Active TopicsActive Topics  Display List of Forum MembersMemberlist  Search The ForumSearch  HelpHelp
  RegisterRegister  LoginLogin
Accounting. Audit and Tax
 CPAnet Forum : Accounting. Audit and Tax
Subject Topic: LLC Family Investment (Topic Closed Topic Closed) Post ReplyPost New Topic
  
Author
Message << Prev Topic | Next Topic >>
Cynamoats
Newbie
Newbie
Avatar

Joined: 21 May 2016
Location: United States
Online Status: Offline
Posts: 1
Posted: 21 May 2016 at 14:12 | IP Logged  

I have a client whose purchased a piece of property. This was purchased strictly for personal usage. He has a mortgage on it and has incurred some rather large expenses during Year 2015.   His attorney formed a LLC as a Family Investment.     

Is this the right form of business? They will never show income only expenses. Is it okay to handle this way?

Thank you for any assistance. I am a sole proprietor and I have no one to bounce questions off of.


__________________
Cynthia
Back to Top View Cynamoats's Profile Search for other posts by Cynamoats
 



Sorry, you can NOT post a reply.
This topic is closed.


  Post ReplyPost New Topic
Printable version Printable version

Forum Jump
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot delete your posts in this forum
You cannot edit your posts in this forum
You cannot create polls in this forum
You cannot vote in polls in this forum

Powered by Web Wiz Forums version 7.9
Copyright ©2001-2010 Web Wiz Guide

This page was generated in 0.1094 seconds.

Copyright 1996-2016 CPAnet/MizWeb Communities All Rights Reserved
Twitter
|Facebook |CPA Exam Club | About | Contact | Newsletter | Advertise & Promote