Question
John operates a Limited Liability Company, Unity Landscaping, LLC., and has earned $100,000 in gross revenue for 2019. There are 2 members; John and Mike,
John operates a Limited Liability Company, Unity Landscaping, LLC., and has earned $100,000 in gross revenue for 2019. There are 2 members; John and Mike, and each are equal owners.
Sally operates a corporation, United Help, Inc., and has earned $80,000 in gross revenue for 2019. Sally is the sole owner.
It is now time for both to handle their taxes but they are unclear on how the structure works and how they handle their taxes for the companies. The business tax rate is 28%, and the personal tax rate is 25%. Calculate the taxes for the owners and companies so they can all know and understand their taxes:
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Commercial Energy Auditing Reference Handbook
Authors: Steve Doty
2nd Edition
1439851972, 978-1439851975
