Quote:
Originally Posted by JA$ON
100% of the s-corps profits or losses get passed through to the owners of the s-corps stock. While still "income", you'll save the Social security, medicare etc on the portion that you take as a distribution.
Call a cpa. While there are benifits to an S-corp vs an LLC, an s-corp requires far more paperwork (keeping of minutes, the taxes need to be paid on the salry you takes etc)
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More paperwork? That's what the lawyer and accountant are for.
As already mentioned, everybody's personal situation is different so it would be best to speak with somebody well versed in these types of things. A good accountant is worth every penny.
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