I take the tiny salary, as well as I have increase left over in my bank account. Will I have the taxation chastisement if I take increase or should i re-invest the income behind in to the company?
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Tagged as: bonus, made, profit, reinvest, salary, Should, Some, some/all, take
{ 3 comments }
The truth is you will pay tax on the profits whether you take them or not. If you pay it out in a bonus you will also pay fica/medicare and other payroll related taxes.
If you decide to reinvest however you won’t be subject to those types of additional taxes, just income tax.
How about sharing it with the “hard working” folks that made it for you!
Investing is by far the better option.
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