asked

Hello, my wife and I have a small LLC that will be taxed as an S-corp in 2021. Our salaries are currently less than $35,000. I am setting up our payroll with Gusto and trying to figure out if I should pick that we are eligible for overtime since our pay is less than $35k each. Does the overtime law apply to us since we are both 50% owners of the LLC?

January 29th, 2024

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