I get paid on 1099. But I also have an LLC registered in FL. Can I run the money I get monthly via LLC, as the LLC revenues? How do I file my taxes when I get 1099?

[ThomasM125]

Your argument regarding the owner salary being based on industry standards will be stronger if the company makes enough money so that the owner salary will allow that. So, if the typical salary for a CFO in your industry is $100,000 and your net income is $125,000, then you'd be OK paying a salary of $100,000. But if your income is $60,000 and you pay 80% of that as salary, that is not as strong an argument, since you never got to the level of the standard salary.

[yn-mailbox]

Thank you. Yes, understand it. How reasonable is the salary is very important and IRS is watching it.

I was concerned about moving running what I paid by the client via 1099 to my LLC in principle. Assuming the salary I am paying to myself as my LLC CEO is reasonable in the IRS sense, would it still be a red flag? or it's OK?

[MaryK4]

If you have an SCorp with NO W2 salary AND 1099 to an owner, that is an even bigger RED FLAG because contract labor is a deductible expense so now you are underreporting income- you would still have to pay the employment taxes on it on your personal return so there is no advantage.  @yn-mailbox