...report a salary? The reason I asked is because after I just completed income/deductions portion of my taxes and it leaves very little taxable income, and turbo tax is asking if I paid the corporate officer (myself) anything.
Is it necessary to claim that I am taking some sort of salary?
Would it raise a flag to claim that I received no form of compensation and just pay taxes on the capital gained?
I haven't been concerned with paying myself anything, I was more concerned with building the companies capital. I know that the CEO of GM, Rick Wagoner, claimed a $1 salary before. Should I just do the same? Thanks in advance for any help!
Is it necessary to claim that I am taking some sort of salary?
Would it raise a flag to claim that I received no form of compensation and just pay taxes on the capital gained?
I haven't been concerned with paying myself anything, I was more concerned with building the companies capital. I know that the CEO of GM, Rick Wagoner, claimed a $1 salary before. Should I just do the same? Thanks in advance for any help!