The WealthAbility Show with Tom Wheelwright, CPA cover image

The Right Way To Take Money From Your Business

The WealthAbility Show with Tom Wheelwright, CPA

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Do You Need to Take Money Out of a Sea Corporation?

If you're a c corporation, i need to take some money out, what's the best way to do again? What we're trying to do is minimize income tax. We're talking about two ends of the spectrum. The sole proprietorship, where you're going to pay a hundred % self employment tax on all your money. And the corporation, the se corporation,. Where you're only going to paid a 21 % tax. You just can't take the money out. If you have to take much money out outside of what you're living on, now, any money you're Going to take out to live on, just take it as salary most of the time. That's the

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