Is an owner of a company an employee 2024?
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Studied at the University of Oxford, Lives in Oxford, UK.
Many business owners assume that because they receive a salary, they should pay income tax on that salary as if they were an employee. The IRS does not agree. The owner in such a case is not an employee, and must therefore pay self-employment tax.
2023-05-17 00:39:21
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Ethan Brown
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Many business owners assume that because they receive a salary, they should pay income tax on that salary as if they were an employee. The IRS does not agree. The owner in such a case is not an employee, and must therefore pay self-employment tax.