Raymond G. asked
I am an owner of a single-member S-Corp (IT consultant) and a multi-member LLC (Transportation Domain). I haven't paid myself any salary from my S-Corp this year and expect a net income of $100k. I also need to contribute $40k from my S-Corp to my multi-member LLC for a capital investment (buying a truck). What is the best way to handle payroll, 401k contributions, and the transfer of funds for this investment, and how does Section 179 and bonus depreciation work in this context?
August 20th, 2023
Denise M. answered
For your S-Corp, you should pay yourself a reasonable salary, typically around $30-40k based on your...
August 20th, 2023
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