Owner Save
October 27th, 2010
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Owner Save
A small business tax savings by including your own salary as an expense?
If the salary is included as an expense then the income tax for companies is less, but, of course, the owner must pay his own income tax. So better not be pay wages and somehow so nice after all and do not pay income tax? References really help here. Thank you!
As it is a small company, I suppose it is incorporated. A sole proprietor can not be paid a salary. The partners also not to pay wages, but pass through income to the partners introduced into individual statements. So the answer is no, you can deduct and do not pay income tax.
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