Phillip Monroe Smith’s Answers

If you filed tax returns in California as a joint, then you are jointly liable for the tax. California is a community property state which means you and you ex are jointly liable for the tax. Residency is not the issue. The fact you filed jointly in California with a resulting tax debt creates the joint liablity. Good luck! Phillip M. Smith Jr. Los Angeles Tax & Business Attorney Call: 855 IRSTAXBIZ

If you do not want you mother to have any legal problems don't involve her because your creditors could allege that you are engaged in fraudulent conveyances to defraud them. Remember that you cannot bK out of fraud. Be careful about your transfers and employ a bk attorney early to insure you are making legal decisions. You have not provided me with enough information to determine which entity you should choose. Good luck! Phillip M. Smith Jr. Los Angeles Tax & Business Attorney Call:...

This is not a question that can be answered on AVVO. Contact the IRS Refund Hotline which can be found at www.IRS.gov because the IRS will compute your penalties and interest and determine if you are entitled to a refund. Good luck! Phillip M. Smith Jr. Los Angeles Tax & Business Attorney Call: 855 IRSTAXBIZ

You can convert an LLC in California to a C corp. The question is whether the C corpo. will pay more (or less) tax than than the LLC. You are currently paying the max LLC fee on your gross receipts to the state of California, and I am assuming that you would like to reduce this. You need to compare this to what you will be paying on to the IRS and California as a corporation in order to determine your tax savings. Have your accountant run tax projections and determine your best course of...

You have not clearly indicated the nature of the returns that you need to file. Are you in business? It appears that you were based on your failure to file you 1099's for your contractors. Will you have a schedule C on your return or do you have an LLC? You should immedialtly file your state return with the federal return attached whether or not you have filed the federal return. Most computer programs do not allow you to prepare a state return without processing the federal return, so you...

Read the local rules and also check with your judge's clerk to determine if this particular judge has any special rules and filing requirements. Also don't forget to check the filing requirements for motions in limine.

You should have minutes of the Board accepting her resignation as a board member, and an officer in corp. This assumes that she is an officer and a board member. The corporation should redeem her shares with a redemption agreement. See a business attorney to properly document these transactions. Good luck! Phillip M. Smith Jr. Los Angeles Tax & Business Attorney www.culvercitytaxandbusinesslaw.com www.corporateattorney.com Call: 323-292-4116 or 562-505-1004

This is what should happen. You can always call the IRS ask them what will happen by calling 800-829-1040.

Where a corporation wants to issue additonal shares to an employee, the starting point is to determine if the corporation has any stock to issue a new shareholder. Authorized shares that have not been issued are necessary in order to have shares to issue your daughter. If there are no authorized shares, you would have either 1) sell your daughter some of your shares or 2) cause the corporation to authorize more shares. Selling your daughter some of your shares based on what proportion of shares...

Securties offerings should not be made by inexperience lay people. This is a complex area of the law with significant fraud implications, tax implications, contract implications, and corporate law requirements. Get a consult from an attorney before you consider embarking on a personal disaster. Good luck! Phillip M. Smith Jr. Los Angeles Tax & Business Attorney Call: 855 IRSTAXBIZ