I recently created a Georgia LLC that will be treated (taxed) as an S-Corp. I will begin a contracting job soon (Software Engineer) and will be paid corp-to-corp at $115/hr. I am expecting $220,800 gross income.
I have several questions in order to maximize my net income after State and Federal taxes:
1) What should I be keeping track of for deductions? (phone/internet bill, car mileage, health insurance, etc.)
2) How can I take full advantage of my LLC/S-Corp?
3) How much should I pay myself?
4) How much should I pay every quarter in State and Federal taxes? (If possible, I would like to hit the number as close as possible, accounting for all my deductions, without going over/under)
I have several questions in order to maximize my net income after State and Federal taxes:
1) What should I be keeping track of for deductions? (phone/internet bill, car mileage, health insurance, etc.)
2) How can I take full advantage of my LLC/S-Corp?
3) How much should I pay myself?
4) How much should I pay every quarter in State and Federal taxes? (If possible, I would like to hit the number as close as possible, accounting for all my deductions, without going over/under)