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If I bought stock for 500,000 and it is now worth 800,000.
If I bought stock for 500,000 and it is now worth 800,000. Can I contribute this stock to an LLC that I am a 50/50 owner? What happens to my capital account would it be at 500,000 or 800,000? What hap… read more
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A well established dentist is selling his practice assets.
A well established dentist is selling his practice assets. He is a P.C. (not an S Corp). His fixed assets are fully depreciated. 400,000 of the 800,000 selling price will be sold by him personally as … read more
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Second opinion] I have a client selling his business - a Single Member LLC filing as an S-Corp. Allocation is Fixed Assets $140,000 Goodwill $560,000 Payment is $300,000 at closing, $250,000 Note Paya… read more
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Second opinion] I have an S-Corp, single shareholder selling
Second opinion] I have an S-Corp, single shareholder selling his business. What are the journal entries if he sells on an asset basis and Buyer & Seller agree to re-evaluate fixed assets at FMV (which… read more
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I recently sold my dry cleaning route customers to a local
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A dental practice which is an S Corp sells its practice
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I have two companies. One is an LLC and one is a C Corp. The
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S Corp transfers assets of $1M value, with zero adjusted
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If an interest in a single member LLC is sold, we can either
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15 yo s corp in Montana, considering sale for $875K need to
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I have a client who has an LLC with 2 members...the LLC has
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I set up a single member LLC and built a 60 kW solar array.
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I have a client selling his S-Corp business for 575,000 all
I have a client selling his S-Corp business for 575,000 all allocated to goodwill. My client has a zero stock basis and 20,000 in loan basis in the corp. Does he get to apply his 20,000 in loan basis … read more
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I bought a business on 09/2004 for $434,000. In Jan. 2020,
I bought a business on 09/2004 for $434,000. In Jan. 2020, I sold all the assests,etc. for $300,000 then I bought into the new company 45% share. Do I pay capital gain?… read more
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Can you structure an S Corporation asset sale so that the seller
Can you structure an S Corporation asset sale so that the seller is both shareholder and after forming a separate LLC, seller is buyer as well? What consequences does this have on tax liability?… read more
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Im selling a business with $350,000 allocated to building
I'm selling a business with $350,000 allocated to building , equipment & land and $200,000 allocated to good will ,no compete, furniture , and leasehold improvements (50,000) per). For income tax and … read more
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Client purchased US corp whose asset is a panama business with
Client purchased US corp whose asset is a panama business with assets of 700000 after depreciation. they paid 1,050,000 for the acquisition. is there a way to step up the assets under sect 338 and if … read more
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