Answers
W-2 - 17
"The easiest option by far".
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
less difficult to maintain
W-2 does not require additional administrative and bookkeeping time or costs.
Taxes are paid by the employer
Because ER payroll taxes are covered by the ER.
tax paid by employer
based off of your explanation in this article.
your taxes are already taken out of each paycheck
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
no min tax, noself employment tax
You pay 1/2 of the FICA taxes
employer pays 1/2 taxes
benefit and no insurance to pay.
Tukka mara hai bas !!:)
v no nedd to worry about tax part! third party ill take care of it! and no need to carry documents!
1.2 FICA
1099 - 5
Income - (Expenses + Retirement)
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.
Tax Saving
My company is LLC.
more tax write offs
Corp-To-Corp - 33
Because that's what I think.
You said so.
Minimum tax
from what I have read
Because you can offset income with business expenses.
Minimum tax required regardless of how profitable your business is
You can save money by showing healthcare payments as business expenses and hence book them as business exp in the corp
You mentioned it in the summary.
minimum taxes
Expenses can be deducted and assets purchased may be deprecated and written off.
S Corp does not pay federal tax
not sure
Because of the write offs
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.
Expense travel
guessed
benefit of no self employment tax
Minimum tax required regardless of how profitable your business is.
no self employment tax
You avoid taxation and can put more toward your Small business retirement
I am a CPA
401k deferrals
based on what i just read.
no self employment tax
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 taxes, plus you have more tax deductions.
To control the way the money is handled.
Depend on us
Abilty to work your deductions
Federal Income Tax, State Income Tax, and FICA (Social Security Medicare) all the risk will be taken by our corp
In corp to corp they are going to take care of whole booking sheet work
can deduct more expenses
Buz of document parts.
