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re: Starting a business - please advise which type
Posted on 7/13/22 at 2:54 pm to Mingo Was His NameO
Posted on 7/13/22 at 2:54 pm to Mingo Was His NameO
quote:except youre stuck paying SE tax on the entire gain when you could pay yourself a reasonable salary and avoid paying SE taxes on the difference.
So is filing a schedule C on your personal return, if fact, that's a hell of a lot cheaper and easier.
Schedule C is NOT the way to go. Little to no wiggle room and you get hammered in taxes
1
Posted on 7/13/22 at 2:55 pm to ChexMix
quote:
Schedule C is NOT the way to go
Im done arguing about it, but that just depends as I've already said. Is he going to contract going forward or is this a one off? How much is the contract worth? Etc, etc.
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