Archived
How can I protect myself legally if I decide to loan a family member cash for a mobile home? I don't want to be on the title.
James's answer
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Answered on July 11, 2016
You need to document the loan with a promissory note and secure the loan by obtaining a security interest in the mobile home (so they can't sell it...
Archived
Am I responsible for daughters medical bills if I claim her as dependent on taxes.
James's answer
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Answered on July 11, 2016
Dependent status for income taxes is unrelated to liability for your adult daughter's medical bills. Absent an agreement by which you assume...
Archived
How to change from a C15 flooring license to an S corp?
James's answer
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Answered on July 11, 2016
Either an LLC or a corporation (with an S corp election) would work for you and would protect your personal assets. There might be a slight...
Archived
Would there be any issue in creating 1 LLC with many 'brands'?
James's answer
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Answered on July 11, 2016
Your suggestion is a good one - there is no reason to have separate LLCs as it's a single business with distinct trade names for different target...
Archived
Am I responsible for a contractor's bank fees for a check that I stopped payment on as well as an insufficient fund fee?
James's answer
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Answered on July 11, 2016
You might be contractually responsible depending on the terms of any agreement, but you should make him whole for the stop payment charge. I...
Archived
Can a mortgage bank ask to see the bank statements for my small business (S-Corp) in relation to my personal home mortgage?
James's answer
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Answered on July 11, 2016
Yes, the bank can ask to see your small business's bank statements, where a significant portion of your personal income is derived from that...
Archived
What I can do when finance manager hit u with hidden fee at car dealership.
James's answer
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Answered on July 11, 2016
If the fee was disclosed in the finance documentation (and especially if disclosed in a simple summary), you will be hard-pressed to assert that...
Archived
Do I have to pay off a car loan if I co-sign for it?
James's answer
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Answered on July 11, 2016
Unfortunately, you remain liable on the loan in accordance with the terms of the loan documents.
Archived
Term Life Insurance: Change payment from annually to monthly
James's answer
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Answered on July 11, 2016
Depending on the terms of the policy, yes, you change change the frequency of premium payments. Simply contact the insurer or your agent.
Archived
Do I need a resale certificate for an online business?
James's answer
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Answered on July 11, 2016
You should apply for a resale certificate to avoid paying taxes on your initial purchase of goods that you intend to resell.