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Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 11167
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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My business partner and my self built and apartment complex

Customer Question

My business partner and my self built and apartment complex at cost using and llc that is only under my partners name. Her Account wants us to charge the company we formed and that owns the apartments a minimum fee of 10%, but we feel is to high. The apartments are owned 50/50 by the way. Does the IRS sets a minimum amount to charge? We feel is high because we obiesly built it we the purpose of doing it at cost.
Submitted: 1 year ago.
Category: Tax
Expert:  Lane replied 1 year ago.

Hi,

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Can you tell me a little more ... 10% of What? and for what?

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Is this a charge to do tax returns, ... an estimate of tax LIABILITY?

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Can you please give me a little more detail?

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Thanks... I'll be here

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Expert:  Lane replied 1 year ago.

P.S.

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If you are talking about a charge to do returns ... NO the IRS does not set ... and can not in any way .. set fees, or charges, OR (after the Loving case) the Supreme court has said that they cannot endorse one tax preparer over another in any way.

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Again, please let me know a little more about what you're asking so I can give you a complete and specific answer.

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If this HAS helped, (and you don’t have additional questions on this), I'd really appreciate your positive rating … (by clicking or touching the stars or smileys on your screen) … … That’s the only way I'll be credited a portion of what you've paid JustAnswer.

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Thank you,

Lane

Expert:  Lane replied 1 year ago.

Hi,

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I'm just checking back in to see how things are going.

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Did my answer help?

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Let me know…

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Lane

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