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Does an LLC partnership that is converting to a single
Does an LLC partnership that is converting to a single member LLC, or disregarded entity, need to complete and file an 8832 Change of entity form with the IRS? What other steps are required for change… read more
Lev
Lev
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Bachelor's Degree Equivalent
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Continuing on the same questions, the IRS decision on form
Continuing on the same questions, the IRS decision on form 8832 filed for treating the single member LLC as disregarded entity is still pending and after adding the additional manager, we had to remov… read more
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We had filed for LLC as single member while filing. After
Second opinion] Hello we had filed for LLC as single member while filing. After that we have filed for FORM 8832 with IRS to elect for treating our entity as a LLC as C corp. This assessment is pendin… read more
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Partnership LLC using accrual basis to single member. As as
Partnership LLC using accrual basis to single member. As long as the remaining disregarded entity doesn't double up on anything reported in a prior year, is there any regs stating the resulting disreg… read more
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I filed a company as a LLC with the state of New Jersey. I
I filed a company as a LLC with the state of New Jersey. I am now on the IRS website, to apply for a EIN number. When I went to get one, I received this message (see attached).Please let me know what … read more
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Can 3 single member llc's file on a single form 1120-s? What
can 3 single member llc's file on a single form 1120-s? … read more
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We have changed our business Plan: As stated before: 1) Our
Barbara, We have changed our business Plan: As stated before: 1) Our foreign corporation (Cayman) has elected to be treated as a partner ship on (USA) IRS Form 8832, Part 1 Election information, #6 Ty… read more
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A taxpayer, Form 1040 Schedule C, is on the cash basis. The
A taxpayer, Form 1040 Schedule C, is on the cash basis. The average revenue for the last 5 years is $5,100,000. There is no inventory. The NAICS is 423600Can he remain on the cash basis?… read more
Lane
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Tax Experts Client just created single member LLC and want
Tax Experts Client just created single member LLC and want to be taxed as s-corporation. Do we need to file 8823 in addition to 2553 Form or 2553 is enough? Can we do it with 2016 tax return using "ch… read more
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After one year my partner is leaving the Llc that we have and
After one year my partner is leaving the Llc that we have and I will continue. We are trading or dividing assets equally. What IRS Form report do we make and are all of the expenses and income through… read more
Lev
Lev
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Good Morning Lev. Question on Entity Change. A sole ownership
Good Morning Lev. Question on Entity Change. A sole ownership LLC would like change entity and become a S-Corp. The LLC has an active EIN and my understanding form 2553 can be used to make that entity… read more
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Lev
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Again and again the question: USA (Nevada) LLC, two members:
Again and again the question: USA (Nevada) LLC, two members: Hong Kong and Panama, tax model - partnership, income from internet services provided worldwide, but not for USA residents, bank account in… read more
Lev
Lev
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We recently formed a single-member LLC (Texas) that is a disregarded
We recently formed a single-member LLC (Texas) that is a disregarded entity-sole proprietorship. Former sole proprietorship had its own EIN for payroll purposes. I am trying to find out if we can use … read more
Tax.appeal.168
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I file in NJ. At the start of 2012, my partner and I are part
I file in NJ. At the start of 2012, my partner and I are part of a Multi-partner LLC, For tax year 2012, we will distribute K-1's and file 1065 (fed and state). By end of 2012, i bought out my partner… read more
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Hi, I am preparing a LLC that was just incorporated in February,
Hi, I am preparing a LLC that was just incorporated in February, should I indicate a short year by listing fiscal year beginning as the incorporation date and treat 12/31/2012 as fiscal year ending? T… read more
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Tax Question: I own a business that collects money monthly
Tax Question: I own a business that collects money monthly for its services. We begin billing on the 15th of the month for the next month's services. So basically we have collected all of our January … read more
Lane
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About one month ago I formed a single owner LLC which will
About one month ago I formed a single owner LLC which will default to a disregarded entity. I have decided that I would like to make this a Subchapter S corporation. Form 8832 is used to request being… read more
winktax
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I have opened a new LLC in 2010 and applied for EIN in October
I have opened a new LLC in 2010 and applied for EIN in October 2010. As at the moment I was the only member of the newly opened company I was assigned a status of "Single Owner electing to be disregar… read more
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