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Old 01-16-2019
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Default Turning biz into LLC and filing as S Corp

So thinking of turning my biz into an LLC to pay out a salary and dividends to save on taxes a little.

Would file as S Corp for pass-thru and avoid the nasty corp taxes.

From recent understanding your salary is based on shareholder status, so am wondering how would one go about paying dividends if company profits are 100% salary?


Nvm... think I answered my own question...

Figure a salary for yourself and pay the rest as dividends. (Yes/no?)

Another question....

With a salary can you opt to pay yourself once at the end of the year to skip out on all but one W2?

Last edited by Sunspot144; 01-16-2019 at 01:12 AM.
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