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Business & farm
Thanks, but I didn't say I would not pay myself a reasonable salary. If after paying myself a reasonable salary, commensurate to my experience, then the corporate taxes that I pay on the remainder, do I have to pay estimated taxes on an LLC filing as S-Corp for that amount (the amount I am paying myself as salary will be on my own W-2, and taxed normally.
So for example, the LLC earns $50,000. I pay myself $30,000 (which is normally taxed). On the $20,000, if I earn only $1000 by April 18, do I need to pay estimated taxes on that $1000. Also, if that money is not "realized" (i.e. in the business bank account) by May 1st, do I still have to pay estimated taxes on that $1000?
Thanks.
So for example, the LLC earns $50,000. I pay myself $30,000 (which is normally taxed). On the $20,000, if I earn only $1000 by April 18, do I need to pay estimated taxes on that $1000. Also, if that money is not "realized" (i.e. in the business bank account) by May 1st, do I still have to pay estimated taxes on that $1000?
Thanks.
May 31, 2019
5:34 PM