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Response to questionseverything (Reply #17)

Tue Aug 4, 2020, 09:23 PM

22. LLCs and S-corps do not file or pay federal taxes

They can pay wages to their employees. My S-corp paid me a salary and salaries to my employees. Any profits retained in the corporate account at the end of the year became business income to me on which I paid taxes as if they were regular non-wage income. This income would be taxed similar to income you would get from a rental property.

The admins "work" and I hope make some reasonable salary or profits from the endeavor. They incur expenses to run the site and are giving up other pursuits in order to run the site.

Many schools and hospitals operate as non-profits but are still expensive to operate. They have employees and usually pay them competitively.

I wonder why they call it a "donation"?
I suspect they use the term donation as there is no set price for an hour, month or year of ad-free access and you can elect to pay more than a dollar if you wish to.

If you have additional questions, there's a link for that: https://www.democraticunderground.com/?com=ata

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Replies to this discussion thread
Arrow 32 replies Author Time Post
EarlG Aug 2020 OP
Merlot Aug 2020 #1
EarlG Aug 2020 #5
in2herbs Aug 2020 #2
EarlG Aug 2020 #3
in2herbs Aug 2020 #4
EarlG Aug 2020 #6
in2herbs Aug 2020 #7
in2herbs Aug 2020 #10
EarlG Aug 2020 #11
in2herbs Aug 2020 #12
EarlG Aug 2020 #13
in2herbs Aug 2020 #25
questionseverything Aug 2020 #8
caduceus111 Aug 2020 #9
Kali Aug 2020 #14
questionseverything Aug 2020 #15
Kali Aug 2020 #16
questionseverything Aug 2020 #17
Kali Aug 2020 #18
questionseverything Aug 2020 #19
Kali Aug 2020 #20
questionseverything Aug 2020 #21
LineLineLineLineLineLineReply LLCs and S-corps do not file or pay federal taxes
discntnt_irny_srcsm Aug 2020 #22
questionseverything Aug 2020 #23
discntnt_irny_srcsm Aug 2020 #24
Post removed Aug 2020 #26
Kali Aug 2020 #28
Kali Aug 2020 #27
EarlG Aug 2020 #31
Kali Aug 2020 #32
Behind the Aegis Aug 2020 #29
EarlG Aug 2020 #30
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