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Richard D Ackerman

Richard Ackerman’s Answers

6 total

  • How can I protect myself for the years my name was included on a DBA when I thought my name had been removed?

    Several years ago I left a business in which my name was on the DBA. At the time I removed myself from the bank account, I believed the other partner was refiling the DBA, however I now discover that the DBA was never refiled even after several re...

    Richard’s Answer

    I agree with Mr. Fink. Also, I would send a very strongly worded letter to the old partner informing them of and memorializing your date of separation. If it was a true partnership, getting a formal certificate of dissolution filed with the Secretary of State would also help in this regard. Also, if there is an errors and ommissions policy, you may be able to purchase a gap policy that covers you from the time of any old insurance till now.

    This response does not constitute legal representation in this matter. It is only designed to help you think about possible solutions. You should hire counsel immediately to ensure that you are in compliance with any limitations periods on possible claims or for further action on the concerns you raise. Best of luck to you.

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  • What is good advertising for a cosmetic company?

    What is good way of advertising for a cosmetic company?

    Richard’s Answer

    I agree with the attorney above. You should contact an advertising professional who is familiar with your line of products or type of business. As indicated, make sure that all advertising is truthful as to any characteristics of your products, availability of product, store hours, etc. You may also want to look into some of the various internet advertising mechanisms such as Google Adwords, Yahoo, Facebook, MySpace and other advertising media where you can pay as you go.

    Wishing you the best with your venture.

    This does not constitute a legal opinion on any specific matter and you are advised to seek counsel concerning any legal issues that you may have.

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  • How to add another officer to a nonprofit corp and wich form to fill out temecul

    we are a brand new nonprofit corp, we have the 3 main directors we want to add 1 or 2 more

    Richard’s Answer

    I think that Mr. Fink's answer is exactly correct and make sure that you do a proper vote and meeting per existing bylaws -- if they do not already provide for more than 3 directors. If the bylaws do not limit the number of directors, then you just need to go through whatever appointment process you have and file the statement of information with the Secretary of State. Also, make sure to hire an attorney that is familiar with 501c3 organizations for compliance issues. If you are in the process of getting your exempt status, make sure that your 1023 application is consistent with what you are doing to change the number of directors. See, http://www.irs.gov/pub/irs-pdf/f1023.pdf .

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  • Can you divide a C-Corp using a DBA for tax purposes in another county?

    Can you divide a C-Corp using a DBA for tax purposes in another county? I want to be able to divide a C-Corp into half..one partner goes way direction and another partner goes another direction, I wanted to know if that is legal.

    Richard’s Answer

    The whole purpose of having a corporation is to avoid internal competition, to promote shareholder unity and profit, and to maintain a single umbrella for liability protection purposes. Having an existing shareholder do his/her own thing exposes both shareholders to more liability and would certainly create uncertainty as to what the other was doing. Most often, the things we don't know about are the ones that create the biggest problems. The better solution would probably be to mediate a solution between the existing shareholders or dissolve the corporation and have everyone start fresh. Obviously, this is general advice and you should speak to an attorney who does business law to get more specific information on what to do.

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  • Can i file bankruptcy even when i have a partner thet doesn't want me to do it I'm not making any money with this business.

    I have a small business ,but i don;t make any money ,what can i do when i already ask my partner if she wants to buy my part ,she do not want to ,but she doesn't want me to sell my part to any body else ,also i have a lease contract , i don't make...

    Richard’s Answer

    Sounds like you may need to force the issue by filing a personal bankruptcy if that is possible and list all creditors of the business since you may be potentially liable for any personal guarantees, etc.. There is an involuntary process available, but that could be costly. The bigger question revolves around why it is that the partner would care about who you sell to (if, in fact, the business is making no money). Make sure to get an attorney with both business and bankruptcy experience and do so quickly. A consultation should cost you between $100-200 for an hour or so.

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  • I want to buy a tanning salon

    I want to buy the tanning salon I currently work for. I think the owner may be behind on taxes. If I can assume the current lease, can I do so, change the name of the salon and do business under the new name? This way the owner can dissolve the b...

    Richard’s Answer

    It would depend on whether or not corporate entities are involved and whether the taxing agency imposes what is often known as "successor liability." There is also the possibility of having some kind of indemnity provision as to seller (in the event that the taxes should be imposed anyway). The problem, however, is that once the transaction is completed, the buyer will be difficult to go after for any money that you could possibly end up owing. Also, the fact that taxes are owed suggests that the profit margin is slim or 'in the red.' Be careful! Finally, make absolutely sure to find competent business counsel and make sure that you have a sound purchase agreement if you must go through with this proposed transaction.

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