3.) What if your company is a partnership? This can get tricky. It depends on the type of partnership and whether you're a general partner or a limited partner. Partners can receive different types of income, some that's subject to self employment tax and some that's not. This has to do with something called guaranteed payments.
These might seem like payroll to you, but partners in a partnership are never treated as employees by the IRS.
If you're considering operating your business as a partnership, work with an accountant or tax attorney who specializes in this area, because it can get pretty complicated.
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