Questions tagged [limited-liability-company]

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 recommended to be used as long as the meaning is same.

Filter by
Sorted by
Tagged with
6
votes
2answers
150 views

Adult Entertainment Taxes; Independent Contractor, SMLLC, LLC, S-corp, etc?

I've been dancing for a few years. I've been filing taxes as an independent contractor. I do not receive any 1099s. All my earnings are cash, received that day. I pay a house fee (rent for being ...
4
votes
2answers
248 views

Does a musician under an LLC have to file a foreign qualification for shows in other states?

Does a musical band or similar service under an LLC have to file for a foreign qualification in every state they play a show in/employ their service?
2
votes
0answers
70 views

Should I sell or gift my vehicle (RV) to my own LLC?

3 years ago I've purchased an old RV to use (and still using) it as a mobile office and laboratory. A month ago I registered an LLC and now I want to transfer the ownership of my RV to my company. The ...
2
votes
2answers
179 views

How do companies profit after initial shares have been sold? [duplicate]

I have experience in investing and invest in several mutual funds each month, I understand the concepts of how the investor makes money from shares (either by dividend pay-outs or increases in share ...
2
votes
1answer
56 views

Setting up a LLC in Wyoming as a non-resident to invest in stocks

I would like to open a LLC in the US in order to have access to some online brokers, like Interactive Brokers and Robinhood. I understand I will need to file an annual report with the state (Wyoming ...
2
votes
0answers
42 views

Does LLC payment count as payment to me (for unemployment purposes)

In the summer I received unemployment payments from California thanks to new federal laws that gave benefits to self employed business owners. The specific TYPE of unemployment for self-employed ...
3
votes
1answer
38 views

Cost basis of Limited Partnership assets

There is a limited partnership (an LLC taxed as a partnership) that owns various assets. If I buy interests in the partnership from existing limited partners at an arbitrary price, how is the cost ...
0
votes
0answers
39 views

Can I use transferwise business instead of a traditional bank account for my business?

I have a transferwise business account and it provides me with the banking information I need to receive electronic payments from my customers (routing, number, IBAN etc...). Can this be my "...
1
vote
0answers
15 views

Schedule E vs Schedule C

I purchased (with a mortgage) a mixed-use building with an LLC in 2019. I rent the two retail/commercial units to two LLC businesses (one owned by me, and one owned by my wife). This building also has ...
1
vote
1answer
37 views

Which type of organization should I choose to register in Germany to minify taxes for a non-profit software products

I'm (being a resident of Germany) going to introduce a software foundation - keep in mind though that I'm using term "software foundation" in a non-legal sense; and actually the goal of this ...
2
votes
0answers
25 views

Getting paid by my own disregarded entity in Idaho, do I need to file an Idaho personal income tax return

No physical assets nor contracts in Idaho itself. I do not live or physically present in Idaho. So reading through the income tax documents: Idaho source income is income from: Transactions or ...
0
votes
0answers
27 views

how does a non resident alien (Indian) file US taxes?

I have started an LLC in Delaware, USA. I am a non resident alien, living and working from India. The LLC is a sole proprietorship. As far as I know, I have to pay Delaware state annual tax of $300. ...
2
votes
1answer
66 views

I am a single member LLC. I am most likely going to have a business loss this year 2020. What do I need to know to report a loss?

I run a small repair shop in NYC and this year 2020, I will need to report a loss. I never reported a loss before so I'm not sure if my knowledge of it is out of date or not. I read that for 2020 ...
1
vote
1answer
83 views

Is there any advantage to incorporating some sort of business for the purpose of holding and trading equity holdings?

What options are there for incorporating a holding vehicle for equity positions rather than owning them in my own personal name?
4
votes
2answers
76 views

single member LLC banking, do you have to open a “business account” or can you open a dedicated “personal account”

I have a single member LLC and was wondering about regulations around what banks advertise as "business account" vs "personal account". Do you have to open a business bank account ...
0
votes
0answers
18 views

Electronically file quarterly statement for SMLLC in idaho

I live in Nevada, but have opened a Single Member LLC in Idaho and was wondering where to file my quarterly estimates since there's no link i could find online. This the only thing I found https://tax....
2
votes
1answer
221 views

Source of funds for formation of IRA-owned LLC

I've been reading the excellent book The Self Directed IRA Handbook by Mat Sorensen. My understanding is that I can achieve personal control of the checkbook for my retirement investments by forming ...
4
votes
1answer
480 views

How to file 1040NR form as a non-resident alien owner of a U.S. LLC in Wyoming?

I'm an Egyptian citizen, living in Egypt and I own a LLC in Wyoming. I am the only owner of this LLC (single member managed LLC). I use this company to accept international payments through stripe.com ...
2
votes
0answers
51 views

Has anyone done the process of starting an LTD to trade stocks in the UK? What is required?

I have stocks into a personal account. As you can imagine, if I want to sell and buy during ups and downs, I'll have to account for tax every time I make a profit, even though this is fully reinvested ...
6
votes
3answers
857 views

What is considered a business expense on a business trip?

Scenario: I own my own business (LLC). There is a business-related conference that I wish to attend that requires travel. I assume airfare, cabs, hotel and conference tickets are all obvious ...
0
votes
2answers
150 views

What are the tax implications for an individual renting property from an LLC of which they are a member?

The scenario is that individual I is a member of LLC L, and L owns property P. L distributes profits and losses to I. I rents P from L. An obviously significant free variable is how much rent L ...
2
votes
2answers
82 views

Should I form an LLC or a non-profit?

I am considering forming a business for a charitable purpose. We already have a website and Facebook page to get people to spread kindness for our cause. We'd like to start accepting donations and ...
0
votes
0answers
26 views

QBI calculation when S Corp owns LLC

I am sole owner of an S Corp that is a member in an LLC. Let's say my S Corp gets $100k from the LLC, of which $50k is guaranteed payments (not eligible for QBI) and $50k is K-1 income (eligible for ...
0
votes
0answers
27 views

Are priority profit allocations eligible for QBI?

I know guaranteed payments from an LLC are not eligible for QBI. However, I've found two sources (here and here) that say that a priority profit allocation from an LLC is eligible for QBI. I can't ...
0
votes
1answer
43 views

LLC in Florida needed if already have a New Mexico LLC?

I'm a resident of Florida and need to a create a LLC for liability protection. My business will solely be an online business. I would like to form the LLC in New Mexico as they have no annual report ...
1
vote
1answer
81 views

Can I “move” work from my sole trader days to my new limited company

I did some freelance software development work for a company last year and having gained some experience, knowing that I'll probably be doing much more of this kind of work, I want to protect my ...
7
votes
3answers
241 views

What are some tax strategies for when you are self-employed with low income, but every 4-8 years you get a huge spike of income?

I am self-employed in the United States, and am working on long-term projects. Most years I don't make much (lets say $20k), but every 4-8 years, after a large project is complete, I expect to get a ...
0
votes
1answer
80 views

I am a NON US resident but I have a SSN and I formed an LLC in Wyoming. Do I need an EIN or I can use my SSN?

I'm a NON US resident but I have a SSN and I formed an LLC in Wyoming. Do I have to apply for EIN or I can use my SSN? I am the only member of an LLC.
1
vote
1answer
52 views

Declaring partnerships or companies abroad in the US

As a tax resident of the US, if I plan to start a company with a relative (Aunt, Parent, Sibling, Cousin) in a foreign country with informal funds that we manage in the family (for ex: by pooling ...
0
votes
2answers
109 views

What are the risks for a Canadian opening a Delaware corporation?

I am a Canadian, living in Canada, born in Canada to one Canadian and one Canadian/American parent, which makes me an American "Person". This means I am responsible for filing and paying ...
-1
votes
3answers
62 views

Company Mortgage - Can I write off Principal as a Business Expense?

Our business purchased a home that is used as one of our business locations - employees working there are allowed to have room & board taken out of their payroll (pretax). Question If we use ...
1
vote
1answer
128 views

Can I create an LLC, offshore, or a Limited company in the the U.K. to invest my personal money in equities? [closed]

So, I have a large portfolio of stock assets, gold etc. and I want to leave these specific assets from some of my brokers and physical gold/silver to one of my grandchildren, 14 (please don't tell me ...
0
votes
1answer
70 views

In what order are taxes stacked for an LLC

This isn't about some exact country, it's more about the general idea (which, I believe, is very similar in most of the world). But if you need some context, let's say that we're talking about a ...
0
votes
0answers
51 views

Can a disregarded entity carry forward a tax loss?

I've heard that in general only businesses can carry tax loss forward (though in certain cases individuals can, too). Can someone filing taxes as an individual because they have a business which is a ...
2
votes
1answer
50 views

Making equity investment of personal money to LLC

NY state here. I have a very small single member, member managed (I'm the member) LLC that has elected to be taxed as an S-corporation (this might be important). The LLC is running a little light on ...
0
votes
3answers
246 views

How do I avoid forming a general partnership while splitting income 50-50 with someone else?

You can see a lot of context by reading here: Every month I make money from Patreon. I want to split my income with a partner. How do I avoid paying taxes on 100% of the income? I don't have an LLC (...
1
vote
0answers
25 views

Selling Asset to Own Company and Recording as Directors Loan

So I've set up a limited company (in England and Wales) and I want to sell some of the equipment I bought for this company prior to incorporation so that I can claim back the VAT. However, there's not ...
1
vote
0answers
44 views

How do I document cash capital contribution and digital assets assignment for single member LLC?

I have a single member LLC, which is currently a disregarded entity status (will be upgraded to S-Corp within a month or two). I'm making an initial capital contribution via cash deposit while opening ...
3
votes
2answers
338 views

How do I form an LLC anonymously?

I just read this article and want a second opinion: https://www.legalzoom.com/articles/starting-up-which-state-to-file-your-llc-in I'm considering starting an LLC because I earn about $400 a month ...
0
votes
1answer
50 views

Reducing tax obligation for LLC electing S-corp taxation

United States here, specifically NY state (if it makes a difference). Say we have a super small, 1-man member-managed LLC that has elected to be taxed as an S-corporation. This way, the 1-man member ...
2
votes
1answer
68 views

Two businesses under one LLC

I have a single member LLC and currently I have about $100k revenue and $10k expenses, so I am taxed on $90k profit (100% of the profit is left in a business bank account and never paid out to me). I ...
0
votes
3answers
252 views

Buying a flat abroad through British LTD company

I'm an IT contractor in the UK, I'm considering buying a flat in Poland, rent it on Airbnb or work remotely from there. I'm thinking if it's worth buying it through LTD company in my case. Would it ...
0
votes
1answer
572 views

Is Money in LLC Bank Account Taxable?

If I maintain a business bank account for my LLC in the US, and if I let the money I make from my business remain in the business account (without withdrawing to my personal bank account) and use that ...
0
votes
2answers
95 views

Most tax efficient way to help out with my partner's UK limited company

My partner is the sole director and shareholder of a limited company in the UK. I'm a higher tax payer working for another company and currently receiving just PAYE. Would would be the most tax ...
1
vote
0answers
37 views

What are Fringe benefit employee contributions?

While preparing my company tax return, i came across this curious phrase in the Australian Company income tax return guide (link here) Fringe benefit employee contributions Employee contributions ...
3
votes
0answers
27 views

US Tax treatment of dividends from single member consulting firm, a UK Private Limited Company

US citizen in UK has a salary from one firm which includes National Insurance withholding, and also owns a UK Private Limited Company to which client payments are made for his consulting work. UK tax ...
3
votes
1answer
70 views

Consequences of “hobby” classification for non-resident single-member LLC with no activity and income?

Suppose I am a non-resident who is the sole member of an LLC incorporated in Wyoming. Suppose the LLC has no activity and no income. The only expenses relating to the LLC is the yearly Wyoming license ...
30
votes
4answers
15k views

When should I start an LLC for my side work?

I am doing quite a bit of sidework this year and wondering at what point would it be a good idea to "start a business" and bill through that.
0
votes
1answer
70 views

Ideal country for limited liability company (Ltd.) [closed]

Looking for and ideal country for an Ltd. with the following conditions: English is an official language It's creation and maintenance is at low cost You don't have to be resident of the country You ...
0
votes
0answers
41 views

Taxation on LLC capital gains

If I formed an LLC with private investors and had short-term capital gains then, Are the capital gains taxed on the amount excluding the dividends/profits paid to investors? Will the investors have ...

1
2 3 4 5
8