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This question is not the same as my previous question but
This question is not the same as my previous question but involves the same member in the multi member LLC. As mentioned, her 2018 K-1 shows ordinary income on line 1 of 4,218, guaranteed payments on … read more
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A taxpayer owns 100%of his dental practice, which is an S
A taxpayer owns 100%of his dental practice, which is an S Corp. The total wages he paid himself & his 2 employees was 60,000. He files a joint personal return & his total income (W-2 + pass through S … read more
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WOULD SECTION 179 DEDUCTION ON SCHEDULE K -1 REDUCE THE
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Ask the LLC expert: Two partners have a multi-member LLC. We
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Received a restated K-1 from an LLC I'm a member of and the
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My question is that my husband is a passive LLC member, does
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If an llc has multiple members with equal ownership, can each
If an llc has multiple members with equal ownership, can each member be paid an hourly wage for hours worked? This would be above and separate from the annual distribution. Some members will not be ab… read more
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On a k-1 from form 1065, line 1 is ordinary income. Guaranteed
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jgordosea
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I am a member in (2) different (multi member)LLCs. On 1 of
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Are “guaranteed payments” on Form1065 taxable to a partner?
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Lev
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I have a single member LLC which is a general partner of a
I have a single member LLC which is a general partner of a partnership which pays my LLC a guaranteed payment. In prior years, when I, as an individual, was the general partner, I would report the gua… read more
jgordosea
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In a multi-member LLC, if the two managing members are being
In a multi-member LLC, if the two managing members are being paid a "Guaranteed Payment" since they are not allowed to receive a Salary/W2 like regular employees, how does this affect the Net Taxable … read more
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I have a K-1 from an oil and gas partnership. I have lines ...
I have a K-1 from an oil and gas partnership. I have lines 1, 13, 14, and 20 filled out. What schedules are needed and where are these number placed on my individual tax forms? Nothing is noted in Lin… read more
jgordosea
jgordosea
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Ralph was paid a salary of $64,600 during 2008 by Odesto, ...
Ralph was paid a salary of $64,600 during 2008 by Odesto, Co. During the year, he started his own business as a CPA and reported a net business income of $48,000 on his income tax return for 2008. Com… read more
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