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.

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1answer
27 views

Accelerated Incentive Units or Profit Shares' pros and cons

I'm new to fundamentals of stock/equity. I have got an offer from an LLC company and the recruiter is saying they will allocate me Accelerated Incentive Units(AIU) which is intended to be treated as ...
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0answers
50 views

Can we shift Delaware LLC ownership percentages without exchanging money?

There are three people in a Delaware LLC, acting as a partnership. We have a formula that we use when we distribute money (based on hours worked, mostly), so our distributions generally don't line up ...
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1answer
63 views

To receive payments from a US company, do you need to start a LLC/PVT in India?

A person, let's say "X" got an offer from a US company as a Consultant. X lives in India. To receive payments from US company, does X need to start a LLC/PVT in India? How can X receive ...
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0answers
46 views

Term For Business Entity Founded With The Sole Purpose Of Holding Non-traditional investment?

I've done some searching but have been unable to find info on what I'm specifically looking for. My guess is there's a specific term for this type of business that I don't know. Suppose I want to ...
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0answers
21 views

Is it possible to refund the previously paid taxes by changing the LLC to S-Corp?

If someone starts an LLC in the US with F-2 visa, then he do apply for EB2-NIW green card and get EAD/AP combo card: 1- Can he change the LLc to S-Corp using this EAD/AP combo card? 2- After he ...
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3answers
275 views

To what extent are companies' owners not responsible to pay back money that they waste?

I've always been confused by this. Apparently, as I understand it, you can register a company for a small sum of money in Western countries, for example the USA or Sweden, which then become its own &...
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1answer
47 views

Can a LLC company with citizen(s)/resident(s) of the US and non-citizen/non-resident board members be filed for tax as a S-Corp?

If there is a startup consists of citizen/resident and international(non-citizen/non-resident) students in the US who they want to create a company and get funding from investors, can they using S-...
2
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1answer
100 views

What are the advantages of LLC over S-Corp?

I saw a video that mentioned that if you don't want to withdraw all your company's net profit and want to invest it again on the company, it's better to have a LLC over the S-corp. Is that true? May ...
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1answer
37 views

LLC Partnership Foreign Partner

My wife and I run an LLC in CA. I am a citizen and my wife is French with a permanent resident card. We are equal members of our LLC Partnership. I filed with TurboTax for our business and when asked ...
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1answer
55 views

How do Employees/Directors represent companies as agents, as regards events involving financial transactions?

How might one perform financial actions which companies as entities aren't allowed to perform, but for which they can be represented by a director or employee? For example, I understand that venture ...
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1answer
54 views

Substantiality of Economic Effect of paying 100% of all LLC expenses out of pocket by one managing member

Two partners with 50% interest in an LLC. One partner is paying 100% of all LLC expenses for the first year so expects to take 100% income or loss. This allocation is done because the other partner ...
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1answer
52 views

How much (if any) tax should I add to an invoice issued by my Delaware LLC while being in California to a Company in Ukraine?

I live in California (San Mateo County). I recently started an LLC (in Delaware) since I am running a SaaS business on the side. I didn't start it in California since I am planning to move to a ...
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2answers
195 views

Business paying back debt to individuals

I have a single member LLC (Missouri, United States) that I started a few years ago. We received approximately $20,000 in funding from family and friends, of which I did not fully understand the ...
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1answer
33 views

How to pay taxes on single owner LLC

I have a LLC with one employee on Corp 2 Corp. The job pays 100k and the employee makes 70k. I am the only member of the LLC and I read somewhere that the IRS treats one-member LLCs as sole ...
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1answer
115 views

How can I find the VAT Nr of an organisation by looking at a money transfer?

I have an app in multiple appstores (ios, android, windows). I have received money from transactions in these stores, and the VAT is taken care of by the stores. Now I have to do my tax administration ...
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2answers
147 views

Does there exist any insurance concept like liability insurance for mobile/computer application developers? [closed]

Lets say that Ram is a freelancer app developer and takes a contract for app development for $6K from an institution. With help of his friend Shyam he develops the app and delivers it to the client at ...
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1answer
120 views

What are the financial ramifications for buying a house under my LLC

I am going to buy a house, but considering buying it under my LLC to protect me from losing the property in the event of a potential law suit. What are the financial implications of doing this if any? ...
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1answer
127 views

How to avoid the $800 minimum franchise tax as a California resident with out-of-state business?

Assume a California resident sets up an out-of-state trust, which in turn is the only member (and manager) of an out-of-state LLC for business in another state (e.g. holding rental properties outside ...
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2answers
36 views

How company total asset increased while net revenue and EPS is negative

How company total asset increased while net revenue and EPS is negative? I looked at one company, and its yearly total asset is increasing year by year. However, its net revenue and EPS still negative....
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0answers
22 views

How much to amortize if purchased sometime mid-year for the tax year an intangible asset?

If my SMLLC purchased an intangible asset (say a domain name for $3000) in the middle of the year (say March X, 2021), assuming we use a 15-year straight-line depreciation, can I amortize the entire ...
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2answers
69 views

Bought a domain before starting a small business (SMLLC), is it considered a startup cost?

I bought a domain ($3,000) right before I started a business SMLLC (single-member LLC). At the time, I thought that the domain can be treated as "start-up" cost so I do not need to ...
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1answer
63 views

Can an LLC be used to pay for expenses incurred before any revenue?

I want to establish an LLC for contract/consulting work, but there will be a fair amount of expenses incurred before I can hope to get some revenue. (e.g. hosting to build website, cost of software, ...
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1answer
42 views

Defining the status of a LLC

This takes place in the USA. I sent the documents that are required to close my LLC but never got confirmation that it was dissolved. Throughout the whole time I ran it, I was never able to log into ...
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1answer
34 views

LLC Assets Short-Term/Long-Term

Suppose I am the sole owner of a Wyoming LLC. I own some property or stock which has an unrealized gain and which I have held for over 1 year and deposit this into the LLC. Now let's say 3 months ...
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0answers
85 views

Can home solar power installations be deducted as a business expense?

I run computer servers at home 24/7, and my home is in California. To power them, I would like to install solar panels and home battery backup system. Can I deduct this as a business expense for my ...
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1answer
40 views
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2answers
226 views

No more income. What are my options to keep my S-Corp from dissolving?

I classified my single member LLC as an S-Corporation to take advantage of the tax advantages for qualifying small businesses as an independent software contractor. This worked well while generating ...
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0answers
18 views

S-Corp distribution & AAA Accumulated Adjustments Account

AAA is an S-Corps retained earnings not yet distributed. income increases AAA distributions lowers AAA (but not below zero) capital contributions does not increase AAA Scenario: I invest $100k in ...
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0answers
19 views

Are S-Corp distributions required to be come from AAA first before a shareholders paid in capital?

This appears so, as the 1120-S M-2 AAA calculation is not increased by paid in capital, only by ordinary income, but is also decreased by all distributions (return of capital).
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1answer
35 views

Where to report payments made to C Corporation?

I have a single-member LLC (disregarded entity, pass-through, not elected as S or C corporation). I hired a C Corporation for a temporary project and made several payments. Question came to my mind as ...
2
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0answers
24 views

UK - Do I need to file final accounts when striking off an empty <12 months old company?

I would like to strike off an empty UK ltd company which is <12 month old and has never done any business and has no employees. My accountant has advised me I don't need to file final accounts ...
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0answers
43 views

How do I categorize myself if I'm an owner of a corporation, and didn't make anything above my initial investment? [closed]

I started an LLC which will be filing as an S-Corp. Thus, my personal taxes are separate. Am I self-employed, or employed by the LLC? I also only received reimbursements for my investment. Do I ...
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1answer
69 views

How do stock trading companies pay tax?

I was trying to understand the business structure of stock trading companies. If you set up an LLC, you have to pay tax on capital gains. When you trade (buy and sell stocks) in the name of another ...
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2answers
76 views

LLC vs S-CORP for Side Business along with regular job

Situation: A person has a good-paying job where the Social Security tax limit is reached or almost reached every year, and the person also has a side business (LLC) that brings in more than 100k every ...
2
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2answers
94 views

Does the (non-resident alien) owner of an LLC (as a disregarded entity) pay income taxes on (non-US) profits?

Let's assume the owner is the sole owner of the LLC. Let's also assume the owner is tax resident in a country with no double tax treaty with the U.S. Let's also assume the profits are not income ...
2
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2answers
42 views

Need access to funds that were earned & taxed prior to establishing LLC

In 2020, I worked as a sole proprietor and kept a 'business' account for my earnings. These were taxed twice - both as personal income and business income. Beginning 2021, I created an LLC (with me ...
7
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2answers
209 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 ...
2
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2answers
198 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
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0answers
147 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
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1answer
119 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
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0answers
45 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 ...
2
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1answer
41 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 ...
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0answers
59 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
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0answers
16 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
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1answer
45 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
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0answers
27 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 ...
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0answers
30 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
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1answer
70 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 ...
5
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2answers
193 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 ...
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0answers
20 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....

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