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#2
06-21-2007, 09:44 PM
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 Re: LLC profit Bill <busswc...[at]aol.com> wrote: - quote - > We have a Limited Liability Corporation and would like to
The net income of the LLC is taxable to the members> purchase a building to house the company. Can we use our > profit this year as a down payment without declaring it as > income to ourselves? regardless of whether it is distributed to them or reinvested in the business. Katie in San Diego << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- > |
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#1
06-20-2007, 01:30 AM
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| Re: LLC profit Bill <busswc...[at]aol.com> wrote: - quote - > We have a Limited Liability Corporation and would like to
No.> purchase a building to house the company. Can we use our > profit this year as a down payment without declaring it as > income to ourselves? << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- > |
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06-18-2007, 01:28 PM
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| Re: LLC profit Bill <busswc...[at]aol.com> wrote: - quote - > We have a Limited Liability Corporation and would like to
No.> purchase a building to house the company. Can we use our > profit this year as a down payment without declaring it as > income to ourselves? << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- > |
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#-1
06-12-2007, 05:07 AM
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| LLC profit We have a Limited Liability Corporation and would like to purchase a building to house the company. Can we use our profit this year as a down payment without declaring it as income to ourselves? Bill << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
| Tags |
| llc, profit |
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