Converting firm from partnership to LLC. Taking questions for a few minutes
| '''"'''""' | 09/28/24 | | Lionel Tiger | 09/28/24 | | '''"'''""' | 09/28/24 | | nk | 09/28/24 | | '''"'''""' | 09/28/24 | | nk | 09/28/24 | | '''"'''""' | 09/28/24 | | '''"'''""' | 09/28/24 | | Live Free or Die. | 09/28/24 | | '''"'''""' | 09/28/24 | | '''"'''""' | 09/29/24 | | '''"'''""' | 09/29/24 | | michael doodikoff | 09/29/24 | | michael doodikoff | 09/30/24 | | ,.,..,...,..,..,,,,.,.,.,.,,., | 10/02/24 |
Poast new message in this thread
Date: September 28th, 2024 4:04 PM Author: '''"'''""'
I’ll have 25 percent of shares. We have to pay prior firm owners $3 million from operating accounts back over the course of 5 years. The numbers look decent.
Anyways, I’ll be making more $$ even in bad years. Will probably just draw against the anticipated year end profits just like salary, pay taxes on it thru S Corp style, then get big “bonus” at the end of the year when we split profits. We have some good cases lined up for 2025 etc.
Some years it has been 4 million profit left at the end of the year even after routine salary-like draws throughout the course of the year.
(http://www.autoadmit.com/thread.php?thread_id=5602798&forum_id=2\u0026mark_id=5310919",#48140836) |
|
Date: October 2nd, 2024 11:17 AM
Author: ,.,..,...,..,..,,,,.,.,.,.,,.,
Good advice!
Maybe I'll buy a giant saltwater fish tank with all the extra cash coming in. I can relate it as therapy/treatment for PTSD I've acquired from xo.
(http://www.autoadmit.com/thread.php?thread_id=5602798&forum_id=2\u0026mark_id=5310919",#48154695) |
|
|