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Could you please suggest what should the range to pay yourself, so it won't be too little or too much from IRS point of view.
Thanks for all your comments and suggestions;-)
joined:Dec 10, 2005
It all depends on your business, your industry, your location, etc.
For any LLC questions be sure to visit your state government website (usually Secretary of State, Dept of Revenue, or similar), and you'll probably find a lot of useful information particular to your state (every state I've looked at forming an LLC in has had a large amount of information on their website). Also, sba.gov usually has good resources. In general, when relying on something you're reading be sure it's coming from a trusted source.
In order to benefit from the LLC and to help avoid audit risks, the members need to be paid gross wages of AT LEAST 20% of the profits from the LLC.
How about a citation for the above. And what the heck country is this being posted about? I'm not aware of any such fixed rule in the USA. There are people here from the USA and the UK (at least) talking about tax regs.