Guest guest Posted November 8, 2006 Report Share Posted November 8, 2006 Dear Group, I have a question for those of you who are LLC's filing as Sub Chapter S Corps. We are planning on incorporating and applying next year. We are also planning to become the Non Profesional Corp. I have these specific questions: 1. Salaries - Our accountant advised us to set salary at the fair market value. How do you determine the fair market value? In addition, are there red flags for going too low? Currently we are operating as a sole partnership LLC with profits going to the PT who is the chief therapist and owner. 2. Are there any transitional problems that we should be addressing now? 3. How and where do you incorporate? We are located in Monroe, Michigan. 4. Will our EIN number change? 5. We would also like to set something up so that rent could be paid by the corp. to the LLC. Is this possible? If so, how? Feel free to call me or email me directly if you wish, Thank you for your assistance, Lori Holistic Physical Therapy LLC 149 Lincoln Avenue Monroe, MI 48162 HPTLLC@... Phone Fax Quote Link to comment Share on other sites More sharing options...
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