bilchak
03-01-2001, 11:55 PM
My business is officially an LLC. This lets me file my federal taxes as a partnership as my buddy and I are equal partners in the company.
What is the best way to keep the taxes as low as possible??
Do you guys pay yourselves a weekly salary?
Or do you transer funds (profits) from the company to the partners, then pay personal income tax on that.
How does self-employment tax come into play?
Thanks for any help,
John
What is the best way to keep the taxes as low as possible??
Do you guys pay yourselves a weekly salary?
Or do you transer funds (profits) from the company to the partners, then pay personal income tax on that.
How does self-employment tax come into play?
Thanks for any help,
John