-compliant).
Again, payroll tax savings (on the income/distribution differential) does not usually add up to that much money.