Thread: Wages
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Old 12-19-2006, 04:02 AM
boklos boklos is offline
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Default Wages

Ok let's say I'm starting up my new single member LLC company and I'm a salaried employee doing exactly the same kind of work elsewhere because my company isn't big enough yet. Can I take the money I make at the other facility and do anything for my business with it?

Please tell me what I can legally do for my company with the money I make from working at another company. Off the top of my head, even if it were legal to deposit that money into my business, it seems like that income would be taxed twice because first my income is taxed, then the profits in my business would be taxed. That's probably unless I elect not to have my company withold taxes? But then there's the problem that "my company" didn't do work for them.

It seems common sense to not to put that money into my business, but I just wanted to stimulate discussion in this regard, as to what I can do for my business with that money.

Much appreciated
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