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Lane. You helped me last year and I have 2 questions
Hi Lane. You helped me last year and I have 2 questions regarding an S-Corp.In a newly formed 1 member S-Corp or an established 1 member S-Corp how are shares established? What is the formula or who o… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,206 satisfied customers
If s corp shareholder pays for SBA loan on the s corp books
If s corp shareholder pays for SBA loan on the s corp books personally from his bank account, is that considered capital contribution to the corporation or shareholder's loan?Does that increase his st… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,206 satisfied customers
If we have a shareholder who invested $1m into our company 2
If we have a shareholder who invested $1m into our company 2 years ago, and we want to buy back his entire investment for $1 and issue him a $500k promissory note, what are the tax or legal implicatio… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,206 satisfied customers
Continuing on the subject income My S corp had a balloon
continuing on the subject COD income My S corp had a balloon payment due in 2019 on a loan co borrowed by myself , but did not pay and entered into negotiations with the lender Another S corp ,which I… read more
PDtax
PDtax
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Where specifically in the Internal Revenue Code, IRS
Where specifically in the Internal Revenue Code, IRS publications, or otherwise does it state that Business Credit Card Debt (personally Guaranteed by the Sole Shareholder of an S Corp) does NOT incre… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,529 satisfied customers
I have an s-corp shareholder loan repayment question. I am a
I have an s-corp shareholder loan repayment question … read more
DK_CPA
DK_CPA
CPA
Master of Science in Accounting & Taxationb
2,514 satisfied customers
Shareholder loan his S corporation 140K with debt basis
shareholder loan his S corporation 140K with debt basis 120K. Shareholder want to classify this loan as capital contribution. does the shareholder have tax consequences on his personal return on this … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,206 satisfied customers
I have a company s corp one owner 60% the other 40% in 2014
I have a company s corp one owner 60% the other 40% in 2014 the accountant took out the partner of 40% and the shares were sold for 170,000. but now they have to start paying out the agreement of the … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,529 satisfied customers
S-Corporation shareholders loan the business funds. It's on
S-Corporation shareholders loan the business funds. It's on the balance sheet and it is still owed to the shareholders. The shareholders are selling the business. Question, how are the shareholders pa… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
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can a 100% s/h of an s corp take a loan properly documented the
can a 100% s/h of an s corp take a loan properly documented the s corp s/h has zero basis ? is there case law reclassifying this type of loan receivable to distrbution in excess of basis… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,206 satisfied customers
o, let's say for argument's sake that there are 20,000,000 shares in CompanyA.
o, let's say for argument's sake that there are 20,000,000 shares in CompanyA. And let's say that the CEO owns 10,000,000 shares. Then the company takes a $2 million loan as a company from a private l… read more
socrateaser
socrateaser
1,544 satisfied customers
Can someone expand on the tax benefits I receive from taking
Can someone expand on the tax benefits I receive from taking a loan, then loaning that money to my s-corp to create basis? vs. getting a loan directly for the s-corp… read more
taxmanrog
taxmanrog
Master's Degree
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My clients business is set up as a S corp. There are 2 shareholders,
My client's business is set up as a S corp. There are 2 shareholders, unrelated by marriage or family. One shareholder has a 1% interest, the other 99%. The 99% shareholder wants to buy out the other … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,529 satisfied customers
I am interested in selling my employee benefits insurance agency.
I am interested in selling my employee benefits insurance agency. No physical assets, just a cash flow from ongoing commissions. I have had the agency, an S corp for over 20 yrs. I am sole shareholder… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,529 satisfied customers
Just found out my former business partner filed bankruptcy
Just found out my former business partner filed bankruptcy on the $30,000 promisory note for partnership in 2009. The debt is uncollectable, the business closed in that year. Can I amend my personal 2… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,529 satisfied customers
I take a loan from my corporation for $500,000 and commit to the loan with a promisso
I have a C-Corp and I am the sole shareholder. I take a loan from my corporation for $500,000 in 2006, $500,000 in 2007 and another $500,000 in 2008 and commit to the loan with promissory notes with m… read more
socrateaser
socrateaser
1,544 satisfied customers
Selling shares of stock in S-corp. Subject to Long Term Capital
Selling shares of stock in S-corp. Subject to Long Term Capital Gains (held more than 3 years). Payment is by interest bearing promissory note over 5-year period. Is the Capital Gains calculated at th… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
23,416 satisfied customers
I hava a new corporate client. In the Balance sheet there
I hava a new corporate client. In the Balance sheet there is a loan to him from the corporation of $102000. and in the Equti section there is a $171,774 additonal paid in capital. I am thinking of off… read more
jgordosea
jgordosea
Enrolled Agent
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