Reference business entity tax structure

Justin's businesses file as two tax entities:

WIEB S-corp group (Form 1120-S): - Wiebelhaus Enterprises (WIEB) is the S-corp. - JustinWieb-VR (JWVR), Nova Design (NOVA), and Sip-N-Serve (SIP) are single-member LLCs owned by/under WIEB. They are "disregarded entities" for tax purposes — their income and expenses consolidate up into the WIEB S-corp return. Treat them as divisions of one tax entity, not four separate ones. - Money in = S-corp shareholder contributed capital. Money out = S-corp distributions to Justin. - ERPNext is structured to match: WIEB as group parent, brands as children.

Gus Outdoor Co (GOC) — standalone partnership (Form 1065): - Separate from the S-corp group entirely. - 60% Justin / 40% Michael (K-1s to each). - Has its own equity, draws, and partner capital tracking.

Why this matters for bookkeeping: - Opening balances, owner draws, and equity splits for JWVR/NOVA/SIP are really S-corp shareholder entries, not brand-level capital. - GOC partner capital (Michael's contributions, Jerry loan) is tracked separately and never rolls into the WIEB group. - Confirmed by Justin 2026-06-09 during ERPNext migration advisory session.

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