Anonymous
Not applicable

Get your taxes done using TurboTax

Thanks

 

So paying yourself $154000 on a total trade income of lets say $450000 be fair (I multiply by 3 earlier numbers). This way IRS is getting FICA maximum ($142800 is the cap for 6.2 +6.2). Medicare has no Maximum anyway.

 

As cooperation or any business make more and more money their managers make lot less in percentage. If idea is owner should take half of profit as salary, most CEOs would love to hire you as business consultant. I think  salary for top manager is combination of  profits from business and comparison salary for similar job.  You are only using my earlier example when I corrected my hypothetical to be more in line with a 'Trader Salary". You can check out glass door. Most trader listed salary is not even $100 k even in New York area.

 

$154000 is a **bleep** good salary for a Trader in a Hypothetical example.