Need to get some feedback on a concept that a friend of mine is considering. He's a graphic designer working for a company right now and is considering switching to contract work. Someone suggested that it would make more sense tax-wise to form a S-Corp, pay himself as a W2 employee and then claim the rest as corporate dividends.
Anyone else do this before? I'm not an accountant and have suggested he talk to one. Unfortunately my own experience in the contract world is out of date and I mainly did it as a 1099. He's a good friend and I don't want to see him mess himself up. Until Later! C. Hatton Humphrey http://www.eastcoastconservative.com Every cloud does have a silver lining. Sometimes you just have to do some smelting to find it. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:369525 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
