Can a new LLC opened in NJ transfer to an International ownership ?

International residents (individuals and businesses) are permitted to be owners of NJ LLCs. The process is to sell the Membership interests to...

Are there restrictions on how monetary gifts are spent?

An outright gift of cash can be spent as the recipient chooses. Nevertheless, the donor does not have to give another gift next year. Good...

Single member (member-managed) L.L.C. requirements

There is a difference between setting-up your business right and not. A good attorney will charge at least $1000 to $1500 to consult with you and...

I am forming an L.L.C. for a retail store.

Yes, you and your wife would be personally liable. Please go to a lawyer before you sign anything! Good luck in your new business! Ron...

What should I do , if anything , if a tax preparer misplaces my W2 and 1099s ?

First, do not worry. Tax preparers keep a copy in their files (many times they are scanned into the ta preparation program.) If the preparer cannot...

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Many Homeowners' Associations are charitable for Income Purposes and can accept deductible contributions. Please check with the attorney for the...

Real Estate Taxes

If you are insolvent at the time of the forgiveness of the indebtedness, the cancellation of indebtedness income would not be taxable. Presuming...

Tax...

The US taxes worldwide income of US citizens and residents. The interest earned on foreign accounts is simply added to the other income of the...

Need help getting taxes back

Sorry. Did you get a reason? If it is not legitimate, you may need to file a small claims lawsuit.In the future, you should get your tax return...

Can I operate without filing DBA ?

Please have your tax and business lawyer form a Limited Liability Company. It provides you a layer of protection that a sole proprietorship does...