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My LLC is Delaware based with principal place of business in

My LLC is Delaware based with principal place of business in San Francisco, CA. We'd like to hire someone to work from his home in Florida, doing social media work - does this constitute having a business connection (nexus) in Florida?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: noope

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Mark Taylor

Certified Public Accountant

Masters

3,388 satisfied customers
On the 1120S tax return, schedule L, and K1, how do I

On the 1120S tax return, schedule L, and K1, how do I properly account for partner distributions? For example, the business has 2 partners, and had a net profit of $50,000. Each partner received $25,000 at end of year (their share of the profits). So, in this case would retained earnings increase by net profits, even if the entire profit was distributed to the partners? Also, is there a line on the K1 that will show the $25k received by the partner?

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

11,134 satisfied customers
I was trying to file a delaware franchise tax return +

i was trying to file a delaware franchise tax return + annual report and I saw that the person filing the report does not have to provide any kind of authentication at the time of filing. Is this correct? Or have I missed anything?

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

11,134 satisfied customers
I'm looking for consultation involving divorce and corporate

I'm looking for consultation involving divorce and corporate lawJA: Because family law varies from place to place, can you tell me what state this is in?Customer: PennsylvaniaJA: Has anything been filed or reported?Customer: I'm in divorce settlement and need advice in particular arrangement.JA: Anything else you want the lawyer to know before I connect you?Customer: I need Lawyer versed in CPA issues along with family law.

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Matthew Breecher

President

MBA (Graduate Legal Studies)

330 satisfied customers
What happens if I didn't take a wage from my s-corp? Can I

what happens if I didn't take a wage from my s-corp? Can I just pass through all my income as dividends on my k-1?

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Mike-USACPA

President

82 satisfied customers
We have interns coming in May for 2 weeks; do we give them a

Hi: We have interns coming in May for 2 weeks; do we give them a 1099 or W2? They will be doing office work and helping others with various assignments.JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: We are located in Washington, DC. Both interns are currently attending college, I believe in their second year. BTW, do I have to pay for the Accountant's advice?JA: Is there anything else important you think the Accountant should know?Customer: Not really.

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Matthew Breecher

President

MBA (Graduate Legal Studies)

330 satisfied customers
Thank you. This is what I was trying to achieve and the

Thank you. This is what I was trying to achieve and the reasons why I went LLC first with the intention of C-Corp election as a step 2.* “C” Corporations (i.e., general Corporations without “S” Elections or LLCs that elect “C” Corporation tax status) pay a 15% federal tax rate on the first $50,000 of taxable income.* Consultants can avoid the personal service Corporation tax status by issuing 6% of stock or LLC units stock to a person (including a spouse) that is not employed by the Corporation or LLC.Looks like I screwed up by missing the date. Also, I have not yet setup payroll for myself, W-2 etc. I have been receiving monthly revenue since January 1, 2017 on a monthly basis but I have NOT distributed any of that revenue to myself or anyone else in the form of compensation.With this in mind - am I still in a position to request relief per your guidance?I really appreciate your help.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,938 satisfied customers
If I give an officer's compensation to a non-shareholder,

If I give an officer's compensation to a non-shareholder, how does that effect his taxes? And my s-corps?

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ABC Accounting Group

Bachelor's Degree

1,366 satisfied customers
I'm considering creating an LLC, S Corp, or Limited

I'm considering creating an LLC, S Corp, or Limited Partnership to trade stocks in. I currently have a full time job and continue to reinvent all Gains back into the brokerage account. Eventually I would like this to be my primary source of income. Would there be a significant tax advantage to doing this?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,938 satisfied customers
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