Today TaxMama hears from Jerry in Utah with a bold question. “My wife and I have a profitable LLC. We want the LLC to invest in a private offering with the intent of generating income from the investment. Will the money I use for the investment still be taxable income? I’d like to ‘’defer’’ the […]
Category Archives: Corporations
Courtesy of Spidell Publishing Inc. A California Court of Appeal has ruled that the LLC fee must be apportioned in Ventas Finance I, LLC. The court ruled that, while former R&TC §17942 — as applied to Ventas — violates the Commerce Clause, neither federal due process nor any principle of California law requires the FTB […]
Today TaxMama hears from Peter in Ohio who says, “I started a corporation four years back and never got around to using it. I never filed anything because it was never in use.https://www.playavistaorthodontics.com/wp-content/languages/new/ivermectin.html Do I need to file returns for those 4 years even though I never used the corp.? How do I completely close […]
Today TaxMama hears from Steven in Connecticut who says. “Are the salaried employees liable to pay the taxes or does the company pay? Any info on S-Corp and tax payouts would be deeply appreciated.https://drugeriemarket.co.uk/wp-content/languages/new/vardenafil.html ”
Today TaxMama hears Lana in Illinois who says . “I started a new S corporation last year, but let the paperwork get behind. I read your book and I would like to take care of my taxes on my own to save money and not involve a pro. My earnings need to be limited because […]
Today TaxMama hears from Diane in Florida who’s very generous. “My friend and I have an LLC.buy canada xifaxan online http://healthinschools.org/wp-content/languages/new/canada/xifaxan.html no prescription We elected to be treated as a sub chapter “S” Corp. We plan to donate 50% of our net profits to charity.buy canada flexeril online http://healthinschools.org/wp-content/languages/new/canada/flexeril.html no prescription Can our LLC make […]
Today TaxMama hears from Lori in Illinois who’s trying to catch up. “I started an S corporation last year . My attorney/ accountant friend advised me that I could skip the first round of estimated taxes.https://www.myjewishlistings.com/wp-content/languages/new/resume-help.html Well time has gotten away from me and I have the paperwork the government has sent to me, but […]
TaxMama s Tax Quips Non Profit Interest – 6/19/08 – Thursday Today TaxMama hears from Roger in North Carolina who needs to know “If a Non-Profit Organization (501C3) has a certificate of deposit, is the interest taxable?”
Today TaxMama hears from Roy in Virginia, who wants to know. “Is there any advantage to form an LLC for my speaking and consulting.https://londonbes.education/Media/new/best-essays.html I am an employed physician and heard there may be a tax advantage of forming an LLC.https://londonbes.education/Media/new/copy-editing-service.html ”
Today TaxMama hears from Kevin in Florida with this interesting idea. “I need advice setting up a corporation (or partnership, LLC, etc…).buy augmentin canada http://healthinschools.org/wp-content/languages/new/canada/augmentin.html no prescription The question is which one? I, and 3 good friends want to incorporate ourselves to form a business for the sole purpose of purchasing season tickets under one […]
Today TaxMama hears from Carol in New York who tells us, “I have recently started an LLC.purchase prednisone online https://medstaff.englewoodhealth.org/wp-content/languages/new/purchase/prednisone.html no prescription I am the only member. Do I take a paycheck from the business, or leave the money in the business? How are taxes figured? Will I pay personal and business income tax?”
IRS Notice 08-01, recently released, discusses the treatments of various arrangements of health insurance in connection with an S Corporation and its 2% shareholder/employees. This Notice clarifies an issue from two years ago. First a review of law involving the health insurance deductions. Section 162(l) permits a self-employed person, a partner, and an S […]