Client's business operated as a Sole Proprietorship through 05/30/16, generating $260,000 in net profits.
On 05/31/16, TP formed an LLC electing S-Corp taxation and proceeded to operate the same business with the new structure, generating 2016 profits of ~$100K after his salary.
On 03/31/16, TP purchased a Tesla Model...
2 results in 0.0015 seconds.
-
Please help!Complicated Auto Depreciation for Mid-Year Sole Prop to S-Corp Conversion
-
Assign Corporate Income to Sole Proprietorship
Hi Everyone:
Can a sole owner of an S-corporation choose to assign the S-corporation income to his personal return ( Sole Proprietor / Schedule C ) ? The 1099-Misc was issued with S-corp name and EIN. I will report the 1099 income on S-corp return, and zero it out with "other deductions" entry.
I don't have...