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If a person owns a corporation or an LLC both from just one
If a person owns a corporation or an LLC both from just one owner and after a certain time of operation decides to sell it, the new owner can continue using the same name and EIN under the same condit… read more
emc011075
emc011075
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OK. Another odd situation for you sir. Client is a single
OK. Another odd situation for you sir. Client is a single mom with two kids. She incorporated in 2011 in August and never filed a corp tax return and intended to do but never did an S Corp election. S… read more
PDtax
PDtax
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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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Preparing 2015 tax return. There is an LLC that was formed
Hi Barbara,Preparing 2015 tax return. There is an LLC that was formed for a consulting business. The prior tax preparer was filing the profit on a Schedule C. However, the company applied for W Corp e… read more
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A company was formed 2010 and they are just now getting
A company was formed 2010 and they are just now getting their tax returns together for filing. It is a single member LLC. I don't know if there is an exception since they didn't file any returns timel… read more
Mark D
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This question is, JD. It is related to a question I asked a
This question is for Lane, JD. It is related to a question I asked a couple months ago. Some months ago I asked a question about a new forming corporation taking in earlier businesses from a couple an… read more
Lane
Lane
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If i accidentally funded my sep from when i was a sole
if i accidentally funded my sep from when i was a sole proprietor and did not set up a new sep as a scorp is it still deductible. It was funded prior to the extension date of 9/15 and was funded based… read more
Lane
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I own and am the only employee of an s-corp. Is there a way
I own and am the only employee of an s-corp. Is there a way that would benefit my bot***** *****ne more financially if I set something up through the company or am I ok just doing something tax-free o… read more
Lane
Lane
JD, CFP, MBA, CRPS
15,490 satisfied customers
I have a small company and have been making about 135 k per
I have a small company and have been making about 135 k per year profit. I would like to become an S Corporation. I also have a couple other companies run jointly by myself and my wife, which are new.… read more
Lane
Lane
JD, CFP, MBA, CRPS
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I own a single member LLC located in WV. I had a large tax
I own a single member LLC located in WV. I had a large tax liability this year and would like to designate my business as a S-Corporation for tax purposes for 2015. From what I understand, I do not ne… read more
Lev
Lev
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If I incorporated on January 27th, 2015. When is the deadline
If I incorporated on January 27th, 2015. When is the deadline to make a federal S-Corp election for the calendar year 2015?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
, I started a small business in May 2012 and incorporated
Hi, I started a small business in May 2012 and incorporated then as an S-corporation. It seemed like the best tax structure. The problem is that the business has yet to make money and it may be anothe… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I am a software engineer recently converting from a W2 employee.
I am a software engineer recently converting from a W2 employee. I found a contract in which I started working in early August, but I did not official incorporate until August 28th. My client is okay … read more
Lev
Lev
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Bachelor's Degree Equivalent
30,424 satisfied customers
Just changed from a Sole Proprietorship to an LLC (California).
Just changed from a Sole Proprietorship to an LLC (California). I am thinking about taking the s-corp election - by filing IRS Form 8832. I want to know about tax consequences if I do this. Since I ju… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I have a C corp formed in 04/2011 and did not start doing business
I have a C corp formed in 04/2011 and did not start doing business until 9/2011. I want to switch it to a S corp effective this tax year. I have not made any money yet but i have many business expense… read more
CGCPA
CGCPA
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401K question My husband was 100% share-holder of C-Corp.
401K question: My husband was 100% share-holder of C-Corp. As of this year, he terminated the C-Corp. and operating business under the same business name but as sole proprietorship. The C-Corp. have 4… read more
Bill
Bill
Master's Degree
2,074 satisfied customers
(2) independent financial advisors share an office and clerical
(2) independent financial advisors share an office and clerical help. They formed an LLC and funded it 50/50 to cover these expenses only. Each filed their separate Sched(s) C and the negative income … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
Ive been in business as a sole proprietor for about 1.5 years
I've been in business as a sole proprietor for about 1.5 years now. I want to incorporate but am wondering if it is worth it for the tax breaks this year? I've only earned $40000.00 self employment in… read more
Lev
Lev
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Bachelor's Degree Equivalent
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