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I have a small business that is an S Corp. About 4 years ago I started another small business that is a C Corp with a fiscal year beginning in July. It doesn't have much income, but I could "shift" some of the income from the S Corp to the C Corp. Assuming the C Corp had net income of about 30-50K per year, how do you get that money out of the Corp without paying it as a salary? All of my business expenses are thru the S corp. My CPA says that I need to pay non-deductible expenses out of the C Corp, what does that mean? He also told me to look at split dollar life insurance. Any advice?
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