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Guest-5ty5s4
Guest
I'm not a CPA or an attorney but I have a bit of experience and inside information on how this can work.
You can do that, OR you could incorporate your business and hire yourself as a W2 employee with a salary.
(well, actually the business entity hires you, and you own the shares of the business)
Every legitimate business will ultimately lead to the latter option. You will still be the owner, but you will have two "roles," and the employee role is important for banks and stuff.
Again, I am not a CPA or attorney but this seems to be how it works. Someone else might chime in.
You can do that, OR you could incorporate your business and hire yourself as a W2 employee with a salary.
(well, actually the business entity hires you, and you own the shares of the business)
Every legitimate business will ultimately lead to the latter option. You will still be the owner, but you will have two "roles," and the employee role is important for banks and stuff.
Again, I am not a CPA or attorney but this seems to be how it works. Someone else might chime in.
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