Quote:
Lawdog:
Wages paid to employees are an expense of the corporation, not a type of corporate profit.
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depends which corporation. One corporation's expenses are wages- another corporation's wages are profits.
I use the term "corporate" loosely, but correctly: the "individual" is a kind of 'corporate sole'. Blacks has it that an individual is
"an indivisible entity w/ a legal identity seperate from its owner, like a govt or business organization"
Apparently profits and gains are considered to go together with legal status. Gotta have one to get the other.
Wages are an item of gross income, which is the raw total of all proceeds from the venture, in whatever form.