tillieburke
Mar 11, 2012, 05:09 PM
I have a situation I need help on –
Company, Inc. Is owned by Charlie.
Charlie uses check from Company, Inc to use toward purchase of building for Company, LLC – owned by Charlie with a bank loan to LLC
How do I report on books?
How do I report to pay least amount of tax?
Can I make it a loan? Or Is it a advance of income?
Does it really matter as both Company, Inc. And Company LLC would show up on Charlie's tax return?
Please advise –
Thanks
Company, Inc. Is owned by Charlie.
Charlie uses check from Company, Inc to use toward purchase of building for Company, LLC – owned by Charlie with a bank loan to LLC
How do I report on books?
How do I report to pay least amount of tax?
Can I make it a loan? Or Is it a advance of income?
Does it really matter as both Company, Inc. And Company LLC would show up on Charlie's tax return?
Please advise –
Thanks