My accountant, can kick all yer accountant's and lawyer's asses...
The lawyer maybe, he is a wee little fellow
Partnership, LLC or Incorporate?
- Thread starter atomicfission92
- Start date
The lawyer maybe, he is a wee little fellow
Check this out, my accountant is this huge black guy, who loves to play the racial card thing -- my lawyers are little jews from NYC, and they do the same thing.
I don't let them in the same room together -- they'd all call Al Sharpton, and sue each other... :sqerr:
I only allow them together, if the IRS wants to talk to me...
I don't let them in the same room together -- they'd all call Al Sharpton, and sue each other... :sqerr:
I only allow them together, if the IRS wants to talk to me...
Check this out, my accountant is this huge black guy, who loves to play the racial card thing -- my lawyers are little jews from NYC, and they do the same thing.
I don't let them in the same room together -- they'd all call Al Sharpton, and sue each other... :sqerr:
I only allow them together, if the IRS wants to talk to me...
Talk about your "Dream Team"
:sqerr:ericlater @ 10:26am said:
I can't comment on want any individual state has established or requires for registering a business and what local taxes/fees are levied. But regardless of what the state does, the business has to fall into one of the following categories for determining how taxes will be filed with the IRS. It's that clear; that simple:
Entities per the IRS: Sole Proprietor, Partnership, Limited Liability Company/Partnership (LLC/LLP), Corporation, Subchapter S Corporation[/quote]
I provided links to what the IRS has to say on the matter of LLC's. I believe it was DJCC who posted the following in response to my last comment?
[quote="DJCC]
Well then you can call my tax man and tell him he's been doing it wrong for 15+ years[/quote]
Again, I never commented on what registration options any particular state offers a new business!
AND, I never suggested anyone's accountant has been incorrect in their work. But the person who stated that I had suggested his accountant was wrong did so with "attitude".
I did point out that the IRS does not recognize as a LEGAL entity a "Limited Liability CORPORATION"
DJCC said:
And, Sir, I don't know how your business is set up (and I don't care)! And, I never questioned how you are filing your taxes! What you meant to say is that you are FILING as a Subchapter S!
What I did take exception to, is letting people believe that in EVERY state an LLC is an option and that every LLC is a CORPORATION! I know that while my state offers the option of LLC, it is NOT a corporation! And I have no idea what other states offer.
And when I reviewed the options for my various businesses, I chose to incorporate one and keep two as single proprietorships. AND the tax consequences of all of those entities are passed through my personal return. As to incorporating and making all other necessary filings, I did them myself. Oh, and I file my own tax returns!
I do, however, take exception to your statement which is in bold above: I said that I am set under an LLC, BEING TAXED AS A S-CORP. Subchapter S corporations do not pay taxes! What you meant to say is that you are FILING as a SubS!
I have been doing my LLC and taxes this way for years, and have been through a couple of audits and passed with flying colors.
Why don't we do this, agree to disagree and leave each other alone.
I have been doing my LLC and taxes this way for years, and have been through a couple of audits and passed with flying colors.
Why don't we do this, agree to disagree and leave each other alone.
Sir, there is nothing to agree to disagree about. Print out what I posted for you accountant and he will inform you of how little you know about what you are saying. It's that simple.
If nothing else, you are the one who is disagreeing where there is little disagreement other than with terminology and basic concepts. And being audited has nothing to do with the topic. The IRS doesn't audit any entity to determine if they have set up their business properly with the state! The IRS simply regulates what you must do once you have organized and begun your business!
Oh, and as to an IRS audit, you pass through it with or without adjustment. They don't grade you, particularly with "flying colors"!
Seems you've been through a lot and have no idea what you have been experiencing. Why not sit down with you accountant and have him explain it all to you rather than coming onto a forum and spouting "advice" to those who need it that is un-reflective of the real world?
But how stubborn must one be to ignore (the links) what the IRS has to say about the subject of LLC's? I would imagine and hope that the other participants looking for options and general input have gotten enough from this thread to better consider how they would like to set up their businesses.
And for the last time: Where did I suggest that you accountant has done anything wrong or that you are NOT filing as a SubS? Yet, you feel compelled to tell me about your experience with IRS audits! Why so defensive... I wonder?
Why are you baiting me???
You have no clue on how my LL CORPORATION is set up or being taxed.
I do not need to print sh*t to give to my accountant, because I have an accountant, I do not do my own taxes.
The fact is I am the controlling member of my LL CORPORATION, and taxed as a "S-Corp".
I have taken the high road and stated "Let's just agree to disagree" and you want to keep trying to bust my ba**s.
I am now done with you and your comments and wish you good luck.
ericlater @yesterday 06:37 pm" said:
Then you say:
djcc said:
Again, you repeat over and over that you are filing as a SubS even though I never said you weren't or couldn't!
What I HAVE pointed out is that there is no such legal entity as a Limited Liability CORPORATION according to the IRS! It does, however, recognize Limited Liability COMPANIES! And that FACT is covered in the links I provided and that is a FACT that you want to ignore!
If I were in your situation, appearing to be someone who knows and cares about what my accountant is doing, I would read the links and actually ask him what elections he took when registering my business with the IRS, since it seems to be so important to you?
But you don't want to read the links and you don't want to ask your accountant! So, who's baiting whom?
BTW: I am a retired CPA and practiced accounting for 25 years! And I have set up many new businesses in several different states! And under IRS statute you had many options as to how to file your taxes, a SubS being just one of them. So, again, when did I indicate that you couldn't or weren't filing as a Sub S?