Uninvolved owners can receive profit distributions instead of salaries, but mind the legal and financial fine print.
Antonio Costa, West Palm Beach, Fla.
I have two uncles living in Florida who co-own a successful business up north. Although they stopped running day-to-day operations about four years ago, they still receive full salaries.
Because they no longer run the business, can their salaries become dividend payments instead? Can they still receive dividends if the S-corp shows a loss? ...
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