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Oct 22, 2024
12:52
:45
pm
HarlemCoug
Intervention Needed
I think you used the term "revenue" but meant to say something like net income. A simple mistake and we get that you
understand the difference in the terms.. that's why we poked a little fun at your simple error.
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HarlemCoug
Previous username
Big12
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HarlemCoug
Joined
Sep 8, 2014
Last login
Oct 22, 2024
Total posts
34,920 (4,370 FO)
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Messages
Author
Time
How much do S-Corps truly pay in tax? Should I set aside 30% of revenues?
Hawk Talons
12:32pm
30% of revenue?? Dang, what are your margins.
WDaddy
12:36pm
Let's hope it's 30% of rev (and that he needs new investors)
HarlemCoug
12:38pm
That's why I'm asking. I write off a lot as a 1099 worker, but I've never had a
Hawk Talons
12:44pm
You’re supposed to be somewhat less likely to get your write offs audited with an S Corp as well. Fwiw
JollyGreenGiant
12:45pm
I think you used the term "revenue" but meant to say something like net income. A simple mistake and we get that you
HarlemCoug
12:52pm
An S-Corp pays no taxes as a pass-through entity. Owners will be issued a K-1
JAGA97
12:36pm
<< Deleted >>
Acorn
12:37pm
None. Normally. S corps are pass-thru entities. So it’s whatever your marginal
mkg
12:37pm
Also keep in mind that you usually need to make quarterly estimated tax payments during the year
BYUnerd
12:39pm
Your marginal tax rate but the S Corp ought to help with FICA
JollyGreenGiant
12:42pm
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