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If I make an LLC and transfer 100k into bank account for it is there a tax penal

ty
Ghostface Billah
  11/09/18
Bump
Ghostface Billah
  11/09/18
No.
..,.,.,.,.,..,,,,,...,.,.,...,..,.,,,,,,
  11/09/18
there's no tax penalty for the act of contributing equity to...
Wilbur Mercer, the supreme gentleman
  11/09/18
Why don't people do this to get around gift regulations
Ghostface Billah
  11/09/18
...
Ghostface Billah
  11/09/18
You mean like giving $10k to a kid directly, and then capita...
..,.,.,.,.,..,,,,,...,.,.,...,..,.,,,,,,
  11/09/18
Just form an llc in kids name and transfer $ to the bank acc...
Ghostface Billah
  11/09/18
This is what people use trusts for. LJL @ paying $800 / year...
..,.,.,.,.,..,,,,,...,.,.,...,..,.,,,,,,
  11/09/18
Its like 80 bucks
Ghostface Billah
  11/09/18
Depends on the state. Trust still makes more sense. Esta...
..,.,.,.,.,..,,,,,...,.,.,...,..,.,,,,,,
  11/09/18
Can you expense shit from a trust
Ghostface Billah
  11/09/18
You can't expense shit from an LLC that you're using just fo...
..,.,.,.,.,..,,,,,...,.,.,...,..,.,,,,,,
  11/09/18
Watch me
Ghostface Billah
  11/09/18
$450 in Delaware $300 to Delaware + ~$150/yr. for a "...
I said RESEMBLE monkeys
  11/09/18
sounds like you want to put in $100k but let your kid and yo...
Marty McFly's Japanese truck
  11/09/18
...
Ghostface Billah
  11/09/18
Depends. How much more money do you need to launder?
XIV
  11/09/18
tax penalty? no. ass-pounding penalty in pelican bay? yes
chill im a nice person! i just hate everybody
  11/09/18
Explain
Ghostface Billah
  11/09/18


Poast new message in this thread



Reply Favorite

Date: November 9th, 2018 1:30 PM
Author: Ghostface Billah ()

ty

(http://www.autoadmit.com/thread.php?thread_id=4128810&forum_id=2#37198117)



Reply Favorite

Date: November 9th, 2018 1:31 PM
Author: Ghostface Billah ()

Bump

(http://www.autoadmit.com/thread.php?thread_id=4128810&forum_id=2#37198131)



Reply Favorite

Date: November 9th, 2018 1:31 PM
Author: ..,.,.,.,.,..,,,,,...,.,.,...,..,.,,,,,,


No.

(http://www.autoadmit.com/thread.php?thread_id=4128810&forum_id=2#37198136)



Reply Favorite

Date: November 9th, 2018 1:32 PM
Author: Wilbur Mercer, the supreme gentleman

there's no tax penalty for the act of contributing equity to an LLC

(http://www.autoadmit.com/thread.php?thread_id=4128810&forum_id=2#37198139)



Reply Favorite

Date: November 9th, 2018 1:32 PM
Author: Ghostface Billah ()

Why don't people do this to get around gift regulations

(http://www.autoadmit.com/thread.php?thread_id=4128810&forum_id=2#37198141)



Reply Favorite

Date: November 9th, 2018 1:57 PM
Author: Ghostface Billah ()



(http://www.autoadmit.com/thread.php?thread_id=4128810&forum_id=2#37198336)



Reply Favorite

Date: November 9th, 2018 1:58 PM
Author: ..,.,.,.,.,..,,,,,...,.,.,...,..,.,,,,,,


You mean like giving $10k to a kid directly, and then capitalizing another $10k into an LLC and then having the LLC gift it to the kid?

(http://www.autoadmit.com/thread.php?thread_id=4128810&forum_id=2#37198348)



Reply Favorite

Date: November 9th, 2018 1:59 PM
Author: Ghostface Billah ()

Just form an llc in kids name and transfer $ to the bank account llc has

(http://www.autoadmit.com/thread.php?thread_id=4128810&forum_id=2#37198352)



Reply Favorite

Date: November 9th, 2018 2:00 PM
Author: ..,.,.,.,.,..,,,,,...,.,.,...,..,.,,,,,,


This is what people use trusts for. LJL @ paying $800 / year to keep an LLC up.

(http://www.autoadmit.com/thread.php?thread_id=4128810&forum_id=2#37198359)



Reply Favorite

Date: November 9th, 2018 2:13 PM
Author: Ghostface Billah ()

Its like 80 bucks

(http://www.autoadmit.com/thread.php?thread_id=4128810&forum_id=2#37198404)



Reply Favorite

Date: November 9th, 2018 2:14 PM
Author: ..,.,.,.,.,..,,,,,...,.,.,...,..,.,,,,,,


Depends on the state.

Trust still makes more sense. Established law around it for these purposes.

(http://www.autoadmit.com/thread.php?thread_id=4128810&forum_id=2#37198407)



Reply Favorite

Date: November 9th, 2018 2:16 PM
Author: Ghostface Billah ()

Can you expense shit from a trust

(http://www.autoadmit.com/thread.php?thread_id=4128810&forum_id=2#37198415)



Reply Favorite

Date: November 9th, 2018 2:18 PM
Author: ..,.,.,.,.,..,,,,,...,.,.,...,..,.,,,,,,


You can't expense shit from an LLC that you're using just for personal expenses.

(http://www.autoadmit.com/thread.php?thread_id=4128810&forum_id=2#37198429)



Reply Favorite

Date: November 9th, 2018 2:19 PM
Author: Ghostface Billah ()

Watch me

(http://www.autoadmit.com/thread.php?thread_id=4128810&forum_id=2#37198436)



Reply Favorite

Date: November 9th, 2018 2:16 PM
Author: I said RESEMBLE monkeys (You remain a filthy liar, and nothing will ever change that)

$450 in Delaware

$300 to Delaware + ~$150/yr. for a "Registered Agent"

only thing the "Registered Agent" does for me is put my Delaware tax bill into an envelope and mail it to me

(http://www.autoadmit.com/thread.php?thread_id=4128810&forum_id=2#37198414)



Reply Favorite

Date: November 9th, 2018 2:04 PM
Author: Marty McFly's Japanese truck

sounds like you want to put in $100k but let your kid and you split the capital and profits 50-50.

parntership capital shifting is a thing--not sure but assume it can be a gift or just plain old taxable income

(http://www.autoadmit.com/thread.php?thread_id=4128810&forum_id=2#37198374)



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Date: November 9th, 2018 2:14 PM
Author: Ghostface Billah ()



(http://www.autoadmit.com/thread.php?thread_id=4128810&forum_id=2#37198405)



Reply Favorite

Date: November 9th, 2018 2:09 PM
Author: XIV

Depends. How much more money do you need to launder?

(http://www.autoadmit.com/thread.php?thread_id=4128810&forum_id=2#37198393)



Reply Favorite

Date: November 9th, 2018 2:16 PM
Author: chill im a nice person! i just hate everybody

tax penalty? no. ass-pounding penalty in pelican bay? yes

(http://www.autoadmit.com/thread.php?thread_id=4128810&forum_id=2#37198419)



Reply Favorite

Date: November 9th, 2018 2:21 PM
Author: Ghostface Billah ()

Explain

(http://www.autoadmit.com/thread.php?thread_id=4128810&forum_id=2#37198441)