The tax implications of transitioning between LLC types can be significant. Transitioning to a multi-member LLC changes the tax treatment to that of a partnership, requiring the filing of Form 1065 and issuing Schedule K-1s to each member. Conversely, moving from a multi-member to a single-me...
When you reach the tax structure portion of your operating agreement, you may find it especially helpful to consult with an attorney who specializes in tax laws. During this stage, you'll decide how you plan todistribute your LLC's profitsand losses among members for tax purposes. Usually, L...
When starting any business, you always have to think about all the external factors that can affect your operations. These include current and future regulations, tax implications, reliable workforce availability, operation cost, and more. Below are some of the expectations in the Sunshine State: ...
page) status. If you aren’t familiar with S corps, then let’s review them. Hearing the term “corporation” in S corporation might lead you to believe that it’s a type of business entity. Actually, an S corp is nothing more than a tax designation. This means certain business ...