Is there a rule of thumb on how much an s corp owner can pass through or take as a distribution compared to w2 wages? Like a % of wages
There are no specific guidelines (i.e., no rule of thumb).
There are factors that are considered in making the determination as to what constitutes a reasonable salary.
See https://www.irs.gov/pub/irs-news/fs-08-25.pdf
See also https://www.aicpa.org/resources/article/s-corporation-reasonable-compensation
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