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Last tax year (2016) Me and my friend setup a Partnership
Last tax year (2016) Me and my friend setup a Partnership 1065. At the end of 2016, I bought my partner out and now I am the only member in the business starting from Jan 2017. So, do I still file a 1… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,325 satisfied customers
If i am on h1b and in a year there is profit in business how
Hi If i am on h1b and in a year there is profit in business how can i claim it in business tax returns. If i need to file K1 where do i put the profit received without violating the h1b status, I work… read more
Matthew Breecher
Matthew Breecher
President
MBA (Graduate Legal Studies)
286 satisfied customers
Can H1B candidate open LLC with US citizen? Can H1B worker
Can H1B candidate open LLC with US citizen? Can H1B worker Claim K1 profit from LLC? http://www.justanswer.com/tax/1b57r-h1b-worker-claim-k1-profit-llc.html http://www.justanswer.com/tax/1us70-h1b-wor… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,629 satisfied customers
Lev, do you know if owners of LLC (file 1065 form) may have
Hi Lev, do you know if owners of LLC (file 1065 form) may have salaries (W_2) from their companies?… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,325 satisfied customers
I have started a business in July 2015. We started as
I have started a business in July 2015. We started as partnership LLC (Manager Member LLC), We have two partners one from ( Name : Tim ) Kansas state and myself ( Vij) from California state.First we s… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,629 satisfied customers
We have an LLC started as partnership with 2 members. Now we
We have an LLC started as partnership with 2 members. Now we want to file returns as Single member LLC. How can we do that? We have registered with couple of states. with Texas, California(Foreign), N… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,325 satisfied customers
I am on an H1b visa and I opened an LLC with a US citizen as
I am on an H1b visa and I opened an LLC with a US citizen as a partner. I am going to sign an MSA with my employer and my LLC to be a consultant for the LLC. Is that OK to do ? My LLC will pay my H1b … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,325 satisfied customers
Situation: I have an LLP (Wyoming) with 2 partners - one is
Situation: I have an LLP (Wyoming) with 2 partners - one is a person (the talent), the other is a single member LLC (my own LLC) and the TMP (Tax Matters Partners). I believe both partners are to be i… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,325 satisfied customers
I am thinking of starting either a LLC or a Sole Proprietor.
I am thinking of starting either a LLC or a Sole Proprietor. If I ran a Schedule C, and my husband made 100 dollars so far in 2014. He spent 100 to get the company up and running in tax advice and leg… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,325 satisfied customers
My friend (USA permanent resident) is considering opening a
My friend (USA permanent resident) is considering opening a LLC. He will initially open LLC alone. After 1 or 2 year, he may have 1 partner in the business. Does he need to register LLC with specific … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,325 satisfied customers
Option A a person on h1 wants to open 100% subsidiary of his
Option A a person on h1 wants to open 100% subsidiary of his foreign company in which he owns all stock and employ a green card/citizen as CEO.Also will be employing his wife to act as director (throu… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I have a two member LLC where the members want to change the
I have a two member LLC where the members want to change the allocations to either 99 percent to member A and 1 percent to member B, or 100 percent to member A and none to member B. The reason for doi… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,325 satisfied customers
I have few tax related questions and would be great if you
I have few tax related questions and would be great if you could answer them for me. Let me present to you the scenario. Let's say, I am currently on H1B visa. I form new LLC with my friend who is US … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,325 satisfied customers
Hi Lev, Setting up a new company. Company A will be a multi-member
Hi Lev, Setting up a new company. Company A will be a multi-member LLC. Company B will be a Single Member LLC. I own 100% of Company B and Company B owns, 50% of Company A. Company B is a member manag… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,325 satisfied customers
Scenario: Lets assume, I am on H1B visa. I start a new business
Scenario: Let's assume, I am on H1B visa. I start a new business with my partner who is a US citizen. We share equal ownership in the business. Questions: 1. Can I open bank account for this business?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I am not clear on how to file. both companies are llc with
I am not clear on how to file. both companies are llc with different ownership. One Llc is the parent of the other. do both companies file a 1065? How do I show that one owns the other? which return d… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,325 satisfied customers
I am on an H1-B visa sponsored by my current employer. A friend
I am on an H1-B visa sponsored by my current employer. A friend and I are starting a company: a managed member LLC where I will be a 50% owner (member). I will be a passive investor and not involved i… read more
Anne
Anne
Master Tax Preparer
2,361 satisfied customers
Hello again. I am thinking of opening a LLC in Michigan. I
Hello again. I am thinking of opening a LLC in Michigan. I am on H1 visa, my wife is on H4. I sent the forms to apply for my EAD for me and my wife. I am on a J1 waiver, so my i-140 will stay pending … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,325 satisfied customers
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