Hello, The situation I have is I want to move pre-tax funds (payment for services) from company A (I do not own) to company B (I do own) this is as simple as writing a check. As of right now company B is an LLC. My question is, if I deposit the money into the business account and elect to be taxed as a C corp and never take a distribution can I get away with just paying the new corporate tax of 21% and not have to record personal income? The snag here is how I can spend the money out of the company without it being linked to me as income. I don't need the cash but if I can spend it without having to pay the extra 10% or so in income taxes that would be ideal. Thanks for reading!
