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Reply #9: May want to try this. [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
philk17088 Donating Member (74 posts) Send PM | Profile | Ignore Fri Jan-30-09 08:21 PM
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9. May want to try this.
Consider setting up an S corp. Pay yourself a small salary and pay the ss on the salary. Your profits from the business flow thru to you and are taxed on your personal return.
I have a small business and saved thousands in the self employment taxes. It wasworth the fees incurred to incorporate. It won't affect your contractors at all other than letting them knowthey are dealing with a corporation.
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