Profit allocations in Limited Liability Companies. Kiritsis Law Group 212 922 0005
Jun 12, 2021
One of the most confusing aspects in managing the day to day, as well as, the long term legal affairs of an LLC is that of profit allocations. What are an LLC's profit allocations? Simply put, a profi...
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LLCs taxed as Corporations. Law Offices of Kiritsis & Associates 212 922 0005
Jun 12, 2021
The complete dichotomy between federal tax classification and State legal entity law, has allowed for LLCs to be allowed to elect corporate tax treatment. Broad Overview. There is no federal incorpora...
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LLCs taxed as disregarded entities. Law Offices of Kiritsis & Associates 21`2 922 0005.
Jun 12, 2021
A common misconception about LLC (Limited Liability Company) disregarded entities, is that they are the functioning equivalent of a solo proprietorship. Major Points It is of paramount importance, to ...
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LLCs taxed like partnerships. Kiritsis Law Group 212 922 0005
Jun 12, 2021
It is important to note that LLCs are not partnerships per U.S. tax law, but rather taxed like a partnership. LLC stands for Limited Liability Company. Key Concepts. Partnership taxation is mostly dic...
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What are self-proving affidavits on New York Last Will and Testaments?
Jun 04, 2021
A unique New York legal quirk, as it pertains to the practice area of Last Wills and Testaments are Self-Proving Affidavits. General Overview. It is basically a document, that is signed before a notar...
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Duty of financial disclosures in prenuptial and postnuptial agreements in New York. Kiritsis Law
May 07, 2021
One of the most common reasons for have prenuptial and postnuptial agreement become legally invalidated/challenge, is due to inadequate financial disclosure by one or more of the parties. Why is the f...
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How can prenup/postnup agreement protect one's earnings during marriage? Kiritsis Law 212 922 0005
May 07, 2021
Earnings during marriage may be sufficiently protected through a properly drafted and well planned out marital contract, such a prenuptial and/or postnuptial agreement. Governing laws are the start. T...
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How are prenuptial / postnuptial agreements legally valid in New York? J.Kiritsis, Esq. 212 922 0005
May 07, 2021
Believe it or not, the legal consensus nowdays, is that prenuptial/postnuptial type of agreements, tend to bolster (not weaken) the institution of marriage. Long standing public policy prohibitions. F...
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What is considered joint property in prenuptial/postnuptial agreements? Kiritsis Law 212 922 0005
May 06, 2021
The segregation of joint from separate property ownership, is often key in drafting legally valid prenuptial and postnuptial agreements. Understanding the concept of marital property. Marital property...
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What is considered separate property in prenuptial/postnuptial agreements?
May 06, 2021
One of the most rudimentary yet challenging aspects of drafting prenuptial and postnuptial agreements is the proper categorization of separate property. How exactly can a separate property be treated...
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