Home Improvement Contractor - Licensed Contractors - Can a 50% shareholder of a company become an indepent contractor for that company?

Can a 50% shareholder of a company become an indepent contractor for that company?

If so, can the company pay out the independent contractor as an expense? This question is for a US corporation.

not in uk what country r u in?
Is the public the other 50%? If not, why not? Check your Articles of Inc. Take as expence for biz but income for you... Not much difference? or if there is a good difference, congradulations. Your a businessman.
The real question is are you an officer of the company? If your an officer of the company you and working for the company then you should be on the payroll. The irs has strick rules regarding independent contractors. If you just own stock you can be a contractor. You need to have a formal contractor agreement, the contractor has to be a registered company and The contractor has to bill the company no more then once a month and list the services performed to the company. Many times actors are hired this way and the actor will have John Doe & assoc LLC or such set up. The irs is getting tough on this since the social security system is not that wealthy. Many companies feel its ok to treat employees as independent contractors to avoid paying payroll taxes and such.