ShawnE Posted April 11, 2011 Report Share Posted April 11, 2011 So, this gal comes in and hands me her bank statments to do her taxes from. (problem one)... Then tells me that the account for the LLC doesn't count since it is owned by her Corporation... (problem two) When asked if the corporation had a tax return done, she replied that the guy who set this up said that if the LLC (which had all the business run through it) was owned by a corporation that there were no taxes... OMG - Quote Link to comment Share on other sites More sharing options...
NECPA in NEBRASKA Posted April 12, 2011 Report Share Posted April 12, 2011 Love it! I really like the guy beating his head. Quote Link to comment Share on other sites More sharing options...
ShawnE Posted April 12, 2011 Author Report Share Posted April 12, 2011 I seem to be using that graphic a lot lately Quote Link to comment Share on other sites More sharing options...
jainen Posted April 12, 2011 Report Share Posted April 12, 2011 >>owned by a corporation that there were no taxes<< He was telling the truth. The LLC is a disregarded entity. It pays no tax on its income, nor does the individual who controls it through her corporation. Whether the corporation pays tax depends on a lot of other factors not necessarily related to the LLC. Your state (Nevada) has quite the reputation for corporations dodging taxes. Quote Link to comment Share on other sites More sharing options...
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