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NickHous

12/18/18 9:55 AM

#167678 RE: bidmark #167656

Always leery of someone who claims CEO title. Plain and simple Sub-S Corps are set up simply to enable deduction as business expense 1/2 of social security taxes paid. If remained simple Sched C entity then no deduction for 7.65% of soc sec taxes paid. There ARE SO MANY sub-s entities out there. You set it up simply for tax purposes. Then you have by name only "CEOs" everywhere. They are not the atypical CEO people think of (Fortune 500 company, etc.), they are simply CEO in name only, because you've got to put someone's name on the paperwork. Their accountants are the smart one's normally. You just have someone that owns a small business and is listening to their accountant on how to save money.