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Short answer, no. I'm an accounting student. As others have said, it might behoove you to check in with an accountant. Paying yourself through a company that do
by formerkrogemp 5y ago
Short answer, no. I'm an accounting student. As others have said, it might behoove you to check in with an accountant. Paying yourself through a company that doesn't make any money isn't likely to work. I'll check up on my sources and see what would happen if you did pay yourself a salary. I think you'd just pay taxes on it or it might just qualify as a return on capital if it's just your money.
- neallionet 5y agoYes, it's 100% my own money. It seems my question was perceived in an unintended way - Why I'm asking here is because I don't want to pay a salary to myself and get double taxed, unless there is some legal/tax requirement that prevents me from working on growing the company without a salary. Thanks for the short answer.