The IRS.gov website states "An officer of a corporation is generally an employee, but an officer who performs no services or only minor services, and who neither receives nor is entitled to receive any pay, is not considered an employee". So does this mean I can place myself as a Officer and not pay myself, so I won't withhold taxes from myself?
I'm the only Shareholder and Director of the C-Corp with 51% of the Common Stock, and I'm putting my own money in my C-Corp to capitalize the business.
Earlier I've spoken to a CPA and he explain to me to file as a S-Corp, this way I can avoid withholding taxes. But a tax attorney told me to stay as a C-Corp if I want to keep the money in the business.
I want to avoid withholding taxes but keep the money inside the business to capitalize it. HELP?
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