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salary, w2, payment

11/2/09 8:02 AM
Total Views: 18

I operate a consulting company, under an LLC
How do I pay myself a salary, how do I pay the IRS and do I issue a w2 form showing my personal income?

 
 
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11/2/09 9:01 AM

How are you filing your tax returns?  How is your entity registered with IRS? Only if you are a corporation you can take a Paycheck and issue a w-2.

Gita Faust
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11/2/09 3:28 PM

If you are an LLC & run as a sole proprietor you don't take a pay check. All income will be taxed to you personally. You will need to file personally 1040-ES to pay you taxes quarterly.
You need to discuss this with your accountant.

Hope this helps. If so please mark solved, if not please ask more questions. Thanks!
 

Hope this helps. If so please mark solved, if not please ask more questions. Thanks!

Ray White
http://community.intuit.com/me...
http://www.raywhiteenterprises.com
 
 
 
 
 
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