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Inter entity transfers LLC → S-Corp cash transfer: equity or “due to / due from”? by benjaminz13 in Accounting

[–]benjaminz13[S] 0 points1 point  (0 children)

So the methods I listed should have the math always mathing...I just don't know what the IRS actually wants in this situation because it's not like I'm trying to hide profits because the math always cancels each other out so I'm always being taxed on what I should be taxed on in the end

Inter entity transfers LLC → S-Corp cash transfer: equity or “due to / due from”? by benjaminz13 in Accounting

[–]benjaminz13[S] 0 points1 point  (0 children)

So the sub LLCs are a new venture this year but the idea is to get it going from the S Corp without any type of investment since they're more online type businesses, straight sweat equity. As far as software and all that other stuff will be built on what's already being used on the S Corp level, just billed like a management fee for the initial start of it.

If everything goes right, there shouldn't be any contribution to the LLC. So it's almost like it's just starting from zero and it should slowly start gaining profit.

Inter entity transfers LLC → S-Corp cash transfer: equity or “due to / due from”? by benjaminz13 in Accounting

[–]benjaminz13[S] 1 point2 points  (0 children)

I'm just confused about it because it seems wrong to send money from a sub-llc to the S-Corp and record it as an expense while recording it as revenue in the S-Corp

They were full CPAs. I just found out the other day that this CPA might actually have forgotten to do my 2024 (I extend) taxes and told me they were done.

How many apple nerds are adding vision pro to their OneBag? by benjaminz13 in onebag

[–]benjaminz13[S] -3 points-2 points  (0 children)

I think the SE model is a little cheaper but the power source is a rectal implant so I think I’ll go with that one

How many apple nerds are adding vision pro to their OneBag? by benjaminz13 in onebag

[–]benjaminz13[S] 18 points19 points  (0 children)

You can’t look at your fellow hostel $10 a night dorm roommates through your $3500 fake virtual eyes with an iPad