My wife and I are purchasing a gym in a few months.
I think I want to open it under an S corp for tax purposes.
If the business is set up with me as the only owner would I be able to pay my wife a small salary and not pay myself, and avoid self-employment tax?
Or should we both be owners since either way we'll have to pay self-employment tax on our salary?
I think I want to open it under an S corp for tax purposes.
If the business is set up with me as the only owner would I be able to pay my wife a small salary and not pay myself, and avoid self-employment tax?
Or should we both be owners since either way we'll have to pay self-employment tax on our salary?
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