Legal Question in Business Law in Indiana
Limited Liability Corp
My parents are interested in
putting some money towards my
company. I was wondering which
is better for the company,
investment, loan, or gift? (They
aren't eligible for the write-off on
their taxes for a gift so they don't
care how it is done). Also, what
federal forms would be needed for
this?
Asked on 4/13/09, 1:37 pm
1 Answer from Attorneys
Burton Padove
Indiana and Illinois Lawyer, Burton A. Padove
Re: Limited Liability Corp
You would be better served by talking with an accountant. Investment, means they are partners with you. Loan means your LLC owes the money. A gift, leave you with out a partner or liability.
Answered on 4/13/09, 2:41 pm
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