Two member LLC, 50/50 ownership and profit. Taxed as a 1065 partnership. One partner is inactive in the operation of the partnership. The LLC pays for the inactive partners health insurance and company vehicle. Should these payments for personal expenses be classified as guaranteed payments or can they be distributions?
Guaranteed Payments llc taxed as partnership
- Thread starter Taxman64
- Start date
Ask a Question
Want to reply to this thread or ask your own question?
You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.
Similar Threads
Forum statistics
Latest Threads
-
USA Anyone have experience with Black Ore Tax Autopilot?
- Started by mich_accountant
-
Recognition of financial asset
- Started by Volabos
-
VAT RELATED
- Started by maganjam
-
USA Embedded derivative
- Started by Xuanchen
-
Canada Basic Bookeeping questions from a beginner - Incorporated
- Started by sceptre
-
UK Question about earnings made online
- Started by carltonnash
-
new here
- Started by carltonnash
-
USA Noncash Transaction
- Started by fleetyweety