I'm no financial wizard... I have an LLC with an S-Corp election.
I run payroll on myself and pay myself a reasonable salary.
What would I need to do if I got a "normal" job again, the business will make some money for a while but eventually taper away.
I can't have a normal paycheck with deductions and my business payroll at the same time I'm assuming... just looking for general advice here as to what steps would be involved. (Dissolve the company? Revert back to a sole proprietor, etc...)
Thank you for any advice.
I run payroll on myself and pay myself a reasonable salary.
What would I need to do if I got a "normal" job again, the business will make some money for a while but eventually taper away.
I can't have a normal paycheck with deductions and my business payroll at the same time I'm assuming... just looking for general advice here as to what steps would be involved. (Dissolve the company? Revert back to a sole proprietor, etc...)
Thank you for any advice.
via Small-Business-Forum.net http://www.small-business-forum.net/accounting-taxes/10457-llc-s-corp-what-happens-if-i-get-normal-job.html
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