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James J. D'Esposito's Answers (7983)

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We're starting a home church in NC. Donations will be tax deductible. How do we register the business with the state? EIN, LLC?

James's answer | Answered on September 26, 2016

I agree with Mr. Robinson that you should consult with a NC Corporate Attorney who is experienced with nonprofit entities. Churches enjoy a special...

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I would like to form an real estate LLC (myself & my wife), can I borrow money from my 401K to purchase a property for the LLC?

James's answer | Answered on September 26, 2016

Depending upon the terms of the 401-K, it might be able to directly invest in your LLC or lend the funds to you to capitalize the LLC. There are...

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I would like to know if a fellow Board member (lawyer) of a corporation we both belong to in Hawaii is acting unethically.

James's answer | Answered on September 26, 2016

The process for proposing amendments to the By-Laws and submitting them to members should be set forth in the By-Laws. You should provide the...

Archived

How can I hold an LLC responsible to meet it's agreed obligations?

James's answer | Answered on September 23, 2016

Unfortunately, it sounds like a Ponzi scheme - using other investors' money to make it look like he's producing great returns. He plays on people's...

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How to structure deal to have "finders/administration fee" from investor and also share in the investment? Security law issues?

James's answer | Answered on September 23, 2016

It sounds like you're looking to form an LLC or LP to invest in the stadium deal. You would act as the manager or GP of the entity and would...

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I opened an LLC last month and would like to change name as the same name exists in another state.

James's answer | Answered on September 23, 2016

You should amend the articles of organization to change the name of your LLC. Before you do that, consult with an Intellectual Property Attorney to...

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Can I be compensated? My biz partner was badly injured in an auto accident now my biz is falling apart as a result. I'm in CA

James's answer | Answered on September 23, 2016

I agree with my colleagues. It's too late for your situation, but this is an example why businesses should consider obtaining life and disability...

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I am opening a legal document assistant business I will be the sole owner can I be an llc?

James's answer | Answered on September 23, 2016

You should consult with a CA Business Attorney to see if your company must be a professional LLC (PLLC) or professional corporation (PC) as...

Archived

Business partner drops deal. Is threatening to sue?

James's answer | Answered on September 23, 2016

As an initial matter, you should determine whether you wish to proceed with the investment in the business. I'm guessing not. If not, unless there...

Archived

I have been using a personal checking account since starting my LLC a few months ago, how do I protect myself against liability?

James's answer | Answered on September 23, 2016

You should open a separate bank account for the LLC and use it exclusively for all LLC transactions. To handle the past expenditures, you should...