Invoice: LLC Strategies
George Swanson owns a freight brokerage business that contracts with workers in Panama and Costa Rica. The business is a Florida LLC. Mr. Swanson has also established a Pennsylvania LLC and currently conducts business in Pennsylvania.
Mr. Swanson would like to minimize personal income attributable to him from these businesses, for tax and other purposes.
Mr. Swanson is seeking strategies for achieving this objective. One strategy might be to have the PA LLC acquire the FL LLC and act as a holding company for the FL LLC, the operating company. The PA LLC would pay George a salary but the profits of the FL LLC would remain in the FL LLC. Another strategy is to tax the FL LLC as an S Corp and pay yourself a salary out of the LLC. There are likely to be other strategies that should be explored for feasibility and effectiveness.
Finally, you are working on creating other new businesses and would like to use the same income-avoidance strategy for these businesses as you use for the freight brokerage business.
General Counsel Online will propose alternative legal and financial strategies for accomplishing your objectives. It will state what must be done to implement those strategies and will make recommendations for choosing among them. Based on your preferences and an accountant’s analysis, we will establish an implementation plan. Drawing up the legal agreements and state filings necessary to effectuate the plan are not part of this assignment and will be subject to a future agreement.
General Counsel Online will subcontract to and consult with an accountant to assist with this plan. The accountant’s fees are not part of the fees for this engagement. We will provide an estimate for the accountant’s fees in advance and obtain your approval before engaging the accountant. The fees will not be marked up.
We estimate that this effort will take at least 2 weeks after you engage General Counsel Online.
This Service Package is governed by the terms of the GCO agreement with your firm. You will agree to this contract and be provided with a copy at the time you order this Service Package. This Service Package adds the following additional terms and conditions:
The Service Package Fee is refundable upon your request until the services are rendered, less payment processing fees, which are on average about 3% of the purchase price. If services have been partially rendered, you are entitled to a reasonable partial refund. Refunds will be credited to the credit card that you used to purchase the Service Package.