to be used for any question related to Company incorporated with Limited Liability. Abbreviated as LLC. LLC is a US specific term per se. Other countries have similar concepts but are called differently. Even if the question are for different countries, the tag "Limited-liability-company" is still ...

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LLC: Where should the funds for initial startup costs come from?

I recently created an LLC (with myself as the only member) and I have some initial costs (website, P.O. Box, etc.) that I need to finance. Can I pay for those out of my personal bank account or do I ...
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1answer
26 views

Does an online business selling across the USA would need to file for foreign qualification in each state?

I have been looking at the rules for an all online transactional company. If I make sales in all US states, do I need to file for foreign qualification if I have a Nevada LLC?
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1answer
72 views

I'm contracting from London for a company based in Paris, and they require Proof of Residence for my Ltd Company. Where can I get this?

I've already gone through the process to obtain a "Proof of Residence" letter on the HMRC website. Once the application was completed, the email I received stated about applications in general that ...
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1answer
52 views

Setting up a LLC for two partners in different states, what should we look into?

My friend and I are looking into starting our own design agency. The LLC would be based out of Texas, but the other employee would be based out of North Carolina. We would both be full time employees ...
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2answers
73 views

Can stock market gains be better protected under an LLC arrangement?

As I understand it, if one has a business, profits can be reinvested to show zero net profits, so as to avoid tax. (I could be wrong about this, feel free to correct me.) I'm wondering if one can do ...
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0answers
34 views

What can I claim when there is a loss in the business?

I purchased 49% shares of a LLC business(Paid $150,000) and the business is claiming a loss of $ 130,000 for the 2014 year. I worked full time at the business but did not take a paycheck at all. Can ...
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0answers
25 views

Paying an LLC Partner a Salary in New Jersey

I've been doing a lot of reading in regards to this, but finance is not really my thing. If I have an LLC Partnership in the State of New Jersey, and want to make salary payroll to my fellow owner ...
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1answer
32 views

Can my non-US-resident LLC partner file a 1040NR-EZ?

One of my partners is a non-US-resident. Our LLC is based in Delaware, and we are subject to pass-through taxation (where we declare our share of profits/losses as income). In principle, this ...
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1answer
119 views

Is there a way to open a U.S. bank account for my LLC remotely?

I'm operating a company remotely — I'm not in the U.S. Is there a way to open a bank account without going to the U.S.? I've called a few banks and most of them require myself to go the a ...
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3answers
104 views

Received Check as Business Before Having Funds to Start the LLC

I've received a payment and will continue to be receiving payments contingent on me getting paid as an LLC. The problem with that is, is that starting an LLC is expensive and I don't have the funding ...
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1answer
62 views

Tax Implications - First 2-Family Rental Property

My brother and I have opened up an LLC and have put an offer on our first 2-family for a rental. We have some questions on loans/tax implications for the business that we're hoping to get some ...
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2answers
93 views

Equity As Part of Compensation

If a private (one owner) LLC that was recently acquired by a private investment company offers "a grant of employee incentive equity in the company in the form of Class M units representing x.xx% of ...
2
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1answer
182 views

Can my U.K. limited company lend money to a director or another person?

Can a limited company lend money to the director or another person? What are the limits, the rules, any minimum rate, the things to know...?
2
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1answer
66 views

Can I deduct remaining LLC losses against W2 wages once the LLC is dissolved?

I have been a minority owner of an Ohio LLC. The franchise closed in 2009 but the LLC just dissolved December of 2014. I haven't been able to deduct losses from my W2 wages as I haven't been actively ...
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1answer
105 views

Do I need to file taxes for multi-member LLC with no activity (State of NJ)

I know there are several threads to this end on here - I have read them all and am still in need of some assistance. I am an owner of a mulit-member LLC that was established this past year in the ...
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3answers
199 views

Does an LLC Protect me From Owing a Mortgage?

Let's say myself and my two peers, Adam and Ryan, start a limited liability company together, called Adryda LLC. We each put in $10,000 and take 33% equity. Later, Adryda buys a property with the ...
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0answers
80 views

Can I expense the rent for a three month contract abroad

I am a consultant living in UK using my own limited company. If I accept a contract to work in another European country, can I expense the rent I will have there?
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2answers
166 views

I founded my LLC in October 2014 but my business still isn't active. Do I need to file taxes?

Started the business in late October but did no work in 2014. My business is licensed in Texas. Do I need to file taxes for my business?
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2answers
76 views

Calculation, timing, and taxes related to profit distribution of an S-corp?

My life partner and I opened an S corporation at the start of 2015. My life partner will be employed by the S-corp and we've established a reasonable salary for him. I won't be employed by the S-corp, ...
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2answers
51 views

Tax liability in US for LLC's owned by an Indian Citzen

I am located in Pune, India and looking forward to form an LLC (Service Industry) in FL only as a face for my Indian Company in the US market. My clients would be making the payments in my Indian Bank ...
0
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3answers
148 views

Multi member member-driven LLC Bank Account without the personal presence of one the memebers

We have an LLC which has two members (we both are foreigners), this LLC is member-driven. We need to open a business bank account, but the problem is, that one of the members can't come to USA, is ...
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2answers
103 views

Form as LLC or S Corp to reduce tax liability

Drafting a business plan, trying to determine whether an LLC or S Corp would produce a lower tax liability (in the scenario below I am "Partner A"). Three Partners: Partner A, Partner B, Partner C ...
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0answers
108 views

Does FL based consulting LLC have to pay NY state income tax?

An LLC is registered and based in Florida. It conducts consultations in FL for New York-based companies, wherein an employee of the NY company travels to FL for the consultation. At no point does an ...
2
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2answers
129 views

How to pick a state to form an LLC in?

I'm looking to form a company with a friend of mine. I'm living in Colorado and he's living in Oklahoma. We want to start up a website that offers a service and we want it formed under an LLC. For ...
2
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1answer
119 views

Investing in your own LLC - equity or debt

I am putting initial investments in my own LLC, and as I started accounting I want to know how to treat it better - make it a loan to LLC or make it equity investment? It might take about half a year ...
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0answers
51 views

Foreign earned income exclusion for DE single-person LLC income

I am a US citizen living abroad. I pass both the bona-fide residency test and the presence test. I pay income taxes in the country where I reside. I am the sole member of a Delaware LLC, whose ...
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1answer
731 views

Why can't I file my California LLC Statement of Information online

I am trying to file my required statement of Information using the form at https://businessfilings.sos.ca.gov. The site fails to find my Limited Liability Company by name. I have gone through all my ...
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1answer
71 views

Gift Tax and LLC with foreign partners

I will tell you what we would like to accomplish, what we know though research and we need advise from you what best way to carry the plan out. I. What we would like to do My Vietnamese wife has ...
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2answers
112 views

Freelancing and getting taxes taken out up front instead of end of year?

I'm a programmer and I've been working at my current freelance gig for a few months now. They pay me hourly and ranges from 20-40 hours a week. The checks I've been receiving have taxes deducted ...
2
votes
1answer
145 views

How to register LLC in the US from India?

I am living in India. I have an online business with many clients in the US, and I want to register it as an LLC in the US. Which state is the best to register in? What is the process for me to ...
6
votes
1answer
170 views

Solo-401k interaction with employer sponsored 401k. Limits of contribution from Schedule C income

I'm quitting a job at the end of this year. I want to start a solo-401k for all my schedule C income and I have a couple of concerns: If my employer were to, for some reason, pay me in 2015 some ...
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1answer
84 views

Capital gains and flow through tax treatment

If I am in a limited liability partnership or in a limited liability company (which receives flow through tax treatment), how are the assets and income of the LLC taxed? I think the way it works is: ...
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1answer
62 views

How to know more about my tax situation in the States

I've been part of an LLC that actually never started to operate. My management opened it, and then closed it after 2 years. No income, no business bank account, no EIN. Basically it was just ...
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1answer
135 views

What steps are required to transfer real estate into a LLC?

I'm a fairly new landlord, and learning as I go. Apparently one of the early mistakes I made when purchasing my rental properties was buying them under my name instead of forming a Limited Liability ...
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2answers
159 views

Selling units/shares in my startup to my Roth IRA

Since I can't transfer/gift shares directly to my Roth IRA, what's the most tax-efficient way for my Roth IRA to take ownership of as many units of my startup as possible? Is this even possible? If ...
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1answer
65 views

Rental property, pluses to move to an LLC

My wife and I bought a house and turned our condo into a rental property. We were going to go LLC, but money has been tight, so for 2014 we are doing general partnership. We can't get the mortgage ...
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2answers
49 views

LLC and tax filing with spouse

In florida my husband and I are the only managing members on an LLC. Are we able to file our taxes with one of us claiming 100% of profits and losses and the other as 0% if we are filing jointly.
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1answer
96 views

End of year crowdfunding and taxes

I am about to run a crowdfunding campaign, which will end mid-november. That gives me 1.5 months to spend the funds on project expenses--not really feasible given that it's all destined for ongoing ...
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1answer
113 views

Elect corporation S status for my LLC

I'm the sole proprietor of an LLC in the state of Michigan. I'm not looking to do anything fraudulent or alike. I simply want to know if I elect to have my LLC to be treated as an S type corporation, ...
2
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2answers
171 views

LLC v. W-2 Taxes when filing in Florida

I'm considering working as a contractor in Florida. Currently I'm a W-2 contractor, but considering a Corp-to-Corp contract since it's a higher rate. Just now I read Florida's Tax Page - ...
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0answers
22 views

What Debtors in Current assets refers to in Abbreviated Balance Sheet?

What Debtors in Current assets refers to in Abbreviated Balance Sheet for Limited company? It's the same as Trade Debtors? Does it mean that somebody else owes the money to a company? If so, any way ...
2
votes
1answer
360 views

Single member LLC capital contributions and IRS reporting

I have a single member LLC which is a disregarded entity for IRS purposes. I have a new attorney who told me that when ever I make a capital contribution to the LLC out of my own pocket or transfer by ...
4
votes
3answers
302 views

How can I invest my personal money in my own Limited company in the UK?

I registered a Limited company in the UK one year ago and I am the sole shareholder and sole director of the company. Now I want to invest £50k in the company so that I can buy products and rest of ...
2
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1answer
329 views

How can I register a UK business without providing a business address?

If you are a start-up from home and do not have an office yet, how can you register your business on http://www.companieshouse.gov.uk/ without publicly disclosing your personal home address? I know ...
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0answers
38 views

Does dividend payments to a holding company invoke tax in Australia

I've been doing some reading about holding company tax law, and from what I've read, most of the time when dividends are paid from a operations company to a holding company there is no tax. But I can ...
2
votes
1answer
287 views

How does 1099 work with my own company

I have a single member entity LLC set up and I am the only owner/member/employee of this company. I work at client place, i.e Client pay hourly rate to one other company, that company pay to my ...
6
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1answer
270 views

Is PAYE Mandatory for Making Salary Payments

I am the director of a limited company in England and Wales and am the only worker and shareholder. I understand that it is advantageous for me to draw a salary from the company and also take some ...
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1answer
579 views

I am not a US Citizen But Can co own the LLC company with my US National Cousin?

I am in India and I provide projects to Indian companies that i get from US, but lots of companies asking me to open a LLC company and Bank account as they feel comfortable in paying in my US account ...
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1answer
71 views

financial institution wants share member break down for single member LLC

Due to latest crop of regulations, a particular financial institution is requiring a share member break down for a single-member LLC, an odd step in verification since there is only one share member ...
4
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1answer
223 views

Tax Benefits of Loaning to Loss-Making UK Company

I have a limited company in the UK that is, unfortunately, currently making a loss. The company has been loaned cash (about £2000) by myself but isn't making a profit yet and I have taken no salary ...