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Oh BTW, you can't do what I said above if you're a sole proprietor. You have to be a LLC or corporation to do it this way.
Another drawback is that if you put yourself on payroll, then you have to pay payroll tax every month by the 15th. You can't hang on to the cash until the end of the quarter.
There's also all kinds of neat little bullshit you have to deal with when you set up an LLC or Corporation. Like you'll have to pay unemployment tax on yourself....LOL
I swear I'm going to the employment office next year and telling them I laid myself off and want to collect benefits.
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