Patrick,if you are taking a distribution from your inherited IRA - you will be taxed on the entire distribution amount.

(I've only just become aware of his clout/non-clout around the corridors of power).It came to my attention that he believes that January 1, 2018 is going to be the day that the next phase of their plan will be put into motion, and (from what I've read) he reckons there's nothing the President can do to stop Countries from diversifying away from the US dollar (into Distributed Ledger Technology).What say then the USA about their strategy of "quantitative easing", if that happens?

., process the incoming money from investors, track capital accounts, handle all the distributions, do tax returns, wind down the fund, etc.)?

It is the only entity structure whose rules allow the business owner to take a “reasonable salary” (subject to social security and medicare) and then take the remaining profit (often as much as 50% of the remaining income) out as distributions not subject to self-employment taxes.

I own hundreds of properties & still do not derive the majority of my income from them.

I am on the verge of taking the plunge in REI here in Austin, Tx and wanted to introduce myself and perhaps find a few folks to distribute risk as we learn this process together; primarily buy and holds.Currently, I work for a LARGE warehouse lender, specializing in risk mgmt, rate pricing, and hedging strategies.

If the partnership agreement allocates all economic gains, losses, and distributions 50/50 between the two partners, it cannot allocate tax items differently. 

Just write checks to myself as "distributions" from my LLC business bank account?  

This would be my first house flipping business venture so I thought I’d give him some incentive to partner with me more than the accepted distribution.

I have hired a CPA firm, but was told the remaining questions I have are for Payroll processors or HR experts and not CPAs.My wife is the sole-owner of the S-Corp, but will also be the sole employee (as she has to pay herself a reasonable salary prior to K-1 profit distribution).