Most likely the company will bundle a number of leases and try to sell them for cash. This means you will have another leasor but the terms should...

I borrowed money from a friend and I can't pay them. Can the IRS consider the amount of the loan as income ?

Even though you have not paid the loan back, it is not necessarily cancellation of indebtedness income. Your friend could theoretically take...

I am a 49% owner in an llc without an operating agreement. How do I go about removing myself? My partner is a Canadian.

It may be more difficult than it appears. If there are no debts and obligations, you should consider dissolving the LLC. Please hire a good local...

Re: LLC shares, How would a current LLC in single ownership become a two ownership LLC with unequal shares.

Your attorneys should draft a new Operating Agreement. You can have two classes of membership interest. You can keep control while your son has an...

As a sole proprietor, I can't deduct SE tax. But of I have an S Corp, I'm the only employee, can I deduct the payroll taxes?

The result is the same. i suggest you talk to a good tax and business attorney about forming a LLC treated as a "disregarded entity" for tax...

I have blocked taxes on some of my payrolls in the past 6 months. Can I get in trouble for doing this, or be penalized?

Not a good idea! You can get your employer in trouble for under withholding and you are certainly violating your employer's trust. This could be...

Can I claim my daughter this tax season, even though our court order states it's his turn?

You should discuss this with a family law attorney. If you both claim your daughter, the IRS will audit both returns. This will cause you expense...

I got pulled over in my wife's car and didn't have my license on me. He gave me a tit for no drivers license what do i do?

Getting a good municipal court attorney will help you make sure things work out. Good luck!

How can I qualify for graduated C corporation tax rates, rather than PSC rates, if I provide accounting services?

I think the C corporation would have a lot of difficulties. First, you do not want your brother and sister-in-law to have any ownership interest...

Are we responsible for late mother/laws 2010 STATE tax shortage reported by IRS in 2014. She died 2013. We did not do return.

The ESTATE is potentially liable for the debts. please show this notice to your tax and estate attorney who is helping you with probating the...