marshmallowmoon
Junior Member
Employees work for LLC, clock in and out for LLC, and receive pay for those hours from LLC. P.C. private corporation principal pays employees a separate salary for performing as personal assistants to manage family matters, personal expenses, banking, etc. There is no differentiation of time spent working for the P.C.; no clocking out from the LLC to set apart the pay. There is no contractual agreement with the LLC to allow a shared salary. All overhead is covered by the LLC. P.C. reports overhead expenses not incurred by P.C., but paid by LLC.
Is that allowable as far as tax law is concerned?
Is that allowable as far as tax law is concerned?