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View Full Version : Question for people who run S. Corps / Partnerships


bilchak
03-02-2001, 12:55 AM
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