Everything posted by jayla248
Yup this is why I am always looking for new business clients. Since I am already preparing their business returns, they almost always just have me prepare their personal returns (and if lucky, any other shareholders'/partners'/members' returns) and then our real bread and butter is the write-up work they provide throughout the year (usually on a monthly or quarterly basis). When I first started out, I found that charging slightly higher than usual fees for small personal 'I need my refund ASAP' returns and lower than usual fees for more difficult personal or business returns helped me to
My understanding has been that if there are no E&P (which is the case for most of my clients) then paid-in capital CAN affect the taxability of the distribution because it will increase the stockholder's basis and therefore could be distributed as part of tax-free distributions. If, however E&P exists, then the taxability of the distribution is determined with reference to AAA, which does NOT include capital contributions. I looked for some guidance and found this in this article (https://www.forbes.com/sites/anthonynitti/2014/04/08/tax-geek-tuesday-are-those-s-corporation-distribution
I am looking to add to my existing practice in Florida (Treasure Coast or Indian River counties). If you are looking to sell you practice or know of someone else who might be interested please email me at email@example.com.