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Is there any tax consequence to transfer RE from one LLC to
Hi, is there any tax consequence to transfer RE from one LLC to another LLC. Both LLC have the same members with the same percentage ownership in each LLC … read more
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We are wanting to transfer a business property currently
we are wanting to transfer a business property currently owned by 4 family members ( 2 not involved in business)to an LLC owned by the 2 that are as well as 2 other members of the business. depreciati… read more
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The partner in my 2 member LLC retired effective 12/31/2016.
The partner in my 2 member LLC retired effective 12/31/2016. There was a buyout using LLC funds, the ownership was originally split 60/40. We both have negative amounts in our capital accounts due to … read more
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I owned an equity interest in an LLC that I sold back to the
I owned an equity interest in an LLC that I sold back to the LLC in 2015 for cash. How should the sale be reported on the K-1 that has been issued to me? The reason why I am concerned is because the K… read more
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I have a question about a member joining our LLC, This is an
Hello, I have a question about a member joining our LLC … read more
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Lev, I have a question relating to taxes, IP and capital
Hi Lev, I have a question relating to taxes, IP and capital gains I was hoping you could answer: A friend and I created a software startup around 1.5 years ago. We produced a software product/source c… read more
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If a Single-member PLLC changed to a Multi-member PLLC by
If a Single-member PLLC changed to a Multi-member PLLC by having new partners (partner B & C) contributing money during the year. What are the consequences? The PLLC is in the business of Dental pract… read more
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Lev. We are members in a small LLC. We have 3 members and
Lev. We are members in a small LLC. We have 3 members and we are bringing in a 4th. We want to give him 25% of the profit allocations going forward in exchange expertise, and he will also invest $100,… read more
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I received stock in an S corp for work time put in over 15
I received stock in an S corp for work time put in over 15 years and paid nothing for it. I am dividing the income by 4 years and putting the rest to a loan to the S corp (removing 1/4 each year as in… read more
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How to change S-Corporations Ownership Percentage I have
How to change S-Corporation's Ownership Percentage I have an LLC taxes as an S-corporation. When filing taxes using 1120S and when distributing K1 Worksheets, I must indicate each owner's Ownership %.… read more
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I have a client who has an LLC with 2 members...the LLC has
I have a client who has an LLC with 2 members...the LLC has no equity and no assets....another party was to come in a basically purchase the LLC entity for $100....what type of resolution or member ag… read more
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NYC Real Estate Property Law Questions: Elderly senior
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i am transfering assets from a c corp to an llc (same basis
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I own a business with my husband. It is an LLC Partnership
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My husband and I own an existing LLC, and started a new one.
My husband and I own an existing LLC, and started a new one. We are both the only members of the LLC's. We bought assets (equipment) under the old LLC that we want to belong to the new LLC. Does the p… read more
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I am wondering about the IRS tax treatment for withdrawals
I am wondering about the IRS tax treatment for withdrawals of equity from an llc versus money withdrawn as profits. For example, let's say I invest $100,000 into an LLC. There are two members, I am th… read more
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Im a full time Manager of an LLC. I invested lots of cash
I'm a full time Manager of an LLC. I invested lots of cash early on. CPA said I should be paid via "Guaranteed Payments" (GP) not payroll which I have done. The LLC then took in $ from outside investo… read more
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Have a 50/50 business partnership. In March of 2005, ...
Have a 50/50 business partnership. In March of 2005, one partner bought the business whole from the other partner for say $2000. How is this transaction entered into the books. And how is it handled w… read more
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