Answers
W-2 - 17
1.2 FICA
v no nedd to worry about tax part! third party ill take care of it! and no need to carry documents!
Tukka mara hai bas !!:)
benefit and no insurance to pay.
employer pays 1/2 taxes
You pay 1/2 of the FICA taxes
no min tax, noself employment tax
No requirements for documents aside from time sheets, limited options in income deferment, and a limited number of business costs and medical insurance premiums can be deducted
your taxes are already taken out of each paycheck
based off of your explanation in this article.
tax paid by employer
Because ER payroll taxes are covered by the ER.
Taxes are paid by the employer
W-2 does not require additional administrative and bookkeeping time or costs.
less difficult to maintain
Employer pays 1/2 federal, state, local withholding; several benefit deduction programs such as health and retirement can be made on a pre-tax basis which lowers tax liability
"The easiest option by far".
1099 - 5
more tax write offs
My company is LLC.
Tax Saving
All income can go into the business account, if desired, with nothing paid to the "employee" (me). Only once I pay myself do I earn taxes. This could be years/decades later, once my other sources of income have disappeared.
Income - (Expenses + Retirement)
Corp-To-Corp - 33
Buz of document parts.
can deduct more expenses
In corp to corp they are going to take care of whole booking sheet work
Federal Income Tax, State Income Tax, and FICA (Social Security Medicare) all the risk will be taken by our corp
Abilty to work your deductions
Depend on us
To control the way the money is handled.
No self employment taxes, plus you have more tax deductions.
No self employment tax and may even be able to use this to avoid being taxed for a large portion of your income.
no self employment tax
based on what i just read.
401k deferrals
I am a CPA
You avoid taxation and can put more toward your Small business retirement
no self employment tax
Minimum tax required regardless of how profitable your business is.
benefit of no self employment tax
guessed
Expense travel
I have an S Corp... so I kind of cheated! But, with a S Corp you carry all the expenses for the corporation including paying salaries so you can deduct more. It also allows the flexibility to set up other options that can aid in reducing taxes like an Owner K, benefit options for employees.
Because of the write offs
not sure
S Corp does not pay federal tax
Expenses can be deducted and assets purchased may be deprecated and written off.
minimum taxes
You mentioned it in the summary.
You can save money by showing healthcare payments as business expenses and hence book them as business exp in the corp
Minimum tax required regardless of how profitable your business is
Because you can offset income with business expenses.
from what I have read
Minimum tax
You said so.
Because that's what I think.
