SE Tax Husband/Wife Multi Mem LLC

Joined
Aug 30, 2010
Messages
1
Reaction score
0
A client is forming a multimember LLC in which both he and his wife will be members. A third member will have a small percentage interest. It will be a member-managed LLC, with husband the principal contributor time-wise, and wife and other member contributing occasionally. In making the initial capital contributions, can husband make the larger contribution, getting a larger percentage of ownership and same profit allocation, with the objective that a larger share of SE income will be allocated to the husband, thus hitting the SE limit faster than if both husband and wife are allocated equal profit distributions? Or would theSE limit simply be applied to their combined earnings?
 

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.

Ask a Question

Members online

No members online now.

Forum statistics

Threads
11,775
Messages
27,839
Members
21,814
Latest member
alea2024

Latest Threads

Top