Post a new topic
    0 Replies Latest reply on Aug 4, 2009 11:26 AM by schone

    Wyas to withdraw money from LLC

    schone Newbie
      Hello,

      I am about to set up my new business as an LLC and needed a clearer explanation of how to pay myself and my partner (both of us are member-managers) in the most efficient way.

      I understand that money can just be withdrawen and then taxed as SE, however I also understand there is a way to do payroll. I'm looking for advice as to which one is preferable from the stand point of being taxed less? Also, I understand there are other money withdrawl types such as bonuses etc and was wondering how those work exactly ? Do you just write a check to yourself? Do you need to tax it?

      Also, I was referred by a friend to paycycle.com and was wondering if that is a good solution for both payroll and other money disbursements?

      Thanks!