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RE: Anyone ever heard of this book or program

Subject: RE: Anyone ever heard of this book or program
From: Mary Lynn Bower <hlthsrch -at- voyager -dot- net>
To: "TECHWR-L" <techwr-l -at- lists -dot- raycomm -dot- com>
Date: Wed, 13 Nov 2002 23:11:13 -0600


The payroll taxes are 15.3%, not 14.3%. Probably just a typo . . .

Mary Lynn

At 03:14 PM 11/13/2002 -0800, Russ Seligman wrote:

>-- Payroll tax savings. If you net $80k of self-employment income, you
> pay payroll taxes (SS/Medicare) of 14.3% on all of it -- over
> $11k. If your corporation nets $80k, it can pay you, say, $50k
> salary; the remaining $30k is profit to the stockholders -- that's
> you. But you don't pay payroll taxes on the profit distribution,
> only on the salary. So you save 14.3% of $30k -- over $4k.

Interesting. However, at some point you'd want access to that $30k,
right? So if you don't get it in salary, how else would you distribute
it? And wouldn't there be other tax consequences then?

--Russ

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Mary Lynn Bower
jpa, vermis of cerebellum, 4-93
Health Search, Inc.
1 East Lonnquist Blvd., Mt. Prospect, IL 60056-3857
847.577.1043
FAX 847.222.1437
mailto:hlthsrch -at- voyager -dot- net
http://my.voyager.net/hlthsrch
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~



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