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Showing content with the highest reputation on 09/02/2024 in all forums
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Ownership in multiple partnership and offset for losses
Luke Bailey reacted to RatherBeGolfing for a topic
Looks very straightforward to me. You use the K-1 for ABC LLP. You don't include comp from unrelated businesses.1 point -
Employer contribution credit - owners only
Luke Bailey reacted to RatherBeGolfing for a topic
I agree. The startup credit references NHCEs, but the contribution credit references "employees making less than $100,000". As far as I can recall, owner-employees making less than $100,000 are not treated any different. The ACA credit of $500 has no NHCE or income restriction, and is available for all plans including one participant owner only plans.1 point
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