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PA: Corp-to-Corp and name needed for contracts
Yes, I understand the taxes via DBA, LLC and personal taxes would've the same. The main question comes down to either setting up the s-corp (maximizing retirement contribution options at the expense of extra taxes, time, expense, and navigating the employee & W2 topics,) or or sticking with...- pixelrogue1
- Post #55
- Forum: Business Contracts and Franchises
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PA: Corp-to-Corp and name needed for contracts
If the decision moved to disregarded LLC, then I expect I could then every back to the starting point of maintaining the established DBA, keeping everything as is (foregoing the company contribution to retirement opportunity.)- pixelrogue1
- Post #53
- Forum: Business Contracts and Franchises
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PA: Corp-to-Corp and name needed for contracts
Would you have a point of view on the deciding between the easier route of a disregarded LLC, to that of the s-corp (with the primary motivator of an s-corp would be to maximize retirement contribution opportunity?- pixelrogue1
- Post #52
- Forum: Business Contracts and Franchises
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PA: Corp-to-Corp and name needed for contracts
Yes, got it. These responses are not necessarily in order. I am listening, appreciate the feedback immensely, and hope we can keep from passing personal comments.- pixelrogue1
- Post #50
- Forum: Business Contracts and Franchises
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PA: Corp-to-Corp and name needed for contracts
Quarterly.- pixelrogue1
- Post #49
- Forum: Business Contracts and Franchises
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PA: Corp-to-Corp and name needed for contracts
If I create another LLC just for consulting, treat it as a second disregarded entity then file quarterly estimated payents, this seems much easier. This would allow me to contribute to retirement in a self directed 401k, but I would miss the opportunity of the company contributing to the 401k...- pixelrogue1
- Post #48
- Forum: Business Contracts and Franchises
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PA: Corp-to-Corp and name needed for contracts
And this is just once at the end of the year (w2). And the websites. You just type in the information?- pixelrogue1
- Post #43
- Forum: Business Contracts and Franchises
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PA: Corp-to-Corp and name needed for contracts
Yes, no intention of a c-corporation. I was thinking wither a new LC or back to the existing LLC with the dba.- pixelrogue1
- Post #42
- Forum: Business Contracts and Franchises
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PA: Corp-to-Corp and name needed for contracts
Thought process: So...you have a dedicated business checking account. Invoices get deposited into the accout. Expenses get paid from the account. When it comes time to get paid, you must pay youself the same salary as other would get paid. Of that salary, you can either a) submit tax payments...- pixelrogue1
- Post #40
- Forum: Business Contracts and Franchises
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PA: Corp-to-Corp and name needed for contracts
----- Book keeping itself wouldn't be a need. Quickbooks payroll appears to $24/month. l (though unclear on the W2 side of it.) Anyone here use Quickbooks strictly for payroll only?- pixelrogue1
- Post #36
- Forum: Business Contracts and Franchises
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PA: Corp-to-Corp and name needed for contracts
-- Yes, I thought the only way to generate the required W2 was through a third party. 940 & 941 appear to be tax forms that you file once at tax time....or you submit payments to uc and state with each salary withdrawl. From this thread (and thank you to EVERYONE chipping in this has be so...- pixelrogue1
- Post #34
- Forum: Business Contracts and Franchises
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PA: Corp-to-Corp and name needed for contracts
---- Ok. See related response above ^- pixelrogue1
- Post #31
- Forum: Business Contracts and Franchises
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PA: Corp-to-Corp and name needed for contracts
------- Summary of my new understanding: 1) Best option to maximize retirement contributions is through an s-corp (allows me to contribute as an employee, and the corp can contribute 25% of gross) 2) As an s-corp, I am required to manage salary through a W2. 3) Salary would then need to be...- pixelrogue1
- Post #30
- Forum: Business Contracts and Franchises
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PA: Corp-to-Corp and name needed for contracts
1099, rather than hiring a payroll company. Do not think a W2 is required when it is your own business and no other employees.- pixelrogue1
- Post #27
- Forum: Business Contracts and Franchises
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PA: Corp-to-Corp and name needed for contracts
Got it. I would be expecting this as a 1099, and I have an account dedicated to storing the taxes owed. While some contractors hire a company for payroll (which issues a W2,) others are straight 1099, and they simply set aside the appropriate amount and pay it at tax time. I do not want to...- pixelrogue1
- Post #26
- Forum: Business Contracts and Franchises
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PA: Corp-to-Corp and name needed for contracts
---- "Salary needs to be a fair market wage for the work done for the company." Can you elaborate a little? I am not looking to pay myself much beyond what I am required to receive to contribute to retirement, and I was looking at letting that build up and then make the transactions once the...- pixelrogue1
- Post #23
- Forum: Business Contracts and Franchises
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PA: Corp-to-Corp and name needed for contracts
If creating a separate S-Corp, I would imagine I am still needing to pay myself as an employee? As of today, taxes are personal income + schedule E. --------- S-Corp: • Salary only in the amount that will be contributed to retirement. • S-Corp contributions to retirement (think that would be at...- pixelrogue1
- Post #21
- Forum: Business Contracts and Franchises
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PA: Corp-to-Corp and name needed for contracts
I am leaning towards a separate incorporation for the s-corp. I am already consulting for a client (w/paperwork, insurance etc all under the DBA (and the request for the LLC to be added which started the thread) What impacts would there by electing to be taxed as an s-corp?- pixelrogue1
- Post #19
- Forum: Business Contracts and Franchises
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PA: Corp-to-Corp and name needed for contracts
Thoughts in terms of impact if switching an LLC to an S-Corp?- pixelrogue1
- Post #17
- Forum: Business Contracts and Franchises
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PA: Corp-to-Corp and name needed for contracts
All due respect I am not looking to disect something that is nearly 15 years ago. Focus remains in the corp-to-corp consulting that will allow me to maximize returement contributions.- pixelrogue1
- Post #16
- Forum: Business Contracts and Franchises
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