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seia/wcill | family memeber bought a business with a partner. put business in scorp and realestate in llc. was set for scorp to pay llc a set monthly rent until business was paid for
as family member fronted all the money. partner takes care of all books, taxes, ect. shouldnt there b e a tax return filed every year whether there is profit or loss?
each 50% owner then gets somethinf to file with there own individual tax return. if busnesses lost money it would be an expense and if they made a little they would
have to pay in on their personal return? i dont think someone is getting things done right. i told family member to run away before it started. now im afraid of a mess. | |
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little tax income info needed