Quote:
Originally Posted by BlkGS
I don't need to, the IRS has rules for that.
A good rule of thumb is, if the LLC is taking in more money from its owner than from revenue, it's probably a scam, though admittedly I think the IRS does allow for that to happen for like 2 years or so. I dunno the specifics, I'm not an IRS lawyer or a tax accountant.
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You do realize these LLCs are setup as holding companies for assets not operating companies. Every major corporation has holding companies setup in specific states that gives them the greatest tax and liability protection.