TPApril Posted January 22, 2021 Posted January 22, 2021 LLC has owner and one employee What with the pandemic, owner ended up taking zero in W-2 pay in 2020 while supporting the employee. Owner took draws though as I'm informed. Plan doc defines comp as W-2. Owner files main taxes as S-Corp. Owner now wants to make a profit sharing contribution to both her and employee and wants to know if there is another way to calculate it for herself. I said no but she asked me to try to research it.
Bill Presson Posted January 22, 2021 Posted January 22, 2021 SOL without a w-2 for this company. Any chance there is some sole proprietor comp out there? Luke Bailey 1 William C. Presson, ERPA, QPA, QKA bill.presson@gmail.com C 205.994.4070
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now