Tagged Questions

2
votes
1answer
133 views

Should I be an employee of my wife's single member LLC?

I'm a software developer and for the past 15 years I've been moonlighting in addition to my fulltime job. Back in 2009 my wife formed a single member LLC and we started running our side jobs (she's a ...
2
votes
1answer
204 views

Taking a Paycheck from LLC

I recently created an LLC and was curious to how I should take a paycheck from the business account. Up until this point, I haven't taken a paycheck and will need to soon. The business has a bank ...
4
votes
1answer
301 views

How To Do Single Person LLC Accounting?

I am in a single person LLC, so I am allowed to file my taxes on my personal return and I don't have to cut myself paychecks. I would prefer to take all of the money out at the end of the year. ...
2
votes
5answers
1k views

LLC or S-corp for a 2 person California consulting company

My business partner and I currently work as independent contractors in California writing software and have decided to turn it into a real company. Ownership will be 50/50. All revenue will come from ...
1
vote
2answers
604 views

Can I pay a passthrough LLC member via a paycheck instead of a distribution?

I was doing the books for an LLC last year and our accountants told us that paying one of the members via payroll was not the correct way to pay them and that the member should be paid via a ...