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 Nyc Att S Corp  Form 2012

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when you are operating as an loc you may be a single member locc with taxes filed in with your individual taxes or you may be a multi-member loc that is required to file a separate tax return either way both of those entities require you to pay self-employment tax 15.3% on top of income tax and that can be extremely costly which is why it's so important to evaluate the taxation of those entities s corporations on the other hand can eliminate the actual self-employment tax but once you go to an S corporation you have to draw a payroll check out of the corporation real payroll just like you did when you work for an employer you're going to get a W2 form you're going to get PID STS in addition to that you can get a distribution out of your S corporation

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