Your wrong on that one. If the LLC shows income of $50,000 no matter if it pays its members all of it in salary or none of it, it is still $50,000 in income and is taxed as that. The LLC does not pay any taxes on that $50,000, the members do. So if it is given as a salary, that salary is taxed on the member. If it is profit, it is profit to the member and is taxed as such. I've been in an LLC for the last ten years and it has never paid any taxes. As a member I do though. It all gets sorted out in the K1's that the LLC must file with the IRS.
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Today's Featured Article - Hydraulics - Cylinder Anatomy - by Curtis von Fange. Let’s make one more addition to our series on hydraulics. I’ve noticed a few questions in the comment section that could pertain to hydraulic cylinders so I thought we could take a short look at this real workhorse of the circuit. Cylinders are the reason for the hydraulic circuit. They take the fluid power delivered from the pump and magically change it into mechanical power. There are many types of cylinders that one might run across on a farm scenario. Each one could take a chapter in
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