My question was can I choose to withhold accepting a wage as an officer, if so, how would I go about doing so? Would I have to create some form of legal document similar to a deferred compensation agreement?
Or is the only option to pay myself a fair wage or dividends, then pay tax on the $10,000 minus the deductions, and then hold the excess income as retained earnings?
In other words, if the corporation makes $10,000 net income is there any legal way that I can just keep that income within the corporation without paying myself a wage as an officer even though I worked full time for the corporation?
Just to confirm, you saying that is not possible to keep the income within the corporation if I can find a legal way to not pay myself a wage by using some legal arrangement such as deferred compensation?
