Archived
What is my tax liability if I get a guaranteed payment from a multi-member LLC that also reported a loss?
James's answer
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Answered on June 20, 2016
First of all, you should not post personal or financial information on the public site like this one. Second, discretion will whether members of an...
F1 student looking to form an LLC
James's answer
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Answered on June 20, 2016
A Business Attorney will help you evaluate in structure your rights and obligations as a member of the LLC, while an Immigration Attorney to assess...
I own an LLC and filed the 8832 form to be taxed as an S-Corp. How do I know if the IRS received it and it was approved.
James's answer
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Answered on June 20, 2016
You need to file Form 2553 with the IRS to make the Subchapter S election. You can obtain the form online at IRS.gov.
Archived
I am looking to raise capital for an operating fund for my business. What type of Attorney specifically should I be seeking?
James's answer
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Answered on June 20, 2016
You should contact a corporate securities attorney (experienced in Securities Offerings), who can help you with structuring your company and...
Archived
I invested $150,000 in a warehouse in Modesto. Owner is not longer paying for interest and refused to pay back principal
James's answer
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Answered on June 20, 2016
It's unclear from your facts how your investment is structured, but it appears to me a loan to an LLC. You need to have all of the loan documents...
I'm on H1B. Can I start my company in partnership with another GC holder in 50-50 basis?
Active vs Passive partnership
James's answer
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Answered on June 20, 2016
You need to consult with an experienced Partnership Attorney and Immigration Attorney to structure a partnership that safeguards your immigration...
When being added as a signer on an LLC account, will the bank run a background check on me?
James's answer
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Answered on June 20, 2016
The bank is asking for identifying information so as to comply with its know your customer rules and typically is not interested in conducting a...
Archived
I have an LLC Corp with my husband. I need to get him off and add someone else. How do I do this?
James's answer
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Answered on June 20, 2016
The operative document is the operating agreement. If neither you nor any of the other members can locate the agreement, you need to get a new...
Archived
Can financial terms outside the lawsuit be settled with other partners is that legally attainable.
James's answer
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Answered on June 20, 2016
It's unclear to what extent, if any, you have been exposed personal liability as a result of the co-mingling of the "managing member's" personal...
Archived
How do I dissolve an LLC in California?
James's answer
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Answered on June 20, 2016
I agree that you should check with the California Secretary of State and Franchise Tax Bureau to ascertain whether the LLC has been terminated. If...