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SVTPerformance's Chain of Restaurants
Road Side Pub
LLC/S-Corp out of state
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<blockquote data-quote="Twisted2v" data-source="post: 16425789" data-attributes="member: 119147"><p>I appreciate all the comments. I did work at an accounting firm for a year.</p><p></p><p>Payroll-business writes check to owner, business files federal and state payroll returns and pays SUTA, FUTA and withholding.</p><p></p><p>The tax savings on paying Medicare/SS on an S-Corp salary is much cheaper than the whole income of a LLC.</p><p></p><p>Then there’s the basis advantage so you don’t pay taxes on your own money you invested.</p><p></p><p>I think Shopify will help calculate sales taxes due.</p><p></p><p>Not claiming to be an expert though. Every time I have a job I receive low guidance. I was basically a bookkeeper/tax return preparer. Nothing on business formation beyond basics they teach in school.</p></blockquote><p></p>
[QUOTE="Twisted2v, post: 16425789, member: 119147"] I appreciate all the comments. I did work at an accounting firm for a year. Payroll-business writes check to owner, business files federal and state payroll returns and pays SUTA, FUTA and withholding. The tax savings on paying Medicare/SS on an S-Corp salary is much cheaper than the whole income of a LLC. Then there’s the basis advantage so you don’t pay taxes on your own money you invested. I think Shopify will help calculate sales taxes due. Not claiming to be an expert though. Every time I have a job I receive low guidance. I was basically a bookkeeper/tax return preparer. Nothing on business formation beyond basics they teach in school. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
LLC/S-Corp out of state
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