I have a family member who pays between $10,000 and $15,000 in federal income taxes each year and I was wondering how he/she could funnel money into my start-up business and get it back after filing taxes. Assuming they became a "member" of my business, which is registered as a domestic LLC under in the state of Georgia, please answer the above and the following.
What tax form must they file?
What purchases are 100% eligible and tax deductible?
Any other tax tricks?
Thanks!
2007-01-22
02:15:20
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2 answers
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asked by
drmiller
1
in
Business & Finance
➔ Taxes
➔ United States
NOTE:
The individual would not be investing liquid assets into the business. He/she would, however, spend his/her own money on capital resources (equipment, consumables, etc) and that's what I'm looking for him/her to get back and qualify as deductible.
2007-01-22
02:44:18 ·
update #1