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My wife and I both live in WA and own a single-member LLC. I
Second opinion] My wife and I both live in WA and own a single-member LLC. I recently setup a 401k with a traditional & Roth account for each of us. I've been a sole proprietor for many years and don'… read more
Lev
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LLC and Tax implications with it, North Dakota, Business
Business startup questions for establishing LLC and Tax Business structer … read more
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I have a client that is a partnership with 4 partners. Not
I have a client that is a partnership with 4 partners. Not all of the partners are interested in participating in a retirement plan but one is. What options are available to that partner if she receiv… read more
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Lane
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Lane, If you are a general partner in an LLC Partnership
Hi Lane,If you are a general partner in an LLC Partnership with your wife, can the partnership contribute to a SEP only based on the self employment income? What is the maximum $ amount and % of incom… read more
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For a single member LLC, can the Salary & Wages be carried
For a single member LLC, can the Salary & Wages be carried on the K1? The K1 for the 1065 has 'Line 14, Self-Employment Income', the K1 for the 1120S doesn't seem to have the same magnificent feature.… read more
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Can S corp 2% Shareholders/employees use Premium Only Plan
Can S corp 2% Shareholders/employees use Premium Only Plan for pre-tax medical premiums? Which attribution rules apply? Switching from a C to S.… read more
Lane
Lane
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I have a client that has an S corp where he is the only
I have a client that has an S corp where he is the only employee. He doesn't do much W2 income. Can his SEP contribution be based on the net income of the business or his K1 income at least?… read more
Lane
Lane
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Doctoral Degree
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owner of a single member LLC with no employees wants to fund
owner of a single member LLC with no employees wants to fund a one-participant 401K for 2014. Is this set up by the company or by the individual? If it is set up by the company, he sold a 90% interest… read more
Lane
Lane
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I am a non-member manager of an LLC. A member is one of our
I am a non-member manager of an LLC. A member is one of our "employees" working for me in sales and manufacturing (on the floor). Can we pay him a salary with a W2 if we elect to file as an S corporat… read more
Megan C
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I am trying to find out if I start a sole proprietor business
I am trying to find out if I start a sole proprietor business with my spouse, if we are eligible to file our taxes as married filing separately. The issue has to do with my existing student loans that… read more
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LLS as a sole proprietor, whats report have to file in the
LLS as a sole proprietor, what's report have to file in the end year ?. Is it true if there are some income goes to SCH C in personal Tax Return and that's it. Have to file 941 if no employee? thank y… read more
Lane
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Doctoral Degree
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My wife and I own an LLC. I wish to pay her $23,000 which she
My wife and I own an LLC. I wish to pay her $23,000 which she will put into a 401K I will then match the $23,000 with a profit share contribution of $4,000. Should i class her as an employee and if so… read more
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I had asked a question previously when a SEP IRA was used,
I had asked a question previously when a SEP IRA was used, however, I have a different twist to a different type of plan. Again this is a muti-member LLC filing as a partnership. The partners are a hu… read more
PDtax
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California tax question: I want to create a LLC to conduct
California tax question: I want to create a LLC to conduct a rental business in Hawaii--I live in California and has been filing taxes as "married and filings jointly" with my wife. What are the consi… read more
Lev
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My family began a small plant (flowers, herbs, teaching) based
My family began a small plant (flowers, herbs, teaching) based business this growing season, with not more than $1500 in gross sales for this first year. We have a few questions, which are inter-relat… read more
jgordosea
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My wife and I made $234,000 in Schedule C income this year
My wife and I made $234,000 in Schedule C income this year (no 1099s). She also made 46,000 in W-2 wages. We were not incorporated and not even registered sole proprietors. We want to set up a self-di… read more
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Last March my wife filed a single-member LLC. She was required
Last March my wife filed a single-member LLC. She was required to get an EIN for opening a bank account so she got one from IRS. It automatically classified her entity as "sole-proprietorship" for tax… read more
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I have a 3 member LLC operating as a partnership that own a ...
I have a 3 member LLC operating as a partnership that own a motel. One member bought out the other two. The surviving member is a husband and wife. Question, does the LLC continue to report as a partn… read more
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