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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

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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