Insurance premiums for an S-corp shareholder are deductible to the business (employee benefits OR insurance expense) and should be added to the W-2 as compensat...
Use the class feature for properties. this gets you the profit/loss by class (property) report, which is very useful.Units (if any) are "customers" and then ten...
If you have multiple LLC's, then you will have multiple bank accounts, multiple tax ID numbers, etc. The problem is not with the income/expense side, which can ...
It sounds like you set up a separate G/L Account for each property.then you also set up a class for each property.If yes, then I would suggest that you merge th...
You should never take distributions in excess of basis. And you (or your CPA) should be tracking basis carefully.Generally if a shareholder takes dist in excess...
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