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Business & farm
Is the LLC a Single Member LLC that you are reporting on Schedule C in your personal return? Or is it an S corp? You can invest or do whatever you want with the Net Profit. But that won't reduce the Net Profit on Schedule C. You can only deduct actual business expenses. You have to pay self employment tax on the net income in addition to your regular income tax on it. Sorry.
‎December 16, 2022
3:57 PM