Question
S-Corp would also have to pay Payroll Taxes, so would the additional Payroll Taxes and the lowered Self-Employment Taxes still equal a savings?
+7- HoneyBook Community Team
+4Hi Megan!
Self-employment tax is a type of payroll tax. Basically, when you are an as an S-Corp, on your salary you would pay payroll taxes (self-employment taxes) and on your distributions you wouldn’t have to pay self-employment taxes.
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