I currently own 100% shares of S-Corp. I would like to transfer (gift) 51% of shares to my wife and eventually make company woman-owned small business.
Do I necessarily need an attorney or this is...
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I currently own 100% shares of S-Corp. I would like to transfer (gift) 51% of shares to my wife and eventually make company woman-owned small business.
Do I necessarily need an attorney or this is...
Thank you Evan. Appreciate your comments.
Evan,
I understand that this does not depend on business structure -- S-corp, C-corp, LLC -- right?
IRC 127(b)(3) refers to spouses and dependents. We do not list our son as dependent in tax...
Is this regardless of the fact that spouse and child are employees of the company? I an not referring to them as family members, but as regular employees. And the other question is how this cap...
S-corporation
I spoke with my CPA about details of implementing education benefits plan and his answer was that I cannot do this because this "Does not apply to a related taxpayer". Could please anyone shed some...
Evan,
Thank you for pointing to the right direction. You are very helpful, as always.
Hi folks,
I am running IT consulting company and my son is starting tech. college this fall with computer science major. Assuming that he is an employee of my company, can company write of all or...
Thank you very much everyone, appreciate your inputs. Now I have a clear understanding what/how do to this.
Can one of the employees take a loan from my company with intention to pay back within one year? If so, questions:
- What is the right way to show that transaction in QuickBooks? Do I need to use...
Generic question -- does owner's signature on 1020S form represent a "red flag" for IRS and create higher probability for auditing as oppose to CPA's signature? Thanks.
Sorry, you are right that was definitely Workers Compensation insurance. What in the world I was thinking about while typing? Looks like I can not change thread title though.
Anyway, appreciate...
Hi folks,
I received a request to fill out some information for auditor of my insurance company. In particular they ask about "Policy Period Gross Payroll". My question is: Do I need to use...
I am thinking to change official mailing address for my Virginia S-corp, so it
would be different from my personal address. Couple of questions:
If I use this service
Delaware Mailboxes, LLC »...
Evan,
Thank you for your help!
Evan,
Are you saying that SIMPLE can be rolled over to rollover account even if SIMPLE is active, meaning currently is being actively funded? I thought that I can move SIMPLE to rollover account...
I have Rollover IRA that holds money from my previous employers 401Ks, which is no longer being funded. I also have SIMPLE IRA with my own company, which is funded on a regular basis. Is there any...