What I am wondering is if the net operating pretax income is subject to both tax on the corporation then what is distributed as salary out of the net operating income is then taxed again. Let's say that the net operating income is 50,000 dollars before any income taxes. In turn let's say that out of that 50,000 dollars 25,000 dollars is paid as salary. Is the 25,000 dollars taxed more than once such as once with the corporation then again as paid salary?
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Today's Featured Article - New Life for an Old Allis - by Tyler Woods. My friend Jon, has an old '39 Allis Chalmers B. He thought it a marginal tractor that had long since served its time. She smoked terribly and never had much power but he couldn't afford another so he was limping along with what he had. Jon's Allis has a small front loader and though it doesn't carry much, it serves his needs. It was the hard starting and low power that made him think it was time to replace the old girl. Jon called me to help him discover why his tractor wouldn't start
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