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| bio | website | geekswithblogs.net/seanfao |
|---|---|---|
| location | Columbia, MD | |
| age | 33 | |
| visits | member for | 2 years, 6 months |
| seen | Feb 12 '11 at 13:02 | |
| stats | profile views | 5 |
Sr. Software Engineer from Columbia, MD.
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Dec 29 |
comment |
Taxing Unpaid Member of LLC Pro Rata Share of Profits As long as I claim the taxable income and pay tax on it, I don't see why it would be a problem. I'm talking to a CPA later this evening, however. Thank you for the information. |
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Dec 9 |
comment |
Startup - End of Year Bank Account Balance Ultimately, my obvious goal is to make money. If I keep taking money out of the corporate bank account at the end of the year, the company will never have a substantial "buffer" to fall back on during more difficult times, for example. In my case, if the money is in the bank account, it almost certainly came from a client (which makes it profit). How do I build a buffer while still legally minimizing money owed to the IRS? |
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Dec 9 |
comment |
Startup - End of Year Bank Account Balance I'm guessing she actually meant end of year profits should be minimized, so as not to pay taxes on them. This might be a stupid question, but is there anything wrong with reinvesting the money back into the organization at the beginning of the year? |
