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New LLC 2017 treated as S corp. I need to file for 2017 -
I need to file for 2017 - need to pay myself a salary plus dividends. Did not do W2s but I realize I should have. Single owner LLC. As an S-corp, I am an employee of myself. … read more
Barbara
Barbara
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I'm moving from W-2 employment to 1099 contract work and am
I'm moving from W-2 employment to 1099 contract work and am registering a company in Minnesota for this purpose. After doing some research, I seem to be best served with a passthrough like S-Corp or L… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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I want to give 1/2 my shares in a chapter s corp to my wife,
I want to give 1/2 my shares in a chapter s corp to my wife , then I want to give 100% of the profits to my wife in a K1 I'm an employee of the company and get a w2 , is that ok?… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
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I have a question o my business corporation tax,, For
I have a question o my business corporation tax, I'm Self Empoyee, For example, if my business makes $700,000 and I have $300,000 in expenses, i will pay tax on $400,000 NOT $700,000, right ? Son I kn… read more
Anne
Anne
Master Tax Preparer
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I have a C Corp and I own the sole owner. I am now preparing
I have a C Corp and I own the sole owner. I am now preparing my business and personal returns for 2016. I want to pay myself compensation on W-2 which I did not file with the IRS yet nor did I pay pay… read more
James Daloisio
James Daloisio
Attorney
Doctoral Degree
2,294 satisfied customers
If you paid yourself a wage (W2 income) can you deduct that
If you paid yourself a wage (W2 income) can you deduct that on a Schedule C as a sole proprietor … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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I have a newly business, LLC as a S-Corp, and I've sent only
I have a newly business, LLC as a S-Corp, and I've sent only 1 non-employee 1099 out, and I have made little money to myself, since the S-Corps pass the income as personal I was wondering if I have to… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
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I get a K1 form and a W2. Box 4 on my K1 is the same amount
I get a K1 form and a W2. Box 4 on my K1 is the same amount as my total earnings on my W2. When I enter the mount of K1 box 4 into turbo tax is acts like it is doubling my income and causing to me to … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
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I've been offered a consulting position with options to work
I've been offered a consulting position with options to work as a W2, Corp to Corp or 1099. Is there an advantage of working Corp to Corp vs 1099… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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Business Taxation LLC choosing to be taxes as S-CorpI want
Business Taxation LLC choosing to be taxes as S-CorpI want to open a company,and I'm thinking which would be better Llc or Sunday Corp (for the purpose money saving at tax time ).I've read that I can … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Ok i have a question i do busniness tax i do my s corp and
ok i have a question i do busniness tax i do my s corp and my pay myself i do my own taxes i want to know if i can put a 1099 mis on my regular taxes if im a scorp and if im putting it my regular taxe… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I have a NV S-Corp, income 2015 about 100k. Desire to pay
I have a NV S-Corp, income 2015 about 100k. Desire to pay myself and wife payroll of $22,050 to provide for another SS qualified income year. So far I have taken cash distributions but have not issues… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,472 satisfied customers
I own an S corp with seven employees and want to set up a
I own an S corp with seven employees and want to set up a SEP IRA. It is my understanding from the IRS website that I can't do that since SEPs are only allowed for sole proprietors. Is that right?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I receive guarnteed payments from a partnership by a k1 in
i receive guarnteed payments from a partnership by a k1 in my name. i do consulting work for them. on this money i pay self employment tax. ii am also the owner of a consulting s corporation. can i ru… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,972 satisfied customers
I get unemployment every year because of my seasonal job as
I get unemployment every year because of my seasonal job as a tax preparer. I recently became an officer of a corporation and I don't get a salary, but only K-1 at the end of the year. How does that a… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,972 satisfied customers
hello. Im an independent contractor on 1099 since aug 2014. From
hello. Im an independent contractor on 1099 since aug 2014. From January to July 2014 I was under W2 . During January 2014 I had opened a back door IRA (from my personal account converted a traditiona… read more
Anne
Anne
Master Tax Preparer
3,422 satisfied customers
I want to trade options and am wondering what is the best way
I want to trade options and am wondering what is the best way to protect myself from high taxes? Should I form a corporation and trade under that and call myself an employee of the company or is there… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
Hey Christopher, Im self employeed w/my own LLC. I basically
Hey Christopher, I'm self employeed w/my own LLC. I basically run payroll for myself to pay myself and have the taxes taking out etc. As the Employer as well I wanted to know why I had to pay so many … read more
Merlo
Merlo
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