All Forum Posts by: Oshi Jain

Thanks Teri/Linda - Good information from both of you ! We are thinking of treating our LLC as S Corp for tax purpose and run payroll for 2 active members so other silent members won't have to pay self employment tax every quarter. At the end of the year all members will pay tax as per K1. Not sure if there is a minimum % or $ amount of each payroll we must have for this structure ? Please advise.

We are creating an new multi partner LLC for Flipping business(8 partners total, 2 partners will be active). We are looking at doing 2-3 Flips in first year. Is Flipping considered as active or passive like rental ? and do all the partners need to pay quaterly self employment tax for it ? I checked with several CPAs and getting conflicting answers. Most are saying we will have to pay Self-employment tax which couple of them are saying we don't have to. If you can share your thoughts that would be great.