asked
Is it possible to open an LLC with only one member? Can this member be an employee of the company? If so, can compensation be divided between salary and distribution of profits? Which type of taxation exempts the distribution of profits to the partner from charges? Does the partner residing in the country need to be legally in America? If the work visa is expired, what is the procedure to open the company? Is taxation as an S-Corporation the best option for a company that invoices $1,200,000 a year with costs and expenses totaling $800,000 and a member's salary of $120,000 per year? Our main activity is subletting apartments per season; is there any activity related to this field where the taxation is more interesting for the company?
April 25th, 2024
I am transferring from WI to AK for a new government job, and the move is not being paid for by the government. I would like to ship my vehicle to avoid driving in the winter. I have an estimate of $5000.00 to ship it. Will this cost along with the airline ticket, rental car, and hotel cost while I find housing be tax deductible?
February 26th, 2024
Should a non-profit organization (NFP) issue 1099-MISC forms for payments made to artists as part of a 'Call for Projects' initiative if the payments were more than $600 each, and these payments were grants for which no services were performed?
October 8th, 2023
On May 1, 2017, my cousins and I acquired several buildings. Shouldn't these buildings be depreciated according to IRS rules, namely written off over a 39-year period? Additionally, when we make improvements to these buildings and lease them out, shouldn't our improvements be depreciated over a 15-year period?
August 23rd, 2024
Can I legally have volunteers or interns work for my LLC, which handles sensitive information, without paying them, if the primary purpose is for experience and there is no monetary benefit to the business?
December 9th, 2024
Can I file as head of household if I pay the mortgage payments on my second home, even if I don't live in the home?
April 3rd, 2023