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How would doing my taxes be impacted by creating an LLC
Hello, How would doing my taxes be impacted by creating an LLC under my current scorp? Would all income and expenses flow to my scrorp if my scrorp owned the new LLC?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
32,025 satisfied customers
I want to create an s corp. I am a non resident of the usa.
Good morning. I want to create an s corp. I am a non resident of the usa … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
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Im confused. if I should file as an LLC or an Scorp. my
Im confused. if I should file as an LLC or an Scorp. my business is an LLC but I elected to be taxed as an Scorp. … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
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Business setup question. How to setup an LLC. Need to know
yes need to know LLC as Scorp (taxed) is that best? and if I need Working W2 spouse should be setup as partner in LLC… read more
Barbara
Barbara
Enrolled Agent, Paralegal
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I own a small one person S corp, this S corp is a 100% owner
I own a small one person S corp, this S corp is a 100% owner in an LLC (was totally capitalized by some money from Scorp)1) I was told that the LLC income and expenses get rolled up to the Scorp and t… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
32,025 satisfied customers
Pearl! If an LLC is accumulatng money to make an investment
Hi, Pearl! If an LLC is accumulatng money to make an investment in something, and at the end of the year it has received $10,000,000 in income but zero expenses (or close to zero), how is the $10,000,… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
4,341 satisfied customers
I have a product that I'll be marketing to schools and
I have a product that I'll be marketing to schools and churches for them to sell as a fundraiser option to raise money for their needs. I am creating my LLC and my question is: … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
4,341 satisfied customers
Can a scorp be a member of llc classified as scorp for tax
Hello, can a scorp be a member of llc classified as scorp for tax purposes? … read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
19,981 satisfied customers
If im a LLC filing my taxes as a S corporation and my net is
If im a LLC filing my taxes as a S corporation and my net is a 100,000 can i leave that money in the S corp ori do i have to take a K1 for the net im the only member in the LLC … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
4,341 satisfied customers
I'm a partner in an LLC and have a k-1. DO I need to file
I'm a partner in an LLC and have a k-1. DO I need to file both fed tax and self employment or just self employment? It seems like I'm being taxed twice and believe it or not I've received two differen… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
4,341 satisfied customers
I registered an LLC in the state of Colorado on April 29,
I registered an LLC in the state of Colorado on April 29, 2017. Its a brand new LLC. I have the fedral tax ID number also for my LLC. It's a single member LLC with no shareholders now. I need clarific… read more
Matthew Breecher
Matthew Breecher
President
MBA (Graduate Legal Studies)
283 satisfied customers
I applied for an ein but as a disregarded entity and am
I applied for an ein but as a disregarded entity and am considering filing for Scorp. Would I then have to file for a new EIN? … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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I have an SCORP and my building is an LLC. The SCORP has
I have an SCORP and my building is an LLC. The SCORP has paid for landscaping rock for the building. I need to know if I should record the transaction as a distribution from the SCORP and then pick it… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
19,981 satisfied customers
I have an llc and I want to be able to separate my business
I have an llc and I want to be able to separate my business tax returns from personal returns I also sent my self and husband a 1099 from our business.I heard I can claim. S Corp instead of llc. What … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
4,341 satisfied customers
I have an SCorp. The building we own is also incorporated as
I have an SCorp. The building we own is also incorporated as an LLC. My question is that I have taken money out of the SCorp to fund the LLC to pay for expenses. Should I record these transactions as … read more
Mark D
Mark D
Enrolled Agent
Master's Degree
1,338 satisfied customers
Business Entity Choice for Attorney - A single attorney has
Business Entity Choice for Attorney -Hello,A single attorney has his own practice, no partners but he does have employees that work for him. Can his practice be taxed as a S Corporation and him take a… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
4,341 satisfied customers
I have a tax question. I have an LLC that is a sub "S." I
I have a tax question. I have an LLC that is a sub "S." I want to form another LLC and want the most simple way to address taxes and ownership of this LLC. It will be owned and managed by the same two… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
4,341 satisfied customers
Thanks, Ive been working as an independent consultant to a
Ive been working as an independent consultant to a corporation for most of this calendar year. Should I form an LLC or S-Corp to benefit from tax savings? … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
4,341 satisfied customers
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Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

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