Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

If you're spending the money on the business, how can they count it as income? Shouldn't only your salary count as income? (which may very well be 0)


As far as I understand, while I can write off deductibles my personal and business income is combined at the end of the year since I am 100% owner of my California LLC thus giving my inflated annual income.


Your total income that you would report on your personal income tax return should be your personal salary plus your business profit for a single member LLC.


Correct that is it, any personal income plus the business profit.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: