I have a single-shareholder LLC under subchapter S.
In my spare time I get a little bit of work translating legal documents (English-Finnish, English-German). For 2007 it probably looks like $ 6,843.79 of gross receipts. I would declare as "wages" $ 1,640.32, or about 4.2:1 receipts:wages.
My questions:
1) is that a decent ratio of receipts:wages, or could a person potentially be able to get sth better?
2) "compensation of officers": if I am the sole shareholder of the LLC with S corp. tax treatment, could I give myself a small compensation as officer w/o having to figure it in as "wages"? $200? more?
Thanks much!
2007-12-16
15:20:07
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5 answers
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asked by
Ilmari_Karjalainen
3