Can I file taxes for my daughter who is a felon and has lived with us since her release?

Your daughter should have her own tax return prepared. Even though she has lived with you, it does not sound like she is a dependent. I suggest...

My initial responses that I do not care for having an S election in an LLC. This is generally not a good idea and particularly when it is dealing...

Is it legal to impose a non compete clause to a sweat equity partner in a business in New Jersey?

You can have a noncompetition clause in the Operating Agreement of your LLC. You should also have other sections restricting the transfer of...

Given equity (5%) in a small company in lieu of payment for services rendered, do you assume any responsibility of legacy debt?

No, normally you would not personally assume the debt of the LLC just by having an ownership interest. Nevertheless, the value of your interest is...

We got married 12/2/17. my spouse is out of work with no income and we have two dependents how should I file?

Remember, as long as you are married on December 31, 2017, you will be considered as married for the whole year. Therefore, your only options are...

Grandfathers trust after he passed....QUESTION?

First, this is a no-win situation for you because even if you are correct, you will have to deal with your wife and mother-in-law. The smartest...

If my husband and I are starting an LLC what benefit would we get from him being owner and me manager vs. both partners/ owners?

First, I like the idea of just having either you or your husband as the sole member of the LLC. This will save you in the tax preparation process...

What sorts of forms do I require to begin an after-school program for martial arts school?

Most likely, you will want your attorney to form a LLC. You will also need municipal approvals for planning and design of the space. Good luck...

Do loans from friends or family have to be included as income on taxes?

Loans are not taxable income when received and repayment of principal is not a deductible expense.

OUT-STATE BUSINESS IN NEW JERSEY AND INDIANA

Go to a different bank! You do not need or want to be registered in Indiana if you are doing business in NJ. It should not be a problem to open a...