Hello...my name is XXXXX XXXXX I am a Certified Public Accountant. I look forward to helping you with your question.
I am sorry to hear about your situation with the IRS. My intent is to provide you with the facts and what determines a managing member.
A managing member of an LLC is an individual
who holds an ownership interest
in the company, participates in its day-to day management and has authority to contract on behalf of the company.
Non-managing members of an LLC do not have authority to enter into contracts on behalf of the LLC.
in general, the earnings of an LLC managing member are considered earned income
and are subject to self-employment
I know this probably isn't what you want to hear but I want to provide you with the facts rather than incorrect information that you want to hear.
I hope this provides you with the answers to your question. If I can be of additional service, please let me know. If this completes your question, then I ask that you would please rate
me with positive feedback based on the service I provided rather than the negative tax impact. As a professional, we are not compensated unless we receive positive feedback.
I thank you for allowing me to assist you and I look forward to helping you again in the future!
Shane - CPA