q and a 2015

 


Choose your accountant; initial start-up expenses; Maximizing your deductions; IRS “business or hobby”; California State and Franchise Tax documents; Seals are now gold “stickers” not embosser pliers; Waiver of Notice or Written Consent; Privacy; changing to Small Business Tax Treatment (sub-Chapter S); 105 medical reimbursement plan;

Capital Contribution vs. Loan vs. Expense; start-up expenses; out-of-state rental properties; foreign registration; rental taxation; asset protection; Standard LLCs and Series LLCs; layers of privacy; revocable and irrevocable trusts; umbrella insurance policy; annual reports; start-up expenses;

Overseas companies; 105 health reimbursement plan; renting property; layering entities; trusts; using LLCs for tax liens, rental properties, flips; the difference between an S LLC and an S Corporation; the difference between an LLC and a Corporation; multiple different activities in one company; California Realtors may not be able to use an LLC or Corporation; starting a living trust; using the Small Business Tax Election to lower the self-employment / employment taxes; additional workbooks; when should you apply for sub-Chapter S or Small business tax election; compare single member, partnership, S and C tax treatment;

how small should you make your capital contribution; using a loan; using the operating agreement; ordering workbooks; changing / amending the operating agreement; accounting for equipment used for business purposes – before and after company formation; annual meetings; choosing a bank; choosing a CPA / accountant; sharing home and business expenses;