Owneship Stake LLC Tax Implications

Tax Strategies
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  1. I have an LLC s-corp set up in TN. Held by my Trust. (all because of you guys-Thank you!)
  2. I receive management fees ($100K+) to my s-corp from a multi-partner LLC, in which I also hold a 20% stake.
  3. Also, the multi member company will show a profits of say $2 million this year.
  4. 2023 will be the first year at this income level.

Question 1 :
Can you (simply) explain what general tax implications should I expect?

Question 1A:
Pleasssse! Can you (simply) explain how the flow of this money and the tax burden from the multi-partner LLC profits should be handled?

Big Thanks,
Darren

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Covered on today’s show. 12/15/22. Thanks for the post! Please share and give us a 5 Star on your favorite portal if you would. Thanks again and please continue to listen. Mark.