Hi Guys, We setup a 3 member LLC thru KKOS and have all the services through your MainStreet Business. We are a broker that sells to wholesale (Costco, Sam’s). In order for us to acquire a customers we had to sell a years worth of product, they (new customer) had to pay to pervious broker to cancel their agreement. It took us almost a year to sell the product and would have earned about 180k. Since we did the work and will not be receiving that income, what would you advise on ways to write off the 180k.
Each member sold different amounts to get to cumulative total and each member should receive their respective deduction based on commission they would have earned but please correct me if I am wrong.