Question: I am buying a minority interest in a three member limited liability company which owns appreciated real estate. If the property is sold, will I be taxed on the appreciation that occurred prior to my purchase?
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Question: I operate a business as a limited liability company which I am considering converting to an S corporation given the recent increase in the Social Security wage base. I am not certain I want to forego the liability protection I enjoy from limited liability company status but do not want to pay more payroll taxes than I am already paying. Is there a preferable alternative?