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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?...
frum grizzly school cafeteria fat ankles
  07/10/20
...
frum grizzly school cafeteria fat ankles
  07/10/20
Pretty much.
curious maize useless brakes
  07/10/20
What are you trying to do here? Split the brackets? Avoid pa...
startling menage
  07/10/20
A one member LLC without employees can elect to file as an s...
frum grizzly school cafeteria fat ankles
  07/10/20
cr
Emerald duck-like dog poop
  07/10/20
Cost of extra return plus discounted cost of getting caught ...
startling menage
  07/10/20
Lol caught doing what? My understanding is this is perfectly...
frum grizzly school cafeteria fat ankles
  07/10/20
Getting caught paying yourself a reasonable salary?
curious maize useless brakes
  07/10/20
@realdonaldtrump: Some jurisdictions don't respect the S-cor...
Zippy Station
  07/10/20
Sole prop and let do.
aromatic site puppy
  07/10/20


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Date: July 10th, 2020 4:21 AM
Author: frum grizzly school cafeteria fat ankles

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: frum grizzly school cafeteria fat ankles



(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: curious maize useless brakes

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: startling menage

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: frum grizzly school cafeteria fat ankles

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: Emerald duck-like dog poop

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: startling menage

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: frum grizzly school cafeteria fat ankles

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: curious maize useless brakes

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: Zippy Station

@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: aromatic site puppy

Sole prop and let do.

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