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Tavo
Level 2
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  • Thank you for your help! I think I figured this out. It boils down to this: an LLC with only one member is treated as a sole proprietor for tax purposes, so in ...
    Tavo
    1
    Oct 16, 2020
  • The 1099 comes in under the EIN # of the limited partner, who is registered as an LLC with the IRS....not under the partnership's. He then makes a 1099 for the ...
    Tavo
    3
    Oct 16, 2020
  • They own a Granite installation business and both work, so they haven't been running things like a partnership, and no, they don't have a partnership checkbook....
    Tavo
    5
    Oct 16, 2020
  • I have a client who is the only General Partner of a Partnership and his partner is the Limited Partner, however, since they registered the company 3 years ago,...
    Tavo
    7
    Oct 16, 2020
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Member Since ‎10-16-2020
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