LLC and Payroll Questions
There are hundreds of topics on this forum regarding tax strategy for LLC. When I talked to my CPA, they explained if I will classify my company with IRS as S Corp, then I will be avoiding paying self-employment tax, but I also will need to put myself on the payroll. If I will keep my LLC (two members) as partnership for tax purposes then I will be paying slightly more taxes but do not have to deal with payroll. Currently under this LLC, I will be doing about five rehabs a year and some wholesaling. Which is low number of deals. In this case what do you guys suggest? classify my LLC as S-Corp and deal with payroll hassle or keep it as partnership?