Can I pay myself $1 salary?
I started a business about 2 years ago (as an LLC), it is doing ok, i gross about $60k and net about $20k. I did a lot of reinvesting, so the next year should be at least double. I haven't had a real job after college and have been living with my parents. I'm wondering if I should setup as a Corporate and pay myself $1, so i can get cheaper insurance, most quotes are insane like $1500/month, which would eat up pretty much all my income. Would I get benefits through that and keep the money in the company and just pay the corporate taxes? Thanks for the help!
Posted Feb 22, 2016, 5:10 AM UTC
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