New answers tagged limited-liability-company
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dwizum's answer is great, but let me answer your specific question about the visa - which you might have asked on our Travel site.
Technically a B2 visa does not permit you any business activities, which this would count as. However in a lot of cases an application for a B2 gets a B1/B2 visa which combines the allowed activities of both. A B1 visa would ...
2
Generally, to open a business account in the USA, you need to prove that the business exists as both a physical and legal entity, that it's set up appropriately with the IRS, and that you (personally) have proof of identification.
To prove the existence of the business, you'll need to provide articles of incorporation or some other legally binding ...
1
For many people, the QBI deduction does make S-Corp less desirable because only the S-Corp profit is subject to the QBI deduction not the wage portion.
From the IRS:
QBI does not include items such as:
...
- Amounts received as reasonable compensation from an S corporation
...
At your income level you're likely in or beyond the phase out range ...
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First, some corrections:
S-Corp distributions are not taxed at all. Instead, S-corp profits are taxed as regular income to their shareholders as a percentage of their ownership. For example, if you and your wife each own 50% of the company, and there is $500K in profit, then each of you would have $250K in additional taxable income on your personal tax ...
6
Fundamentally, all you need to do is sell your share in company B to company A (assuming you're not actually wanting to do something more like have company B hollow itself out by selling all its assets to company A, and then wind company B up).
There's a good article at https://uk.practicallaw.thomsonreuters.com/3-552-5708 which is a nice comprehensive list ...
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Your question isn't entirely clear, but the answer is fairly simple:
With respect to that foreign partnership, you are either a lender, a partner, or both. In all these cases, you will have to report your interest income on the loan, your distributive share of partnership income, or both, as applicable.
If you lent the money to your relative, you are a ...
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