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IRS Tax Question: 2 questions: 1. If a S-Corporation has 2
IRS Tax Question: 2 questions: 1. If a S-Corporation has 2 divisions and one just "spins off" and makes it's own S-Corp, how do you treat this from a book and tax perspective? 2. If an S-Corporation w… read more
Lev
Lev
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My niece owns 50% in an S-corp that has losses just about
Pearl, my niece owns 50% in an S-corp that has losses just about every year and cumulatively significant. These losses were effectively funded by borrowing money. The loan is six figures. Now the othe… read more
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Lev
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non-taxable distributions from S-Corp to 100% shareholder. reducing basis in cost basis of stock, avoiding income tax to s-corp shareholder … read more
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I want to give 1/2 my shares in a chapter s corp to my wife,
I want to give 1/2 my shares in a chapter s corp to my wife , then I want to give 100% of the profits to my wife in a K1 I'm an employee of the company and get a w2 , is that ok?… read more
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I have clients who have incorporated their small businesses
I have clients who have incorporated their small businesses as C-Corps. Most of the time they are the only shareholder in the c-corp. They became C Corp for liability purposes only. What is can be use… read more
Mark Taylor
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My husband and I are 50% (500 shares each) shareholders of
My husband and I are 50% (500 shares each) shareholders of an S corporation. He passed away in August 2015, I am late getting my S corp return filed (due 9/15/16) and I am the only beneficiary of our … read more
Lane
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S corp has only 2 shareholders ( me and my friend: 50%:50%
S corp has only 2 shareholders ( me and my friend: 50%:50% shares for each). I gave up my all shares in June 2015 for some reasons. Should schedule K be issued to me for 2015 or not ? The other shareh… read more
Lev
Lev
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Bachelor's Degree Equivalent
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S corporation has only two shareholders with 300 shares (50%
S corporation has only two shareholders with 300 shares (50% 150 shares: 50% 150 shares). Current stock basis: $5000 per shareholder. Common stock: $200. APIC: $9800.00. These shareholders will sell o… read more
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I am working with an S-Corp that had two shareholders at
I am working with an S-Corp that had two shareholders at inception in 2014. In 2015, one the shareholders bought out the other by privately purchasing the stock at a deep discount. My questions are:1.… read more
Lane
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My issue is sale of shares of S Corp stock to remaining
My issue is sale of shares of S Corp stock to remaining shareholder. … read more
Jonathan Tierney
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Lev; I have a 100% S corp shareholder dissolving their S
Lev; I have a 100% S corp shareholder dissolving their S corp 12.31.14. Because the FMV of most assets was greater than their book value, their is a gain on their "disposition". Does this gain increas… read more
Lev
Lev
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S Corps only asset is a building with zero basis bought 30
S Corp's only asset is a building with zero basis bought 30 years ago. 2 brother each 50% shareholder. Brothers have $0 basis. Brother #1 buys out the shares of Brother # XXXXX for $3million. Brother … read more
Phillip B, EA
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1120S corp formed an IC-DISC corp back in 2009 in order to
1120S corp formed an IC-DISC corp back in 2009 in order to pay commissions on international sales. The purpose was to increase the 1120S's expenses and lower the taxable income to the 100% shareholder… read more
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I have a loan against my s-corp (two shareholders including
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winktax
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I have a client that owned an S corp 100%in 2011 . She took
I have a client that owned an S corp 100%in 2011 . She took $2,000.00 in salary reported on a W-2. She now wishes to have the corporation tranferred to another person. Can she do this and file the S c… read more
R. Klein, EA
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I am helping a small S Corp with their taxes. There were 2
I am helping a small S Corp with their taxes. There were 2 stockholders for most of the year. On December 31, the 49% shareholder purchased the 51% stockholder's interest for $1400.00. He then issued … read more
CGCPA
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An Sub S corp is bringing in a new shareholder. Can they distribute
An Sub S corp is bringing in a new shareholder. Can they distribute the new shareholder's stock purchase as a capital gain if the cash is distributed among the shareholders? Does the new shareholder g… read more
BK-CPA
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S- Corp has seven equal shareholders. The shares on shareholder
S- Corp has seven equal shareholders. The shares on shareholder was purchased equally by the remain six shareholders. The 1/6 shares were eventually equally sold for a large amount more to another sha… read more
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