Discussion:Savings of SE tax by being an S Corp
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Discussion Forum Index --> Basic Tax Questions --> Savings of SE tax by being an S Corp
Discussion Forum Index --> Tax Questions --> Savings of SE tax by being an S Corp
| 23 February 2009 | |
| Wondering what is reasonable compensation for sole owner (no employees or workers) of
a Sub S corp that all income is a direct result of his services. Lawyer told client to just put $15,000 on W-2 rest is S distribution. This doesn't sound right as he was the one that made the money. If a reasonable amount that would be paid to employee is on w-2 but it still results in huge left over income that would be a distribution, is that ok? | |
Taxman3132 (talk|edits) said: | 23 February 2009 |
| i would not do less than a 50/50 split. | |
Death&Taxes (talk|edits) said: | 23 February 2009 |
| Here are the opinions of 374: Discussion: S Corp Owner Salary vs. Distributions | |
| 23 February 2009 | |
| I've been waiting for Kevin's yellow box smackdown. I guess that'll do, though. | |
| February 23, 2009 | |
| Our longest thread by far! Good luck, complex issue, but the courts are consistent, even if the IRS and many 'pros' are not. | |
| 23 February 2009 | |
| I actually do have a few clients to meet with this time of year. Sorry I didn't get my smackdown in in a timely manner. | |
| 23 February 2009 | |
| I just looked at CNNMoney - I hope you're advising them to buy gold. | |
| 23 February 2009 | |
| If we can get to 7,082.26 today, the Dow will officially lost half its value since its all-time high of 10/9/07.
Of course, it was only in 1995 that it closed above 5,000 for the first time. | |
| February 23, 2009 | |
| I'm still buying! Wow, half price sales are hard to beat. It's funny, if cellphones were 1/2 price, or GPS's, or cars, we'd go get a bunch. Stocks are 1/2 price and no one wants them. Silly people. | |
| 23 February 2009 | |
| but the cellphone and computer get better next month when they're even cheaper | |
| 23 February 2009 | |
| But it's half price from a price that was never real. It's like JCPenney - they have "mega-blowout sales" every month where everything in the store is "80% off original retail". But nobody has ever paid original retail at JCPenney, so that percentage is meaningless. You buy a shirt for $10 because it's worth $10, not because it's 80% off $50. | |
| 23 February 2009 | |
| AIG was a "great deal" at $2 and a better deal at $1.25, so now that's it $0.50, people must be scooping it up like it's their job.
I'll wait until it's $0.20. Or $0.10. | |
| February 23, 2009 | |
| Like Lucent and Motorola around Chicago. Until the real estate prices dropped, we knew the buildings alone were worth more than the stock price. With the RE bust, so much for that, even. I'm pretty excited to think that I can buy both for about the price of a cup of Starbucks tho'. | |
| 23 February 2009 | |
| 7,114. Oh well, don't worry. We'll break 7,000 tomorrow. | |
| February 23, 2009 | |
| And Tony - "yellow box smack down" isn't just Kevin's domain ;-) | |
| 23 February 2009 | |
| I think I saw Kevin up against Tony in the Smackdown last Friday on channel 13. Wasn't Kevin the guy in the yellow briefs with the black mask and cape? | |
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