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A 1040 An 1120 A C corp An S corp An LLC That is all.

I never say "emolument" when I can say "compensation." That's because I eschew obfuscation.

You're welcome! We're not lawyers, so our opinions on SCOTUS rulings are more based on our beliefs than any knowledge of the legal system. I've always said lawyers job security is writing unclear documents then spending the rest of their lives arguing what they really meant.

Ridiculously cute baby pygmy hippo takes his first swim:

There are no words... The Supreme Court has usurped its constitutional powers just like our President has. The Supreme court is not to rewrite laws, but to rule on the constitutionality of them. Penalty now means tax. States now means Federal Government. God help us till January of 2017! It is a sad day for America.

Thanks for sharing that link. It was fun reading some of the arguments that people were making both for and against the SCOTUS ruling.

You be my ... Fuhrer ..........

There are private letter rulings (LTR 200807005 for example) that allow for replacement property to be held by disregarded entities. So the fact that title to the replacement property is in the name of a disregarded LLC is not necessarily a problem. If the LLC was not owned by the S Corporation at the time of the exchange, that may be a problem, but not necessarily. In the letter ruling the taxpayer wanted to acquire as the replacement 100% of the partners' interest in a partnership that owned the property, and that was deemed a good exchange. I would caution against dissolving the corporation without careful research. There will be a deemed sale of the property at fair market value upon liquidation and gain or loss recognized by the corporation and taxed to the shareholder, and it will do nothing to cure a failed exchange, if that is the case.

http://www.cnn.com/2015/06/25/politics/supreme-court-ruling-obamacare/index.html

The only thing I know about UN employees is that they have to itemize. I did one about a billion years ago. But I have an acquaintance who worked for the UN...and she mentioned this within the past decade.

Po-tay-to po-tah-to

I like Jim's answer. SCorp can own the disregarded entity LLC if 100% ownership of both the original property and replacement property. Rich

I think if you can document that a hairstylist is present, you can pay for the lunch and get CE credit for the meeting.

Were any of the friends also hairdressers? That would lend more weight to their advice. /s