Tax Articles

Is the first $2000 of a persons unemployment compensation still nontaxable?

Ive read a few comments here, so here is my scenerio

S-Corp Net Income 30,000 distributions 40,000

What will I be taxed on and at what percent

I have another twist on this question. I have been working under an S-corp for 5 years. My main client would like me to go on W-2. Can I still do this and take my business deducttions. I would work for the major client 60-70% of the time, and would still have other clients.

Or, what happens if I worked for one client exclusively? I would still meet the requirements as a consultant.