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Business & farm
Thank you again. The situation is that I have an LLC - let's call it LLC B. Corporation A, who is LLC B's client pays LLC B. Then LLC B pays me a salary which is a sizeable portion of the earnings. The question is not about the salary, but the amount that the LLC retains above that salary -
(A) Does the LLC B have to pay estimated taxes on that amount, (which in my example was the $20,000) and
(B) Does that estimated tax have to be paid before LLC B gets that amount in its business account if it is invoiced but not "realized" (the funds are not yet there).
(A) Does the LLC B have to pay estimated taxes on that amount, (which in my example was the $20,000) and
(B) Does that estimated tax have to be paid before LLC B gets that amount in its business account if it is invoiced but not "realized" (the funds are not yet there).
May 31, 2019
5:34 PM