Make 200K -- how much would I save on taxes if self-employed ?
| Floppy selfie | 01/23/18 | | disrespectful hairless church | 01/23/18 | | Drunken Rigpig Dysfunction | 01/23/18 | | Hairraiser opaque regret university | 01/23/18 | | Drunken Rigpig Dysfunction | 01/23/18 | | orange jewess | 01/23/18 | | Light Passionate Feces | 01/23/18 | | Soggy native | 01/23/18 | | Floppy selfie | 01/23/18 | | Soggy native | 01/23/18 | | heady wine indirect expression institution | 01/23/18 | | Bull Headed Fiercely-loyal Locale | 01/23/18 | | heady wine indirect expression institution | 01/23/18 |
Poast new message in this thread
Date: January 23rd, 2018 9:54 AM Author: disrespectful hairless church
you'd pay more taxes
(http://www.autoadmit.com/thread.php?thread_id=3868229&forum_id=2#35216493)
|
Date: January 23rd, 2018 9:57 AM Author: heady wine indirect expression institution
I believe this is how you'd benefit under the new tax overhaul:
1. Form S Corporation
2. Pay yourself a reasonable salary (let's call it $50,000, but this is not tax advice and that may be low) and pay normal employment withholding on it (fed tax, FICA).
3. Treat the other $150,000 as dividends. You pay fed tax but no FICA, so do the math. In addition, you now get a 20% below the line tax deduction on that $150,000, so a $30,000 writeoff.
(http://www.autoadmit.com/thread.php?thread_id=3868229&forum_id=2#35216516)
|
|
|