- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
the best advice. sit down with a tax pro. they can crunch actual numbers to give you the advice you seek. In your situation, there are many moving parts the affect one another. I can tell you as an MD the IRS would want to see a larger portion of the net S-Corp income be paid out as salary. failure to do so can result in a nightmare from a tax standpoint.
just a few of the moving parts that affect one another - salary vs net SE income for FICA and Medicare purposes, The QBI deduction, retirement plan contributions, health insurance premiums.
‎November 7, 2021
10:36 AM