User talk:Gerrid7

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Gerrid7:

Just wanted to keep you updated on your question. It has recieved a response and is currently located at Quickbooks Premiere. Any further updates should also appear there.

If there are any questions or concerns, please contact us at TaxAlmanac@intuit.com.

Thanks,

Rodney Fowler



Greetings Gerrid,

I saw your question regarding Quickbooks. I posted it under Ask or Answer a Tax Question. It may get better visibility there with other Tax Almanac users. Thanks! Tina Meeker


Welcome

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Tdoyle 23:04, 25 May 2005 (CDT)

Your Question

I moved the question you asked in the article area to the Tax Questions Discussion Forum. You can view your question and any answers it receives at Discussion:Convert LLC partnership to C corporation.

Let me know if I can be of any further help. By the way - welcome back!

- Tim Doyle, TaxAlmanac Moderator - Talk to me 10:00, 2 February 2007 (CST)

Articles vs discussions (and "moving" your user name)

Hi, Gerrid7: In April you posted a new article. Articles on TA are for passing along facts and info to other users. Your article actually appears to be more of a tax question, and as such it shouldn't be an article. I'll paste the contents below, in case you want to start a tax discussion to ask the question.

Also, at some point you tried to "move" your name to GOklahoma? Unfortunately, you can't actually do a name change like that; you either have to request an official name change - which I wouldn't recommend unless you have a ton of user history - or start over. I see that you have, in fact, started over in the past, as OkieTaxMan. I've reverted the GOklahoma move attempt. In the future, sign in as either Gerrid7 or OkieTaxMan.

Trillium 14:14, 26 May 2012 (UTC)


Here's the content from your article, which will be deleted:

Treasury Stock/Negative Equity: S Corporation has 1 shareholder who wants to retire and sell company to family member.

To help the retiring shareholder (with taxes: capital gain on sale of stock rather than recapture on sale of assets) we setup the transaction as a treasury stock transaction where the company purchased all but a few shares of his stock with the remainder of his stock being sold to the entering family member. {1000 shares outstanding before transaction (990 purchased by company, 10 purchased by family member)}. The treasury stock transaction will considerably exceed the common stock, retained earnings, and accumulated adjustments as shown in the equity portion of the balance sheet. What issues/pitfalls do I need to be concerned with? Is there a problem with a negative equity on balance sheet due to the cost of the treasury stock? I assume this will restrict future distributions until the equity has increased above zero.


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