Check with your CPA on that.
The IRS likes to see salary and other activities that represent that
your "company" really is a company and not a tax shelter so that you
avoid the sole proprietor tax schedule.
(It's called piercing the veil -- if you don't have minutes and annual
shareholder meetings and run it like a business, you lose the corporate
shield for tax purposes AND for liability as in civil litigation).
- Peter
Tom DeReggi wrote:
Zero. When the CEO is also the primary investor, and the company is
an S-corp or LLC, why pay payroll tax, when you can just take a
repayment of loan?
The salary of the CEO can be meaningless unless also disclosed wether
they have an equity position or not, and of what caliber.
Tom DeReggi
RapidDSL & Wireless, Inc
IntAirNet- Fixed Wireless Broadband
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