Preserve future Scorp Dist while taking hourly wages?

My wife and I purchased a business in 2012, and didn't take a salary, but paid part of our loans to the business from earnings so we ended up with only claiming a few hundred dollars. In 2013, we moved our store to another shopping center and lent much more money to the business, and continued the same paying our loans payback. (Alot of the money used was borrowed from family, and we are paying it back quickly and using some to live on)



I thought we would be able to refinance my home mortgage in the Spring of 2014 (having owned the business for 2 years) , but a broker said we had to have taxable income and that all the loans paid would not count towards what I needed to refinance so.............



In 2014 I'm thinking of paying myself and my wife hourly wages, since we do work there alot to keep our costs low, so we have the taxable income. My wife and I do everything in the business, and work more hours than we can take as salary, but again we need taxable income. Our business is growing nicely since moving the store.



If we pay ourselves hourly for the next couple years, will we still be able to then pay ourselves a lower salary later when the business is doing better and take a distribution? We will be working much less hours, and more managing the store, Quickbooks etc.



Comments, suggestions, ideas?????



Thanks

Frank

smbizowner

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