What is the name of your state? California
We have recently formed a corporation. There are four directors and four shareholders. Two of the directors/shareholders own 95% of the stock.
My question is how do we "pay" ourselves, as the two main owners? We do not want to be on payroll.
Is it legal to use the company bank card for our purchases (i.e. non-direct business expenses)? I know that in a general business partnership you can do that as a "draw".
Please advise, as we do not want to be taxed over the least possible amount.
We have recently formed a corporation. There are four directors and four shareholders. Two of the directors/shareholders own 95% of the stock.
My question is how do we "pay" ourselves, as the two main owners? We do not want to be on payroll.
Is it legal to use the company bank card for our purchases (i.e. non-direct business expenses)? I know that in a general business partnership you can do that as a "draw".
Please advise, as we do not want to be taxed over the least possible amount.