Discussion:Guaranteed payments with loss
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| Revision as of 22:25, 22 April 2009 PBinNJ (Talk | contribs) (New Discussion) ← Previous diff |
Revision as of 00:42, 23 April 2009 Bjeter (Talk | contribs) (Yep, that's one) Next diff → |
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| {{ForumNewPost|UserID=PBinNJ|Date=22 April 2009|Text=I've reviewed the previous discussion but I just want to make sure the rules haven't changed. Mother and daughter formed LLC taxed as a p/s. Mom invests about 100k in salon and daughter invests zero but both work and will draw guaranteed payments. Mom and husband have other profitable businesses so in order to get mom the losses in the first year or two, I'm suggesting they divide losses something like 98% mom and 2% daughter. Mom and daughter can still draw GP's and daughter will pay self employment taxes on excess of GP over her 2% share of the losses. Sound ok? Comments, please. Thanks.}} | {{ForumNewPost|UserID=PBinNJ|Date=22 April 2009|Text=I've reviewed the previous discussion but I just want to make sure the rules haven't changed. Mother and daughter formed LLC taxed as a p/s. Mom invests about 100k in salon and daughter invests zero but both work and will draw guaranteed payments. Mom and husband have other profitable businesses so in order to get mom the losses in the first year or two, I'm suggesting they divide losses something like 98% mom and 2% daughter. Mom and daughter can still draw GP's and daughter will pay self employment taxes on excess of GP over her 2% share of the losses. Sound ok? Comments, please. Thanks.}} | ||
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| + | {{ForumReplyPost|UserID=Bjeter|Date=23 April 2009|Text=Yep, that's one of the advantages of being a partnership.}} | ||
Revision as of 00:42, 23 April 2009
Discussion Forum Index --> Advanced Tax Questions --> Guaranteed payments with loss
Discussion Forum Index --> Tax Questions --> Guaranteed payments with loss
| 22 April 2009 | |
| I've reviewed the previous discussion but I just want to make sure the rules haven't changed. Mother and daughter formed LLC taxed as a p/s. Mom invests about 100k in salon and daughter invests zero but both work and will draw guaranteed payments. Mom and husband have other profitable businesses so in order to get mom the losses in the first year or two, I'm suggesting they divide losses something like 98% mom and 2% daughter. Mom and daughter can still draw GP's and daughter will pay self employment taxes on excess of GP over her 2% share of the losses. Sound ok? Comments, please. Thanks. | |
