Finance Questions? Ask a Financial Expert for Answers ASAP
Thank you for your question, and thanks for using JustAnswer.com. How are you today?
The good news is since you earned over the ss limit at your regular job, your S Corp wages will only be subject to Medicare tax.
I see that there is no Medicare limit. Medicare gets charged at the personal level? Yes?
Why will they reassess taxes?
Will they reassess the whole net income at the S Corp level to a W2 income?
As I said, I hardly do anything in the business. I have a full time job.