Edited: I realize now what you were saying after correcting my K1.You're saying to not issue myself a W2 and to take 0 salary and make everything distributions/...
Thanks. Yes I know that I was suppose to be withholding, but it was my first year in business so I'm learning, making mistakes.So what should I do now? I was su...
Thanks for the reply.We are in a house flipping business, so we split the profits 50/50 after closing each sale.We did not withhold anything all year knowing we...
MinthT1, Your second part is not true. The IRS does not care if you don't claim all the deductions you are entitled to. I don't see why they would. You are payi...
