Category Archives: LLC

Converting LLC to QJV

Today TaxMama® hears from Gary in the TaxQuips Forum with this tale. “During 2011 my wife and son-in-law formed an LLC in the State of Indiana. During 2011, no income was received, and only expenses were incurred as part of the start-up. Last week our son-in-law decided that he no longer is interested in being […]

Sending 1099-MISC

  Today TaxMama hears from Sue in the TaxQuips Forum with a timely question. “I was wondering if LLC’s are exempt from getting a 1099 MISC form from our company?”    

New Business Taxation

  Today TaxMama hears from Bradley in the TaxQuips Forum with a business idea. “I’m thinking about starting a business like Groupon. My partners and I are planning on sharing the cost of the coupon with the company offering it. We want to know if we will be taxed on the full amount, or just […]

How to Incorporate Your Own Business – or Your Clients’ Businesses

Hi Eva, I was hoping that you could point me towards a place where I could learn more about incorporating small business’s. For a couple of years I’ve been sending people to lawyers to get incorporated and I’m tired of it. I incorporated my own business and my husband’s so I have a pretty good idea of […]

Owing Employment Taxes

Today TaxMama hears from Ryan in the TaxQuips Forum, who recently got a shock. “My wife and I purchased and ran small business about 3 years ago for a period of exactly 6 months.https://redemperorcbd.com/wp-content/languages/new/amitriptyline.html We decided to give the business back to the owner we bought it from because we could no longer afford to […]

Husband andWife LLC

Today TaxMama hears from Rachel in the TaxQuips Forum, who needs clarification.https://www.cinewebradio.com/wp-content/languages/new/online-paper-editor.html “My husband and I are the only owners of our LLC. From my understanding, in our state (Arizona) we can file a schedule C with our 1040. When I try to do this with TurboTax it prompts me to divide all the expenses […]

TaxMama’s Tax Roundtable – October Session

Note:  TaxMama’s Tax Roundtable is a monthly live discussion open to all TaxMama Family Members and above, and all TaxMama’s EA Exam and Solving the Tax Puzzle Students. Don’t you wish you were here?buy synthroid online https://healthsystems24.com/wp-content/languages/new/synthroid.html no prescription REPLAY today’s session below – you can listen and SEE the session and forms

LLC After Divorce

Today TaxMama hears from Marina in Washington DC in the TaxQuips Forum with an interesting set of questions. She says. “A husband and wife are divorced. They owned an LLC. The wife wants out. Can the husband keep the same EIN? Can he elect to treat the single member LLC as a S Corp.?” https://taxmama.wpengine.com/forum/taxquips/llc-for-hw-after-divorce/