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Paid myself less than I made from my LLC, self-employment taxes are way too high
I have a single-member LLC. I made $250k last year with $100k in expenses. I only paid myself $60k in salary; however, in TurboTax it's showing I have to pay taxes on the entire $150k difference instead of the 60. Where can I enter that discrepancy so that I only pay self-employment taxes on the 60k? I am using the TurboTax self-employed package.
Thanks,
Thanks,
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May 31, 2019
6:40 PM