jeudi 8 juin 2017

Guaranteed Payment and Taxes

I am a cofounder of a LLC. My partner and I each own 50% of the company. What we want to do is have my partner put $2,000/month into the company, and I will be paid a guaranteed payment of $2,000/month. At the end of the year (assuming we have made $0 revenue) I will take responsibility for 100% of the losses of the company. Therefore on my personal taxes, I will have $24,000 income and write off $24,000, and have net $0 resulting in $0 income tax. Is there anything wrong with this approach?


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