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URL:
https://boards.fool.com/reducing-taxes-paid-by-members-of-an-llc-14788381.aspx
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| Subject: Reducing taxes paid by members of an LLC | Date: 4/18/2001 12:51 AM | |
| Author: StanleyJLee | Number: 50413 of 134397 | |
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My name is Stan Lee, not of Marvel Comics fame. I am the president of a 6 person LLC and have been in business for 1 year. We were all shell-shocked with the amount of taxes each of us had to claim on our 1040. We have medical benefits and sep-ira. We need to know how to put more money in our pockets and less in Uncle Sam's. I was told we can take a "draw" from our capital account. Does anyone have any insight on this and any other ways. Much appreciated and thank you in advance. Stan |
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