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Get your taxes done using TurboTax
My question pertains more closely to designating a salary of a sole owner of an S Corp. Lets take the $7,000 profit for example. I set a salary for myself to let's say $1,000 and use the remaining $6,000 to pay off the mortgage loan (Reinvesting in my business to lower future interest rate cost). Could this be done? And if so what do I pay taxes on?
‎June 6, 2019
1:17 PM