M-MTax
Level 12

Business & farm

I would strongly suggest you discuss your plans with a paid professional. 

 

If you read the original post, @nickam already did discuss these plans with a paid professional. The result was this:

 

"Why is everyone advising me against it including my CPA"

 

I guess the result is looking for validation under every rock. My point is if you're going to be rolling the dice, at least be aware that's what you're doing.

 

 

Also be aware that you have to factor in state/federal unemployment tax as you will be an employee of your S corporation (LLC-B with an S corporation election).