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This message was posted by a user wishing to remain anonymous I need some help with this one...I have a multi member S corp...was formed in 2021...its 2 members... Say Lou and Bill ..Lou is on payroll Bill is not but transfers money to his LLC as payment ...
Hi James...Thanks for the response.. this is what i started doing. .How do you handle the land portion? and the goodwill? BTW its Ms. lol ------------------------------ Terri Muhammad Muhammad CPA and Associates Chicago IL (833) 557-0057 -------- ...
This question is a lot trickier than it appears. The IRS has ruled that turning a multi-unit property into condos and selling them off one at a time may turn the owner into a dealer and the real estate into inventory creating ordinary income. I remember ...
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