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Old 01-27-2013, 06:17 PM
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ToddH ToddH is offline
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Join Date: Aug 2012
Location: Grand Prairie, Texas
Posts: 2,177
Quote:
Originally Posted by grandview (2006) View Post
Only corp tax I pay is 25.00 to NY.After all my profit and loss is done,the bottom figure goes onto my personal taxes and I pay tax on that.
So in effect you pay yourself a fair wage which is taxed as regular income and the Profit paid as a bonus is capital gain which leaves nothing to be taxed at the corporate level.
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