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Solos: no brainer to file as an s-corp for tax purposes if you make above 100k?

Ie above what you could pay yourself as a reasonable salary?...
Adventurous Voyeur Range
  07/10/20
...
Adventurous Voyeur Range
  07/10/20
Pretty much.
heady site
  07/10/20
What are you trying to do here? Split the brackets? Avoid pa...
big lake center wrinkle
  07/10/20
A one member LLC without employees can elect to file as an s...
Adventurous Voyeur Range
  07/10/20
cr
titillating whorehouse
  07/10/20
Cost of extra return plus discounted cost of getting caught ...
big lake center wrinkle
  07/10/20
Lol caught doing what? My understanding is this is perfectly...
Adventurous Voyeur Range
  07/10/20
Getting caught paying yourself a reasonable salary?
heady site
  07/10/20
@realdonaldtrump: Some jurisdictions don't respect the S-cor...
Abusive Histrionic Telephone
  07/10/20
Sole prop and let do.
tripping vibrant ticket booth macaca
  07/10/20


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Date: July 10th, 2020 4:21 AM
Author: Adventurous Voyeur Range

Ie above what you could pay yourself as a reasonable salary?

(http://www.autoadmit.com/thread.php?thread_id=4580622&forum_id=2#40578582)



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Date: July 10th, 2020 3:12 PM
Author: Adventurous Voyeur Range



(http://www.autoadmit.com/thread.php?thread_id=4580622&forum_id=2#40581412)



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Date: July 10th, 2020 3:19 PM
Author: heady site

Pretty much.

(http://www.autoadmit.com/thread.php?thread_id=4580622&forum_id=2#40581466)



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Date: July 10th, 2020 3:32 PM
Author: big lake center wrinkle

What are you trying to do here? Split the brackets? Avoid payroll tax? If you're truly a solo this is largely bullshit, you're not performing any management activities. Though you'll probably never be called on it.

(http://www.autoadmit.com/thread.php?thread_id=4580622&forum_id=2#40581559)



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Date: July 10th, 2020 4:15 PM
Author: Adventurous Voyeur Range

A one member LLC without employees can elect to file as an s corp with the member paying himself a salary as the only employee. My understanding is doing that exposes the member to payroll taxes only on that amount paid in salary instead of the gross income generated by the LLC that tax year. If youre making well above whatever a reasonable salary would be, that would seem to save you quite a bit in payroll taxes.

(http://www.autoadmit.com/thread.php?thread_id=4580622&forum_id=2#40581955)



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Date: July 10th, 2020 4:15 PM
Author: titillating whorehouse

cr

(http://www.autoadmit.com/thread.php?thread_id=4580622&forum_id=2#40581961)



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Date: July 10th, 2020 4:25 PM
Author: big lake center wrinkle

Cost of extra return plus discounted cost of getting caught and paying penalties plus cost of future lost social security payments makes this a borderline bet imo. But good luck.

(http://www.autoadmit.com/thread.php?thread_id=4580622&forum_id=2#40582050)



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Date: July 10th, 2020 4:26 PM
Author: Adventurous Voyeur Range

Lol caught doing what? My understanding is this is perfectly legal.

(http://www.autoadmit.com/thread.php?thread_id=4580622&forum_id=2#40582058)



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Date: July 10th, 2020 4:41 PM
Author: heady site

Getting caught paying yourself a reasonable salary?

(http://www.autoadmit.com/thread.php?thread_id=4580622&forum_id=2#40582156)



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Date: July 10th, 2020 3:34 PM
Author: Abusive Histrionic Telephone

@realdonaldtrump: Some jurisdictions don't respect the S-corp election. BE CAREFUL!

(http://www.autoadmit.com/thread.php?thread_id=4580622&forum_id=2#40581583)



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Date: July 10th, 2020 4:22 PM
Author: tripping vibrant ticket booth macaca

Sole prop and let do.

(http://www.autoadmit.com/thread.php?thread_id=4580622&forum_id=2#40582022)