Hi Mark and Matt
I’m a frequent listener and have not heard an answer to the following question:
I have a couple LLCs operating rental properties. One of the LLCs my adult children have partial ownership in, other LLCs they do not.
When my adult children travel to the rental properties to work can I reimburse their mileage? If so are they taxed on business travel reimbursement? How should I reimburse them for expenses in both scenarios, one where they have approx 5% ownership and the other they do not have any ownership.
Looking forward to the answer!
Sharyl