Our accountant told us a long long time ago we pretty much had to do this. Looking back I'm glad I've done this because basically I am paying into social security and if, by some insane chance it is still there in 30 years....i'll have paid into it. Instead of taking a distribution and then having to pay self-employment tax (which i do anyway because i am also self employed in my other business)
oh yay. The other thing I’m going to have to discuss with my accountant is the S Corp pass through change. It could be really stupid now for my company to be paying me a salary, maybe a distribution would be the way to go. I’m not sure. I always tried to do the right thing and pay myself a reasonable salary so the government could get their various payroll taxes, but maybe I’m being a moron.
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