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  #71  
Old 07-28-2004, 12:00 PM
JARID JARID is offline
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Join Date: Feb 2004
Posts: 85
Default Re: S-Corp is the way to go.....umm maybe not.....

[ QUOTE ]
He is a Gamecock first and formeost, and then a TarHeel (oh the shame of it all).

[/ QUOTE ]

Is that allowed in the Carolinas? [img]/images/graemlins/ooo.gif[/img]
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  #72  
Old 07-28-2004, 12:44 PM
USCUNC USCUNC is offline
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Join Date: May 2004
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Default Re: S-Corp is the way to go.....umm maybe not.....

Well Jarid, you talk about acct's like i do lawyers.... necessary evils...

Thanks for helping this dude out. Also, since this isnt "work" related but misc. income there will be no self-employment tax - so that will save him 15% - the tax bite will be at his marginal tax rate - and may screw up some phased out deductions if his other "real" income is too high - ie his AGI - is in excess of about 150K.

its the price of sucess - also - unless he will face state taxes as well.

And gc is correct - im a gamecock! first and foremost.

Regards
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