Preppy in Pink
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However, I don't currently pay myself a wage. Currently it is gross 100k net 20k. I reinvest the 20k in inventory.
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Correct.
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If I pay myself under the s-corp i would prob have to report a loss on the K-1. I'm paying myself the 20k that would have been profit as a sole proprietor but i...
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The company makes 100k. As sole proprietor I file jointly with my husband. We pay 11% in Tax a year after deductions.My student loan payment is based on the com...
Activity Feed for Preppy in Pink
- Posted Re: TAX BENEFITS: If I am self employed sole proprietor and the company makes 100,000 + 100,000 from my husbands salary versus paying myself 20,000 through a S-Corp ($20,000, i.e. 20% is my approx profit) . I'd like to lower my total taxes and lower my student loan payment. on Business & farm. October 9, 2019 5:31 PM
- Posted Re: TAX BENEFITS: If I am self employed sole proprietor and the company makes 100,000 + 100,000 from my husbands salary versus paying myself 20,000 through a S-Corp ($20,000, i.e. 20% is my approx profit) . I'd like to lower my total taxes and lower my student loan payment. on Business & farm. October 9, 2019 5:24 PM
- Posted Re: TAX BENEFITS: If I am self employed sole proprietor and the company makes 100,000 + 100,000 from my husbands salary versus paying myself 20,000 through a S-Corp ($20,000, i.e. 20% is my approx profit) . I'd like to lower my total taxes and lower my student loan payment. on Business & farm. October 9, 2019 5:01 PM
- Posted Re: TAX BENEFITS: If I am self employed sole proprietor and the company makes 100,000 + 100,000 from my husbands salary versus paying myself 20,000 through a S-Corp ($20,000, i.e. 20% is my approx profit) . I'd like to lower my total taxes and lower my student loan payment. on Business & farm. October 9, 2019 4:55 PM
- Posted TAX BENEFITS: If I am self employed sole proprietor and the company makes 100,000 + 100,000 from my husbands salary versus paying myself 20,000 through a S-Corp ($20,000, i.e. 20% is my approx profit) . I'd like to lower my total taxes and lower my student loan payment. on Business & farm. October 8, 2019 9:33 PM