Re:Should I pay salary to myself as the founder of a C Corp ...
by formerkrogemp on Sunday April 17, 2022 @08:14PM
(#31065865)
Short answer, no. I'm an accounting student. As others have said, it might behoove you to check in with an accountant. Paying yourself through a company that doesn't make any money isn't likely to work. I'll check up on my sources and see what would happen if you did pay yourself a salary. I think you'd just pay taxes on it or it might just qualify as a return on capital if it's just your money.
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Re:Should I pay salary to myself as the founder of a C Corp ...
by neallionet on Sunday April 17, 2022 @08:54PM
(#31066125)
Yes, it's 100% my own money. It seems my question was perceived in an unintended way - Why I'm asking here is because I don't want to pay a salary to myself and get double taxed, unless there is some legal/tax requirement that prevents me from working on growing the company without a salary. Thanks for the short answer.