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S Corp. 2 shareholders. One shareholder buys another one.
S Corp. 2 shareholders. One shareholder buys another one. Buy sell agreement be done through treasury stock.? How buyer can amortize goodwill ? or if it is done outside S corp; when buyer sell assets … read more
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I had some questions: 1. SCorp Question- Once I purchase
I had some questions :1. SCorp Question- Once I purchase another shareholder's shares, what would be the most appropriate to remove the basis from the previous shareholder and add my new basis? Also, … read more
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I have an s-corp who repurchased stock from 2 of its
I have an s-corp who repurchased stock from 2 of its investors. how do i report the tax gain on the 1120S tax form and on each investors k-1? … read more
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I am an S Corp Owner. I split with my partner in 2017 but
I am an S Corp Owner. I split with my partner in 2017 but did not make the payment for the shares until 2018. My attorney set it up that the Company will buy back the shares. I am showing the repurcha… read more
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Launching a Starting and trying the to figure out the
Launching a Starting and trying the to figure out the structure ... we have 2 high networth investors who have agreed to do the seed round. It is a US based start-up the principals leave in NYC the fo… read more
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I have an s-corp shareholder loan repayment question. I am a
I have an s-corp shareholder loan repayment question … read more
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One more topic! Me and my friends made an investment in one
Hi Barbara: One more topic! Me and my friends made an investment in one of the S Corps. The CEO cum promoter submitted a FS showing profit and issued K-1 ( though profits not distributed) . Me and my … read more
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I have a new client, an S Corporation, one shareholder. This
I have a new client, an S Corporation, one shareholder. This shareholder bought out the former 2 shareholders. As part of the buyout agreement he agreed to pay them a percentage of future profits for … read more
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My company's capital account (S Corp) $750,000. It is in New
It is in New York State. We purchased 24% of our stock from a stockholder at 800,000 as treasury stock. On tax return, the computer tax program does not accept the negative balance of capital amount. How can I solve this problem? The value of $800,000 was calculated as the market value at time of transfer of gift to that stockholder. … read more
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I'm. We talked a few days ago about additional paid-in
Hello, Mark! I'm Jane. We talked a few days ago about additional paid-in capital on form 1120S - Schedule L. It turned out that another foreign company (the investor) made a wire transfer to the S-cor… read more
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Tax Attorney or CPA only: When a 50% member of an LLC filing
Tax Attorney or CPA only: When a 50% member of an LLC filing taxes as a Sub-S withdraws from the LLC, does the other 50% owner become responsible for 100% of the taxes that flow down from the K-1(s) f… read more
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S- Corp has 2 shareholders. It is being dissolved for the
S- Corp has 2 shareholders. It is being dissolved for the 2016 tax year. One shareholder took a distribution in excess of his basis making it go negative. The other couldnt tak e the same amount so hi… read more
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Schedule K-1 Items Affecting Shareholder Basis line 16: Code
For Jonathan. Schedule K-1 Items Affecting Shareholder Basis line 16: Code D Property Distribution not report on form 1099-DIV (including cash) is this amount of Shareholder received as a Distribution… read more
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What is the federal tax effect(s) of having a S Corp create an LLC (disregarded entity) an
What is the federal tax effect(s) of having a S Corp create an LLC (disregarded entity) and conducting all business from LLC (100% owned by the original S Corp). The reason for the LLC is to later tak… read more
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when figuring stock basis for scorp shareholders -is it-- income
when figuring stock basis for scorp shareholders -is it-- income profit/loss + distributions(cash withdrawn)= stock basis? Then each year the ending stock basis is added to that year's income profit/l… read more
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What forms need to be filed in order to record any gain or
What forms need to be filed in order to record any gain or loss in the disposition of asset when an S corp is dissolved?… read more
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I had written before about a buyout for an S corp. Here is ...
I had written before about a buyout for an S corp. Here is the story. There were 3 partners, each had 100 share of stock. One shareholder had a stroke and can no longer be involved with the company. T… read more
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IN 2002, I SOLD MY SHARES OF STOCK THAT I WAS AN OWNER OF ...
IN 2002, I SOLD MY SHARES OF STOCK THAT I WAS AN OWNER OF BACK TO THE BUSINESS FOR A NEGOTIATED PRICE OF $123,168. IN ADDITION THE COMPANY OWED ME A NOTE PAYABLE IN THE AMOUNT OF $199,832. BOTH AMOUNT… read more
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Lev
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