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Lane, we spoke yesterday. If my company is an LLC and we
Hello Lane, we spoke yesterday. If my company is an LLC and we submit form 8832 to be taxed as a C-Corp when we switch to an actual C-Corp in the very near future do the owners still need to submit a … read more
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Lane
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My partner (Canada) and me (Argentina) are starting a
My partner (Canada) and me (Argentina) are starting a business in the US.We have filed an LLC in Delaware and are applying to the EIN as we speak.We are trying to decide if to file the EIN as a Partne… read more
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Eric
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I'm debating registering my to an LLC. I am currently (I
Hi I'm debating registering my biz to an LLC. I am currently (I think) a sole proprietorship but I have a business partner and we split everything 50/50. Can you please help with whether it is worth i… read more
Carter McBride
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First of the two questions: charging order Ok, so, as you
First of the two questions: charging orderOk, so, as you probably noticed, I'm very new to this... taking in all I can and trying to extrapolate enough that I don't go into this project entirely blind… read more
Lane
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Doctoral Degree
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We (my spouse and I) are preparing to register an LLC in CO,
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Lane
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Doctoral Degree
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I and my partner are trying start a business and need
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Barbara
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Hi,What should i begin with in order to file taxes for LLC? What will be my steps?Thank you.… read more
Lev
Lev
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My husband and I just formed an LLC. He does some consulting
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Chad EA, CDFA®, CFP®
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I live in Kansas and have an LLC set up and think I have
I live in Kansas and have an LLC set up and think I have made a mistake by doing so. … read more
Lane
Lane
JD, MBA, CFP, CRPS
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Here's the situation for a CPA. I've picked up the
Here's the situation for a CPA. I've picked up the bookeeping of restaurant that started in 2016. The LLC members filed as a partnership for 2016. They then started to pay themselves a salary (and withheld payroll taxes) in 2017 as they thought the old bookkeeper filed an S corp election. He did not. It's my understanding partners should not pay themselves wages and have payroll taxes withheld. The partnership also has losses this year beyond any equity put into the business so 2018. I've read that one can file a late S Corp filing in order to allow wages however last years return was filed as a pship 1065. I'd like to keep this as simple as possible as the business might be done in a few months depending on finding funding. Although it doesn't seem appropriate, what's the downside of filing W-2s for the members/partners of the LLC and filing a 1065 for 2017? Thanks,Todd … read more
Lane
Lane
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Doctoral Degree
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I am going to be paid by job 150k a year for 2 of us how
I am going to be paid by job 150k a year for 2 of us how should I receive money llc or individual we are not married … read more
Lane
Lane
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Doctoral Degree
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I have an Accounting question, A business owner says they
A business owner says they funded a SEP account using there personal bank account and not there business bank account. How to record this transaction as a business expense on the books? Or is that even possible? … read more
Lane
Lane
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Doctoral Degree
21,498 satisfied customers
LLC has not filed an election to be taxed as an S-Corp. The
LLC has not filed an election to be taxed as an S-Corp. The business registered in the state of florida March 2015. Started full operation in May 2016. The business is not up and running. First year 2… read more
Barbara
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My son and I Incorporated our business last year to an LLC.
My son and I Incorporated our business last year to an LLC. He is the owner of the business and we have had payroll companies process payroll since the formulation of the company. The LLC is registere… read more
BK-CPA
BK-CPA
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I have a client who has several LLCs, all partnerships. One
I have a client who has several LLCs, all partnerships. One is a bit unusual. For some reason--I think it was to shield a friend's asset during a tough finanical time-- they created an LLC that includ… read more
Stephen G.
Stephen G.
Sr Financial Expert
Bachelor's Degree
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I have a question about tax returns s-corp. started business
Hello, I have a question about tax returns for my s-corp. started business in july 2015. operating expenses were around 38K (which i paid out of pocket from personal account). around mid november, i s… read more
Lane
Lane
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My wife and I own a home health company that is registered
My wife and I own a home health company that is registered as an LLC in CA, and we've elected to be taxed as an S Corp with the IRS. We started the business in March 2014, and our profit has been very… read more
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