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S-Corp Question
Posted on 3/20/13 at 12:00 am
Posted on 3/20/13 at 12:00 am
My family owns a business that has existed for a long time and was initially filed as an S-Corp. This business is about to lease out some office space for 3-4k a month. I know S-Corps are tax advantageous but is the S-Corp the best way to keep as much money as we possibly can?
In other words, if I want to spend the money on other things outside the business what's the best way to go about?
TIA
In other words, if I want to spend the money on other things outside the business what's the best way to go about?
TIA
This post was edited on 3/20/13 at 12:01 am
2
Posted on 3/20/13 at 12:08 am to Interception
Distribute earnings through dividends assuming you are a shareholder.
Posted on 3/21/13 at 7:27 am to Interception
Write yourself a check from the business and call it a dividend. No soc sec or Medicare taxes paid.
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