We have several rental properties we are looking st putting into an LLC because of the new tax law tha will deduct 20% of the income.
Our questions are:
1. Can we make our children X% owners, if so do they have to work or can they just be partial owners?
2. If they can own, when they receive money from LLC will it be considered earned income for the purposes of a Roth IRA?
3. If the income doesn’t qualify, would a bonus qualify as earned income?
Thanks!