ShawnE Posted April 11, 2011 Report 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
NECPA in NEBRASKA Posted April 12, 2011 Report Posted April 12, 2011 Love it! I really like the guy beating his head. Quote
ShawnE Posted April 12, 2011 Author Report Posted April 12, 2011 I seem to be using that graphic a lot lately Quote
jainen Posted April 12, 2011 Report 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
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