Hello,
is guaranteed payments also available in Turbo Tax Self Employed?
Essentially to reduce taxable income or self employment tax by using guaranteed payment (a salary expense) and leaving the rest of the income in the LLC or applying the Self employment tax to the remainder?
For example, suppose the LLC makes 120,000, can I use a guaranteed payment to self for half the income and leave the rest of the income in the LLC?
If so, is there a place to enter this into Turbo Tax Self employed online?
Thank you!
