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Eduardo Guillermo Sanchez

Eduardo Sanchez’s Answers

167 total


  • Is there a way to re-sell products in another country?

    Here is the situation. We are online supplement store. I want to sell particular brand lets say MuscleTech in my country(India). But MuscleTech has already a distributor assigned for whole India (and that distributor sucks). I never get deliveries...

    Eduardo’s Answer

    I agree with the previous posts. The general answer is you cannot get around an established exclusive distributorship agreement. That is why they are in place. The scenario that you mention is common. Many exclusive distributorship agreement have volume and service conditions to be met. Please contact a competent attorney that deals with international transactions.

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  • A long time friend of mine told me that she has not filed tax retuns in over 40 years.

    Now, she is going to retire and is afraid she wil not be able to get her social security checks. What can she do. Will she be arrested? Go to jail? What can she do about this at this late time in her life?

    Eduardo’s Answer

    Your friend needs to see a tax attorney as soon as possible.

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  • Last question everyone and thank you all for your help.. I have been married the entire 2012 year and we have always filed......

    our taxes married. Can my soon to be ex file seperate and really screw me? or is there a law against this. hope i finally get a little good news. thanks again everyone

    Eduardo’s Answer

    I agree with Attorney Nielson. You can only file (1) married filing jointly or (2) married filing separately.

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  • LLC Formation

    What needs to be recorded when forming an LLC in California? Must the operating agreement be recorded? If the operating agreement needn't be recorded, what does one do with it? Just store it somewhere? Thank you

    Eduardo’s Answer

    I agree with the previous posts. If the LLC is to hold real estate, then you would record the deed transferring the property to the LLC. Otherwise, in a standard LLC, nothing needs to be recorded.

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  • Trust Formation

    What needs to be recorded when forming a living trust? If nothing is recorded, all one needs to do is get the declaration of trust notarized and store it somewhere safe? Thanks

    Eduardo’s Answer

    I agree with the previous post. Usually, the items that are recorded are real property deeds. But, sometimes, powers also need to be recorded. Please seek the advise of a competent attorney to assist you with your trust. A mistake will cost you.

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  • Opening a business account in your name on behalf of another person

    I'm an American Citizen. A friend who does not have a SS#, does not live in the US and can't open a business account here wants me to open an account in my name where he can get revenue from his business deposited. He creates computer programs and...

    Eduardo’s Answer

    Your friend should form a corporation in the US (preferrably in a state that has no income tax). The corporation obtains the tax ID and your friend opens the corporate account here. A Non-US Resident can open a bank account. This avoids having you report all the income under your SSN and avoids any exposure to you for anything.

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  • Does a parent have to include you in their estate in order for you to receive their money?

    No further details

    Eduardo’s Answer

    The answer depends on what you mean by "include". If they do not specifically mention you in either a will or a trust, but state that all my children are to receive in equal shares, then you are "included" even though not specifically mentioned. If you parent dies intestate (without a will or trust), you will receive and be "included" under the laws of intestacy even though you were never mentioned.

    Also, sometimes a parent may name a child as a beneficiary of a life insurance policy or pension. Technically this passes automatically without an estate. If a parent has a joint bank account with a child, it generally passes to the child upon the parent's death, automatically. This again is outside an estate transfer.

    Please consult a competent attorney in Florida for specific questions.

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  • Can I be held liable, as a board member for a nonprofit, if the nonprofit is sued?

    I am a business owner, and have my own LLC. Recently, I was asked to be the Treasurer of a legal 501 (c) 3 organization. I am wondering if being the Treasurer and acting board member for the non-profit can affect my existing business (a completely...

    Eduardo’s Answer

    Directors and officers of a non-profit can be pernally liable for failure to meet their "fudiciary duty". Your LLC will not directly be at risk, but you personally may be. As treasurer you have a heighten duty of care over the financial affairs of the organization. I generally advise my clients not to act on boards of non-profits for this reason unless directors and officers liability insurance is obtained and if they are volunteering their services. California has a statue that provides that directors and officers who volunteer their services will not be personally liable for negligence if the organization has D & O insurance or attempted to obtain it, but could not obtain it. Get advise from a local attorney to see if this same rule applys in N.C.

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  • Filing tax married separate: What information do I need from the spouse?

    We are in divorce process and spouse is refusing to cooperate. Do I need anything other than the spouse's social security number in order to file married separate? I live in California and California is a community property state, so do I need any...

    Eduardo’s Answer

    You only need her social security number.

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  • Filing tax while undergoing divorce: spouse refusing to share information. what to do?

    I want to file tax as married joint or married separate but spouse is refusing to share ANY information with me for year 2012. spouse has a condo under her name. she is a w-2 employee, while im a self-employed sole prop. she refuses to work togeth...

    Eduardo’s Answer

    Make it simple. File married filing separately. You do not have her information and she might not want the joint and several liability for the joint tax return bill, if any.

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