Setting salary for LLC S-Corp

[Aquaman29]

Hey friends,

I am starting a new job with My LLC will be paid the minimum rate

1. How do I set my salary for my S-corp? ( I would prefer to be aggressive, but not crazy )
2. Should the salary change every month depending on my total pay (minimum + rvu)?
3. When should I actually pay myself salary and dividends?
4. Who is everyone using for payroll now a days?

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[GeneralVeers]

1. Varies by state. Either look at your Secretary of state website or have your tax attorney set it up for you
2. I keep my salary the same. If you google "Average Emergency Physician salary" it is $240K. That is what I pay myself as W-2.
3. I pay my W-2 on the last business day of the month. Dividends I pay out bi-monthly. I pay my spouse a small salary as a personal assistant on the last day as well.
4. I use Paychex for payroll. It is fairly cheap, and they do everything for me including direct depost, 401K, and paying all taxes.

 

[sluggs]

I do a single payroll a year. About 60% of my net. Give myself max contribution yo SEP Ira too