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Self Employed - Salary Figures
[#permalink]
24 Sep 2017, 23:56
24 Sep 2017, 23:56
So I run my own startup and run it as a S corp, and put all my profits back into the company. As I technically don't draw a salary, do I put $0 as my salary when they ask for salary figures, or can I put in the business income.
Re: Self Employed - Salary Figures
[#permalink]
25 Sep 2017, 00:00
25 Sep 2017, 00:00
Expert Reply
Hi startup2017 ,
I believe you should mention what you are earning.
Actually the amount you are earning is what matters and not how and you are using that amount.
Let's say I am earning a profit of $1000. Now, I can mention this as my salary. I should not bother about how I am using this profit.
Mentioning salary= $0 won't look good and it may raise questions.
Good Luck
I believe you should mention what you are earning.
Actually the amount you are earning is what matters and not how and you are using that amount.
Let's say I am earning a profit of $1000. Now, I can mention this as my salary. I should not bother about how I am using this profit.
Mentioning salary= $0 won't look good and it may raise questions.
Good Luck
Re: Self Employed - Salary Figures
[#permalink]
25 Sep 2017, 00:05
25 Sep 2017, 00:05
abhimahna wrote:
Hi startup2017 ,
I believe you should mention what you are earning.
Actually the amount you are earning is what matters and not how and you are using that amount.
Let's say I am earning a profit of $1000. Now, I can mention this as my salary. I should not bother about how I am using this profit.
Mentioning salary= $0 won't look good and it may raise questions.
Good Luck
I believe you should mention what you are earning.
Actually the amount you are earning is what matters and not how and you are using that amount.
Let's say I am earning a profit of $1000. Now, I can mention this as my salary. I should not bother about how I am using this profit.
Mentioning salary= $0 won't look good and it may raise questions.
Good Luck
Thanks. I am conflicted whether to use profit or income after paying my employees, obviously the first would look multitudes better, as after paying off all my employees the income looks pretty low.
