Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
Real estate rental property is owned by the partnership. All
Real estate rental property is owned by the partnership. All leases are NNN. Two partners are actively involved in the management of the property. They are paid by the partnership as independent contr… read more
DK_CPA
DK_CPA
Certified Public Accountant (CPA)
Master of Science in Accounting & Taxationb
1,285 satisfied customers
Client expansion led to somewhat extensive partnership
Client expansion led to somewhat extensive partnership structure. We revoked two company S elections effective 1/1/18 so partnerships could own one another.In the past, we've paid wages to the owners … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
16,390 satisfied customers
I am considering participating in a side business as a
I am considering participating in a side business as a contractor. The company wants to offer me 5% equity that vests over 3 years with no cash payment throughout the duration of the 3 years. I would … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,408 satisfied customers
Two investors couple form limited partnership & LLC to
Two investors couple form limited partnership & LLC to invest in real estate. The LLC will be the general partner of the limited partnership & the investors limited partners. If the partners distribut… read more
PDtax
PDtax
Owner
Master's Degree
4,758 satisfied customers
I have a husband and wife partnership, we file a form 1065.
I have a husband and wife partnership, we file a form 1065. both the partners do not receive a w2 or a 1099. nor do they receive any "guaranteed income"! we do however divide the partnership profit (5… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
4,210 satisfied customers
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
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
4,210 satisfied customers
Lev, do you know if owners of LLC (file 1065 form) may have
Hi Lev, do you know if owners of LLC (file 1065 form) may have salaries (W_2) from their companies?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,719 satisfied customers
question: I am preparing a tax return partner in a real
question: I am preparing a tax return for a partner in a real estate investment. the investment has flow through losses and the partner has a guaranteed payment for services rendered to the partnershi… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,719 satisfied customers
My wife and I have some income property in a llc. Are we required
My wife and I have some income property in a llc. Are we required to pay self employment tax on any or report k1… read more
Tax.appeal.168
Tax.appeal.168
Principal
6,464 satisfied customers
On a k-1 from form 1065, line 1 is ordinary income. Guaranteed
On a k-1 from form 1065, line 1 is ordinary income. Guaranteed payments are on line 4. The way I understand it guaranteed payments are those which are guaranteed regardless of a profit or not. Does th… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
I own 25% of a LLC partnership and am the Managing partner,
I own 25% of a LLC partnership and am the Managing partner, I take a guaranteed payment for running the company (the 3 other partners are passive and non resident). The guaranteed payments are reporte… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
16,390 satisfied customers
I am younger than 59 years old. I used to run a sole proprietor
I am younger than 59 years old. I used to run a sole proprietor business, generated earned income, filed a Schedule C, and maxed out on sole 401(k) contributions, and I also contribute to an HSA accou… read more
PDtax
PDtax
Owner
Master's Degree
4,758 satisfied customers
I am a member of a husband-wife member-managed LLC, 50-50 partnership
I am a member of a husband-wife member-managed LLC, 50-50 partnership which is mainly a publishing and website marketing operation, but I have also used it for consulting. The LLC files as partnership… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,719 satisfied customers
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
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,719 satisfied customers
Are “guaranteed payments” on Form1065 taxable to a partner?
How is “guaranteed payments” on Form 1065 taxable to a partner? I manage an LLC (let's call it A, LLC), which is taxed as a partnership (files 1065). Both partners are other companies (B, LLC and C, L… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,719 satisfied customers
Is it preferable to initially fund a company as a loan or as
Is it preferable to initially fund a company as a loan or as a basis in the company? (to give context, it is a multi-member LLC (4 partners) but only one person (me) is contributing funding while all … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,719 satisfied customers
Hi, Two Business tax questions Partnership How are
Hi, Two Business tax questions: Partnership: How are self employment taxes calculated over dividends of partners in an LLC? If so, do these need to be paid over 100% of the dividends? Is there an limi… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,255 satisfied customers
I have paid myself through my llc but have not reported those
I have paid myself through my llc but have not reported those wages to the irs. The llc files as a partnership. How do I show these payments on my personal tax return? Also how do I show payments on t… read more
JKCPA
JKCPA
Certified Public Accountant (CPA)
Bachelor's Degree
1,796 satisfied customers
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.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,937 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

261 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

17,888 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,659 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

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.

Show MoreShow Less

Ask Your Question

x