There are important tax and legal considerations to transferring property to your sister. 1. the home would become subject to your sister's...

Yes. You are probably responsible for a portion of the costs. However, you could politely ask your sister to cover your share of the taxes and...

Setting up an account for the estate is certainly best practice. Even though you may be the sole beneficiary of the estate, creditors come first. ...

Not unless the trust agreement expressly allows for it. Sometimes a trust agreement will allow a person to change the beneficiaries or the method...

Should a LLC withhold additional taxes (cash) on equity compensations (which is not hard cash)?

I am not certain whether this question was edited but there appears to be some very incorrect answers. An LLC is a legal classification and not a...

An agent may not revoke or amend a trust revocable or amendable by the principal or require the trustee of any trust for the benefit of the...

Is the stock and debt basis of a LLC calculated the same way as it is in a S corporation?

Assuming your LLC is taxed as a partnership, there will be some slight differences. There are two main differences that come to mind. First, the...

Under Section 7701(b) of the Internal Revenue Code an alien individual will be considered to be a United States resident with respect to any...

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Form S corp for tax purpose under LLC

LLC is a legal designation and S-corporation is a tax designation. You can have a 2 member LLC taxed as a partnership, S-corporation, corporation,...

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I think the easiest option is generally to buy the membership interest. However, I realize that is not always feasible, particularly when the...

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