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I have a question about the new Pass-through tax law. I am a
I have a question about the new Pass-through tax law. I am a partner in an LLC. I am not paid via w-2 but thru guaranteed payments and receive a K-1 each year. I have read in the new law that guarante… read more
Lev
Lev
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An S-Corp sole shareholder loaned the Corp monies. Corp is
An S-Corp sole shareholder loaned the Corp monies. Corp is paying her back with interest. I deducted the interest expense on the 1120S BUT can I show the interest paid to her on the K-1 line 4 or do I… read more
Lev
Lev
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We have FLorida LLC taxed as partnership. Because we are
We have FLorida LLC taxed as partnership. Because we are retirement age, were concerned about future SS benefits, so on the advise of the accountant started filing W-2 in addition to 1099. It seems th… read more
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A question to a Tax professional, If I have a S Corp,
A question to a Tax professional,If I have a S Corp, Contractor company, I'm the only owner and the officer, I need to use 1120s and after that... what's is the correct form for my personal taxes, and… read more
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Once the original single "income beneficiary" of a QSST
Once the original single "income beneficiary" of a QSST Trust dies, and the secondary principal beneficiaries take over, how do you report that on the QSST? … read more
PDtax
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I have a questions, my attorney created a trust I have one
I have a questions, my attorney created a trust I have one LLC of two members and one S corp . On my tax return from the trust the LLC has just became an single member LLC and the owner is the trust. … read more
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I am currently a 50% partner of a Texas LLC which is in it's
Hi,I am currently a 50% partner of a Texas LLC which is in it's 9th year of successful operation.This past year, I have been absent from daily operations and management of the business due to other bu… read more
Lane
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As an entertainment LLC in Georgia what corporation status
As an entertainment LLC in Georgia what corporation status should I choose in order to file taxes seperately from my personal taxes and receive a seperate refund?… read more
Tax.appeal.168
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Assume the members of ABC, LLC are either S Corps or an LLC
Assume the members of ABC, LLC are either S Corps or an LLC which are each owned 100% separately by three guys running ABC, LLC. Can the three guys draw salaries as employees of ABC, LLC. Can the memb… read more
Lev
Lev
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Robin -- I have a new, unrelated question: I have an
Hi Robin -- I have a new, unrelated question: I have an AZ LLC that is a Sched C filer as a disregarded entity. This has been operating continuously for several years. I have not wanted to undertake a… read more
Lane
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k-1 how is line 14 calculated Partnership LLC, my share
k-1 how is line 14 calculated Partnership LLC, my share of profit is 25,000 and my guaranteed medical insurance payment is 20,000. Due to partnership formula I get all profit this year. On K-1 Line 1 … read more
taxmanrog
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Hello - I have a sub S corp that owns 4 other Sub S corp (Q-Subs)
Hello - I have a sub S corp that owns 4 other Sub S corp (Q-Subs) - anyone on this list work with Q-subs? After we filed the 1120S the taxpayer CFO then tells me that I had the wrong information, the … read more
Lane
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I am working on a 1065 partnership. The partners agreed to
I am working on a 1065 partnership. The partners agreed to have the business pay the tax liability impact on their final personal returns. So, if they have K-1s showing earnings of $25,000 which adds … read more
Lev
Lev
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I have an LLC that was formed in June to be treated as a disregarded
I have an LLC that was formed in June to be treated as a disregarded entity under the sole owner, an S. Corp. The LLC and S Corp (retail stores) each have their own Tax ID for employement taxes. Since… read more
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Are “guaranteed payments” on Form1065 taxable to a partner?
How is “guaranteed payments” on Form 1065 taxable to a partner? I manage an LLC (let's call it A, LLC), which is taxed as a partnership (files 1065). Both partners are other companies (B, LLC and C, L… read more
Lev
Lev
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Bachelor's Degree Equivalent
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On an S Corp an individual receives "compensation of officers".
On an S Corp an individual receives "compensation of officers". Is this put on his personal return and if so what line?… read more
Phillip B, EA
Phillip B, EA
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My husband has a sub s corp. It is my understanding that the
My husband has a sub s corp. It is my understanding that the taxable income is put onto a k-1 and we file our return jointly. We are going through a divorce and I believe he did something out of the o… read more
Lev
Lev
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Bachelor's Degree Equivalent
30,490 satisfied customers
I have paid myself through my llc but have not reported those
I have paid myself through my llc but have not reported those wages to the irs. The llc files as a partnership. How do I show these payments on my personal tax return? Also how do I show payments on t… read more
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