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Business & farm
I agree with the comments above.
One of the reasons people use S-corp. tax classification is to avoid paying self employment tax through K-1 distribution. So as long as your compensation is deemed reasonable, then that amount should be fixed. Any further profit will just be for your wealth building.
Further thoughts. Have you thought about creating a solo 401k plan?
‎August 28, 2024
9:07 AM