First, you need a business entity that can facilitate investors- either a C corp. or an LLC that has sufficient stock or units to appeal to investors. Second, you need to comply with Califonia securities laws because your offereing is a security under California law. Third, you need to put together the appropriate prospectus that would appeal to investors, aka a really good investment opportunity!
Your question exceeds the scope of an answer that can be adquately provided on AVVO. You need...
You need have a consult with a tax attorney. What you posted is ill-advised because you are mixing concepts of profit and non-profit entities.
A profit making entity (smaill business) is for your beneifit. A non-profit entity is for either the benefit of the public or its membership, but you cannot have as its "non-profit" purpose you sole benefit.
Soliciting "donations" for your personal benifit is not only a profit making venture, it could also be deemed criminal. Statements like"I am...
Social security income is only taxable above a certain amount of income. Your parents income is probably not taxable if this is their only source of income. As for the tax credit, you need to have a tax preparer take a look at their entire filing situation for 2013 to determine if they will be entitled to any credits.
I have never known the FTB to purge its files. I have had cases going back to 1989, and the FTB provided me with tax returns forms for 1989 to assist in the preparation of the returns. Beyond 1989, it may depend on the taxpayer and the case. The FTB tends to keep files on nonfilers and tax protesters indefinitely.
In California, stock cannot be issued for no consideration. The issuance of the stock to the both of you was therefore void. HIre an attorney to document this. Pay for your stock, void the 60% stock issuance and have legal counsel provide you legal advice in the future before you engage in corporate transactions..
Phillip M. Smith Jr.
Los Angeles Tax and Business Attorney
If you have the tax returns, all scheudules (including Schedule A) should be attached to the tax returns. If the schedules are not attached, have the court order them to be provide to you. If you paid the tax preparer to prepare your tax tax returns, you should have received and/or can obtain a copy of the entire return which makes your question confusiing because tax preparers are required by law to provide you with a copy of the entire return.
You need to hire a divorce attorney if you...