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S Corp LLC P/L pass through to owner
As the sole owner of a new S Corp LLC I believe any profit I earn at the end of the year will be passed onto my personal tax return. Will I be required to pay self-employment taxes on this profit? Also, if there is a loss will the loss be passed on to my personal taxes? Would a profit or loss be treated the same by New York State and the Federal government?
‎August 30, 2023
10:52 AM