Pay for LLC member

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Subject Author Date Pay for LLC member Bill 09-07-2009  Re: Pay for LLC member Arthur Kamlet 09-07-2009  Re: Pay for LLC member LoTax 09-09-2009  Re: Pay for LLC member HLunsford 09-09-2009  Re: Pay for LLC member paulthomascpa 09-10-2009  Re: Pay for LLC member LoTax 09-10-2009  Re: Pay for LLC member Arthur Kamlet 09-10-2009  Re: Pay for LLC member Gene E. Utterback, EA, RF... 09-10-2009  Re: Pay for LLC member HLunsford 09-10-2009  Re: Pay for LLC member Stuart A. Bronstein 09-10-2009  Re: Pay for LLC member paulthomascpa 09-11-2009  Re: Pay for LLC member HLunsford 09-11-2009   Re: Pay for LLC member Steve Pope 09-10-2009  Re: Pay for LLC member HLunsford 09-10-2009  Re: Pay for LLC member Bill Brown 09-11-2009  Re: Pay for LLC member LoTax 09-11-2009  Re: Pay for LLC member Arthur Kamlet 09-11-2009   Re: Pay for LLC member Steve Pope 09-12-2009  Re: Pay for LLC member HLunsford 09-12-2009  Re: Pay for LLC member Gene E. Utterback, EA, RF... 09-14-2009  Re: Pay for LLC member LoTax 09-15-2009  Re: Pay for LLC member Arthur Kamlet 09-15-2009   Re: Pay for LLC member Steve Pope 09-15-2009  Re: Pay for LLC member Arthur Kamlet 09-15-2009  Re: Pay for LLC member HLunsford 09-15-2009  Re: Pay for LLC member Gene E. Utterback, EA, RF... 09-22-2009   Re: Pay for LLC member Steve Pope 09-22-2009  Re: Pay for LLC member Stuart A. Bronstein 09-22-2009  Re: Pay for LLC member HLunsford 09-12-2009  Re: Pay for LLC member Bill Brown 09-12-2009   Re: Pay for LLC member Steve Pope 09-13-2009  Re: Pay for LLC member Bill Brown 09-13-2009
Posted by Bill on September 7, 2009, 10:07 am Please log in for more thread options Can a managing partner of an LLC be paid as an employee? -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Posted by Arthur Kamlet on September 7, 2009, 12:58 pm Please log in for more thread options >Can a managing partner of an LLC be paid as an employee? Has the LLC elected to be taxed as a corporation? If not, then no. -- ArtKamlet at a o l dot c o m Columbus OH K2PZH -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Posted by LoTax on September 9, 2009, 3:02 pm Please log in for more thread options On Sep 7, 12:58�pm, kam...@panix.com (Arthur Kamlet) wrote: > > >Can a managing partner of an LLC be paid as an employee? > > Has the LLC elected to be taxed as a corporation? �If not, then no. > -- > > ArtKamlet �at �a o l dot c o m �Columbus OH �K2PZH > > -- > << ------------------------------------------------------- >> > << The foregoing was not intended or written to be used, � >> > << nor can it used, for the purpose of avoiding penalties �>> > << that may be imposed upon the taxpayer. � � � � � � � � �>> > << � � � � � � � � � � � � � � � � � � � � � � � � � � � � >> > << � The Charter and the Guidelines for submitting posts � >> > << �to this newsgroup as well as our anti-spamming policy �>> > << � � � � � � � � �are atwww.asktax.org. � � � � � � � � >> > << � � � � Copyright (2007) - All rights reserved. � � � � >> > << ------------------------------------------------------- >> "If not, then no," says ArtK. And I say: "Show me." I would hope that *if the relationship between the LLC and the person who's managing it is that of employer-employee* that the manager would be "paid as an employee" and would get a W-2. He might not be eligible for some tax-advantaged fringe benefits, however, because of his membership in the LLC. -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Posted by HLunsford on September 9, 2009, 3:50 pm Please log in for more thread options LoTax wrote: > On Sep 7, 12:58�pm, kam...@panix.com (Arthur Kamlet) wrote: >> In article >> >>> Can a managing partner of an LLC be paid as an employee? >> Has the LLC elected to be taxed as a corporation? �If not, then no. > > "If not, then no," says ArtK. And I say: "Show me." > > I would hope that *if the relationship between the LLC and the person > who's managing it is that of employer-employee* that the manager would > be "paid as an employee" and would get a W-2. He might not be > eligible for some tax-advantaged fringe benefits, however, because of > his membership in the LLC. > It's because if the LLC is taxed at the default setting, i.e. partnership, partners do not received W2's. Neither would a single member in an LLC taxed as a proprietorship. Therefore, only an LLC taxed as a corporation would issue a W2 to a member. I thought that had been settled long ago. ChEAr$, Harlan Lunsford, EA n LA -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Posted by paulthomascpa on September 10, 2009, 12:10 pm Please log in for more thread options > I would hope that *if the relationship between the LLC and the person > who's managing it is that of employer-employee* that the manager would > be "paid as an employee" and would get a W-2. He might not be > eligible for some tax-advantaged fringe benefits, however, because of > his membership in the LLC. If you are looking for how to treat payment for services to the partner for managing, it's handled as a "Guaranteed Payment to Partner" in most cases. Still, a W-2 is not issued, as those payments are reported on that specific partner's K-1. -- Paul Thomas, CPA Watkinsville, Georgia -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Similar Threads Posted Two Member LLC; Now Single Member LLC November 9, 2009, 7:44 pm Another Two Member, Now One Member LLC Question November 9, 2009, 7:44 pm Single member LLC January 20, 2008, 1:18 am LLC member salaries uneven? 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