 question
Steve,
Why not just do an LLC and count your retained income in your business account as personal income for the year? Current tax rates would appear to favor individual's rates rather than corporate rates:
Individual rates:
$0 to $15,100 rate is 10%
15,100 to $61,300 rate is 15%
$61,300 to $123,700 rate is 25%
$123,700 to 188,450 rate is 28%
$188,450 to $336,550 rate is 33%
over $336.550 rate is 35%
Corporate rates:
$0 to $50,000 rate is 15%
$50,000 to $75,00 rate is 25%
$75,000 to $100,000 rate is 34%
$100,000 to $335,000 rate is 39%
$335,000 to $10,000,000 rate is 34%
$10,000,000 to $15,000,000 rate is 35%
$15,000,000 to $18,333,333 rate is 38%
over $18,333,333 rate is 35% |