S-Corp Taxes

[kalsarao]

What is the name of your state? Florida

Hi,

I would like to Start a Software Consulting, Development and Staffing Company. I want to intially start this business to Save taxes and show travel expenses.

I am employed with XXXX Inc. And my Wife is employed with YYYY Inc. She is a Software Consultant. She works for cleint Of YYYY inc. When i start by Business, we would like to Pass her Hourly billing through my company to YYYY Inc. When the client of YYYY inc Pays $30 per hour. I will be giving $20 Ph to YYYY Inc. the margin of $10 will go to my start-up company.

I am Citzen of USA. What kind for company is better in my Seceniro, S-Corp or C-Corp ?

When i start the Business, I dont want to run my Monthly Payroll? I have W-2 from XXXX Inc.

How the Taxes work for me? Do i have to run my 2nd W-2?

 

[FlyingRon]

You don't need any sort of corporation to deduct expenses.
I'm not sure what "save taxes" you are after.

I'm not sure what you mean by "monthly payroll", you haven't mentioned squat about payroll. What does your wife get out of this, you don't see to pay her at all.

An S corp is just one where the corporate income is passed through to the shareholders directly. If you were to pick a corporation for simplicity this is what you'd want in most states.