Blog Archives

Tax Implications of Converting an LLC to a Corporation

The Perturbing New Treatment of Patents Under the Tax Cut & Jobs Act (TCJA)

Seeking clarity in the US Tax Code on Behalf of US Taxpayers EVERYWHERE

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Posted in Business Structure, Corporation, LLC

Business Entity Selection and the Tax Consequences of Converting

Business Entity Selection and the Tax Consequences of Converting

Business Entity Selection and the Tax Consequences of Converting

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Posted in Business Structure, Corporation, LLC, Sole Proprietor, Sub-chapter S

LLC Income is INDEED Subject to Self Employment Tax: IRS Chief Counsel Advice 201436049

In 1997, the IRS issued proposed regulations governing when the distributive share of partnership income for Limited Liability Company (LLC) members was to be included in self-employment income. It basically advised that an LLC member would be treated as a

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Posted in Employment Tax, Entity Classification, Limited Partnership, LLC, Material Participation, Passive Activity, Payroll Tax Problems, Small Business, Social Security Tax, Taxable Income, Uncategorized

What is the best Business Structure to form If Any?

What I love most about Colorado, more than the 300+ days of sun every year and the glorious rocky mountains, are the people.  For the most Coloradans are risk taking job creators, starting new businesses from scratch out of their

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Posted in Business Expense, Business Income, Business Structure, Capital Gain, Capital Loss, Employment Tax, Limited Partnership, LLC, Net Operating Loss, Partnership, Self Employ, Small Business, Sole Proprietor, Start up costs, Sub-chapter S, Tax Guidance & Preparation

Should A Husband/Wife Form an LLC to Invest In Real Estate?

Business Entity Selection and the Tax Consequences of Converting

Should A Husband & Wife Form an LLC to Invest In Real Estate? Literally the $1,000,000 question. A husband and wife formed a Limited Liability Corporation (LLC) that invests in rental real estate to protect themselves in event of a

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Posted in Husband/Wife, LLC, Rental Real Estate

Single member LLC

Over the years, there has been confusion regarding Single Member Limited Liability Companies (SMLLCs) in general and specifically, how they can report and pay employment taxes. An LLC is a new entity created by state statute. The IRS did not

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Posted in LLC
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