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.