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#409 Open Forum Q & A | Your Tax and Legal Questions!

Main Street Business

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Tax Strategies - Q and a on LLC Ownership S Corp

Darren Key or Darren C says, I have an LLC S corp set up in Tennessee held by my trust all because of you guys. He's getting paid from a multi member LLC, 100 grand of which he is also a 20% owner of that LLC. The multi member company will show a profit of say 2 million this year. Number four 2023 will be the first year at this income level. So it looks like next year they're going to have big profits. Now we're going to tax ownership stake LLC tax implications.

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