W2 Income

[dthru00]

I am in California and have a new business doing home loans. To process loans under the department of Corporations I must be an employee of a Company with a license. I am and get paid for commissions on loans I originate. This company pays me on a W2 without checking the statutory employee box. All expenses and risk for the business are mine.

How can I move the W2 income into my business and out of personal income? I have not incorporated, but would like to if I can figure out how to move the income. This company will only pay employees, because of the loan license requirement by the department of corporations.

 

[HomeGuru]

I am in California and have a new business doing home loans. To process loans under the department of Corporations I must be an employee of a Company with a license. I am and get paid for commissions on loans I originate. This company pays me on a W2 without checking the statutory employee box. All expenses and risk for the business are mine.

How can I move the W2 income into my business and out of personal income? I have not incorporated, but would like to if I can figure out how to move the income. This company will only pay employees, because of the loan license requirement by the department of corporations.

**A: you can't because of the licensing law requiring payment to only employees rather than to IC's or compnay and corporate entities such as LLC's and corporations.