I own an S-Corp and do consulting services through my S-Corp. I am the only person doing any work. Also, I find employment taxes to be a pain in the butt, calculating income and self-employment taxes, making sure I send the payments in on time, yada yada. Would it be ok to just consider myself an independent contractor for my company and 1099 myself at the end of the year? That way the IRS still gets their Social Security tax right, I just don't have to waste time with all the hassles of having an employee... So what I'm saying is, would this raise any red flags, and if I were audited would this be an ok thing that wouldn't get me in trouble?
2006-11-10
13:35:03
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3 answers
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asked by
Vesuvius
3