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    2 Replies Latest reply on Jun 30, 2009 1:30 PM by bm911tax

    LLC Profits

    acejohnr Newbie
      I was wondering if I can take LLC profits as Divdend income instead of regular income? If I can do I need to do anything special to do this?
        • Re: LLC Profits
          LUCKIEST Guide
          LLC Profits, Welcome

          Who are you?? go Members page and share some info.

          why would you want to take profits as dividend income??

          Do you have an accountant??
          • Re: LLC Profits
            bm911tax Adventurer
            It all depends on how is your LLC setup. If you are a single member LLC then you would file Sch. C of 1040. In that case you CAN'T take any dividents, but if your LLC is setup as S Corp then you might be able to take dividents and distribution, and if its done correctly you can save $$$ on taxes.

            Ben
            www.taxbizpro.com

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