Determining Salary
Here’s something to consider before you decide how much to pay yourself.
Oct 02, 2002
Be careful about paying yourself a very high salary andattempting to deduct it as a payroll expense. The IRS tends to viewsuch salaries as dividends, which could mean you can’t deductyour compensation as a business expense. Plus, you’d have topay corporate taxes on the dividend.
Excerpted from Grow Your Business
Be careful about paying yourself a very high salary andattempting to deduct it as a payroll expense. The IRS tends to viewsuch salaries as dividends, which could mean you can’t deductyour compensation as a business expense. Plus, you’d have topay corporate taxes on the dividend.
Excerpted from Grow Your Business
