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go pay for good advice.
that said,
-as an active member of an LLC you will pay FICA on 100% of the net if you file as an LLC.
-if you elect to be taxed as an S corp you mitigate this issue.
-IIRC your wife is a doc of some sort? if so you do not want her as a shareholder/member as any personal liability from her job my jeapordize the assets of your bsns.
-HOWEVER, as a non-active member of an LLC she may be able to have a share of the net without paying FICA which is a good thing. but then we're back to the LLC vs. S corp thing.
-i don't recall offhand which disciplines are considered PSC's by IRS but you will need to look into this issue as part of your entity choice process as well.
See why you need to pay somebody?
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Well i had #6 adjusted perfectly but then just before i tightened it a butterfly in Zimbabwe farted and now i have to start all over again!
I believe we all make mistakes but I will not validate your poor choices and/or perversions and subsidize the results your actions.
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