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2012 Taxable In = $560000 2013 = $150000 LLC

2012 Taxable In = $560000 2013...
2012 Taxable In = $560000
2013 = $150000

LLC Generates the Income

Is this an Inc Average Tax Filing for 2013
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Answered in 3 minutes by:
6/4/2013
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 16,208
Experience: 15years with H & R Block. Divisional leader, Instructor
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Robin D :

Hello and thank you for using Just Answer,
The Income Tax Act of 1986 abolished Income Averaging for all but a few tax payers. Those taxpayers that may use income averaging are farmers, fishermen, and some retired individuals that receive pension income.
The LLC, is this a sole owned LLC?

Customer:

Yes I own all shares of the LLC

Customer:

The Income is from Highway Const & equip Busniess

Robin D :

Unless the LLC is for a farm or fishing then income averaging would not be an option unfortunately.

Customer:

OK Thank you

Robin D :

Which I could advise differently

Robin D :

Your positive rating is always thanks enough.

Robin D :

When you visit your question homepage, you’ll see a link to request me again. This link displays and works whether I am online or offline.

Robin D :

Let me know if you have any difficulty with the rating options.

Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 16,208
Experience: 15years with H & R Block. Divisional leader, Instructor
Verified
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Category: Tax
Satisfied Customers: 16,208
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