Financing small business - how legal is this approach?

This is called an installment sale and is normal in small business acquisitions. The interstate could be deductible if your tax attorney sets it...

Do I need to create a company (S Corporation, LLC, etc.)?

Not for tax purposes. Nevertheless, a LLC would be wise for liability. Check with a good tax lawyer Good luck@

Should i classify my LLC as a corporation?

No. A LLC that is a Single Member Disregarded Entity for tax purposes is probably the best choice. You would be wise to retain a good tax and...

You can file one or two Schedule C. Whatever is easier

Will I be responsible for paying the taxes my husband owes from his LLC?

Yes, you will be liable. Please retain a good tax lawyer right away!

I discovered i owe back taxes after filing this years return, after the money i should have received was applied to that bill.

The IRS files returns for you known as SFRS. Immediately retain a tax lawyer to work to prepare the missing returns. Since it is more than 3 years...

What determines who pays the income tax on funds held in a joint savings account

From a practical standpoint, the bank usually will issue a 1099 2 the person who Social Security number is listed first. Therefore that is the...

Can I create an LLC or corporation with 2 foreigners?

Yes. You do not have to be a US Citizen or Resident to own a LLC or US business. There may be some tricky tax issues, so you need a good tax...

Llc requirements

You should have your attorney prepare the Articles of Formation to be filed with the State. Also, your attorney will prepare the Operating...

Taxes and a pain and suffering lawsuit

You should have a good tax lawyer review the settlement agreement to see whether the proceeds are taxable. It can be tricky. If you cannot find a...