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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
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The LLC owns residential real estate rental.Is it make sense
The LLC owns residential real estate rental.Is it make sense a management company received carried interest from the LLC?… read more
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I have a couple of questions on how solo 401k contributions
I have a couple of questions on how solo 401k contributions to partner need to be entered on partnership 1065 form … read more
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Lev
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I'm trying to figure out how a partnership "deducts"
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I get a K1 form and a W2. Box 4 on my K1 is the same amount
I get a K1 form and a W2. Box 4 on my K1 is the same amount as my total earnings on my W2. When I enter the mount of K1 box 4 into turbo tax is acts like it is doubling my income and causing to me to … read more
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Lane, I have a question i am a member with a 20% on an llc
Hello Lane,I have a question i am a member with a 20% on an llc that has to members. The other member is in charge of preparing the taxes every year. Normally she gives me my K1 and on the k1 if i rec… read more
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1) I am setting up a 401(k) retirement plan for an employer.
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I own an LLC and I collect a weekly draw of $450. How do I
i own an LLC and I collect a weekly draw of $450. How do I report this income for tax purposes?… read more
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My client has LLC (partnership tax treatment). Based on the
My client has LLC (partnership tax treatment). Based on the operating agreement one of his partners needs to be reimbursed for health insurance. 1. In 2015 partnership did not have any income (only ex… read more
Lev
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Partnership with a 401K plan. Partnership contributes
Partnership with a 401K plan. Partnership contributes $10,600 for each partner, they call it "employer match". Partner, my client, also contributes another $18,000 of his own money, total of $28,600. … read more
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My wife and I own a partnership. We are 50/50 partners. I do
My wife and I own a partnership. We are 50/50 partners. I do 99% of the work in the partnership. Can I change her from a 50% partner to a 10% partner to save on self employment taxes when we file our … read more
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Client was given 20% ownership ownership for work performed
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Question. A client has an LLC and he is a financial Planner,
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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
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I own 25% of a LLC partnership and am the Managing partner,
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I am preparing a 1065 - Among 6 of the members , I need help
I am preparing a 1065 - Among 6 of the members , I need help with 2 of the members -2 couples have their ownership and MR & Mrs as tenants by the entirety. I know that each spouse of both couples will… read more
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i have a client who is a partner in an llc. he is also the
i have a client who is a partner in an llc. he is also the manager of the cattle feed lots (llc). the llc pays him a salary of $40,000 a year. how is the tax figured on this? the k1 amount is added to… read more
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Bachelor's Degree Equivalent
30,490 satisfied customers
We have an LLC, taxed as a partnership, with 3 individual members
We have an LLC, taxed as a partnership, with 3 individual members and one tax exempt org. member. The 3 individual members provide services/expertise to the LLC that result in the income the LLC earns… read more
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