Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
I going to open a new company. I have a partner who is going
Hi Fred I going to open a new company. I have a partner who is going to invest 50% in my company. To start with, I will be the only owner. After one month or so, he want to get officially added or bec… read more
Fred Rook
Fred Rook
Corporate Controller
BSBA
474 satisfied customers
I HAVE A PARTNERSHIP TOTAL OF 3 PARTNERS. I COMPLETED THE
I HAVE A PARTNERSHIP TOTAL OF 3 PARTNERS. I COMPLETED THE 1065 BUT WE DIDNT DISTRIBUTE AN EQUAL AMOUNT OF PROFIT IN 2017. I RECEIVED MORE THAN MY OTHER PARTNERS AND I WAS NOT SURE IF YOU CAN STATE A D… read more
Carter McBride
Carter McBride
LLM
3,128 satisfied customers
What is the tax effect of an admission of a new partner in
what is the tax effect of an admission of a new partner in an LLC who contributed cash? no revaluation of assets (only real estate property asset on the books) have been done prior to admission.… read more
taxmanrog
taxmanrog
Master's Degree
2,930 satisfied customers
Introducing a new LLC member and researching whether partner
Introducing a new LLC member and researching whether partner capital accounts need to be aligned to match ownership percentages immediately following entrance of new member. In my case, existing 50/50… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
4,170 satisfied customers
Does or how can a limited partnership qualify the 1031 safe
Does or how can a limited partnership qualify the 1031 safe harbor for vacation home as replacement property?… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,902 satisfied customers
I have a complicated issue preparing a return partnership.
I have a complicated issue preparing a return for a partnership. 6/1/14 there was a change in partners for Company A. All but 1 partner left and several new ones came in. Not only did they change part… read more
PDtax
PDtax
Owner
Master's Degree
9,530 satisfied customers
Two individuals are starting a company as a LLC Partnership.
Two individuals are starting a company as a LLC Partnership. One 2/3 ownership and the other 1/3.They have equipment that is easy to value and add as an asset. The question is about merchandise on han… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,902 satisfied customers
I have an LLP which has 2 partners and we file an 1165 return.
I have an LLP which has 2 partners and we file an 1165 return. We have no formal partnership agreement. My partner in 2013 had 70% interest on her K-1 and I had a 30% interest. In 2014 all profits ($3… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,902 satisfied customers
If a Single-member PLLC changed to a Multi-member PLLC by
If a Single-member PLLC changed to a Multi-member PLLC by having new partners (partner B & C) contributing money during the year. What are the consequences? The PLLC is in the business of Dental pract… read more
Barbara
Barbara
Enrolled Agent, Paralegal
15,018 satisfied customers
, I have an LLC with my mom in Florida, this is our first
HI, I have an LLC with my mom in Florida, this is our first year filing 1065, our scenario is the following: this year my mom didn't participate in the operation of the business and we have decided th… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
There is a 2 member LLC taxed as a partnership that owns a
There is a 2 member LLC taxed as a partnership that owns a rental property and trying to understand the tax impact of changing ownership. Right now, it's 99% and 1% but we want to go to 50%-50%. 99% o… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
3,161 satisfied customers
Mr. Bell, I am doing a partnership return (1065) via Turbo
Mr. Bell, I am doing a partnership return (1065) via Turbo Tax for a small start-up firm. The llc consists of 4 partners, 1 passive member, 3 managing members. The passive member put relatively substa… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,902 satisfied customers
I have a client who has an LLC, they own 100% of the LLC....2
I have a client who has an LLC, they own 100% of the LLC....2 partners. The want to bring an investor in for $500,000 and give them 2% of the company...they anticipate the company to be worth 25m.....… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
3,161 satisfied customers
Issue relates to preparation of partnership tax returnThere
Issue relates to preparation of partnership tax return There are 3 equal partners, Original formation of partnership property was not contributed equally. One partner contributed property from which w… read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,670 satisfied customers
If a partnership admits new partners must the losses be allocated
If a partnership admits new partners must the losses be allocated on a pro-rata basis (varying interest) or can they be allocated based on the capital account balances before any loss allocation?… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
4,670 satisfied customers
We are just starting a business and we just formed a limited
We are just starting a business and we just formed a limited liability corporation. There are 4 -25% equal partners in the LLC. There are 2 of us with good credit and 2 of us with poor credit. We are … read more
BK-CPA
BK-CPA
Bachelor's Degree
972 satisfied customers
There were 4 partners in a partnership until 2008. Three gave
There were 4 partners in a partnership until 2008. Three gave the 4th partner the p/up truck he was driving as a buy out. Is this to be shown as a distribution?… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
3,161 satisfied customers
I am creating a new LLC (#1)to become the Parent Company of ...
I am creating a new LLC (#1)to become the Parent Company of an existing LLC (#2). I am transferring all assets of #2, including contracts, employees to #1 except for the holding of a subsidy. What are… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
3,161 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

3,161 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x