I think you used the term "revenue" but meant to say something like net income. A simple mistake and we get that you

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Oct 22, 2024
12:52:45pm

HarlemCoug Intervention Needed

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
Bio page: HarlemCoug
Joined: Sep 8, 2014
Last login: Oct 22, 2024
Total posts: 34,917 (4,369 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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