Hi everyone, I've been trying to find some answers and I keep finding conflicting answers when I search.
Here's the situation:
I'm trying to form a sole shareholder S-Corp that makes software. However, this will be a part-time job for me, since I already do have a full-time job, meaning that I'm expecting very little (relatively speaking) revenue.
I did some research and found that I would technically be an employee, since I'm actually writing the program myself. In this situation, would I be required to pay myself a salary, or can I somehow withhold my salary? Some people suggest I do have to pay a salary, while others state I don't.
The problem is that since very little revenue is expected, I can't even pay myself minimum wage. I would literally have to reinvest the check I get to pay my next check, all the while getting taxed on it.
Is there any advise on this situation?