abctax55
Level 15
08-06-2021
02:11 PM
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"...I don't like when they don't ask before they do this stuff. Sets you up for an audit when you are taking close to a 1,000,000 in distrubtions and not taking the kind of salary to justify this."
Salary is based on the services performed/provided to the entity, based upon reasonable compensation for such services. Salary has NO direct correlation to the amount of the distributions or even to the net income of the entity.
PPP loans increase basis... make sure that amount is factored in.
HumanKind... Be Both