Should I set up my startup as an LLC without any sales yet? How does LLC work and how do you get taxed if you're an LLC?

Start-ups are extremely difficult to, well, get started. The budget is tight, and a "price" of $1,000 or $2,000 is a "major" cash expense at that...

12 months after signing a release agreement, the vendor uncovered a miscalculation of what was owed. Can they take me to court?

It all depends on the wording of the release agreement, and whether any of these invoices were for charges or activities that occurred "after" the...

I lend money to a friend but he now refuses to pay back

If the amount is under $5,000, then you're probably better off taking advantage of small claims court. The rules of civil procedure and evidence...

Tax concern.

Generally, income is "subtracted" (i.e., not "exempt") from adjusted gross income (on your NYS return) only if it was for time served in a "combat...

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Tax law prejudice/malice

"The nonprofit acted with malice/prejudice . . ." (that's a conclusion). ". . . wanted the client to miss the tax filing deadline and refund."...

What is the annual cost to maintain a NY State LLC

Assuming the LLC has no income or other activities, $25.00 per year. See, http://www.tax.ny.gov/pit/efile/annual_filing_fee.htm Additionally,...

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There's likely not enough here to charge with a crime. Keyed cars can happen for a variety of reasons. It's not the bullet that has your name on...

Am I responsible for a $3000.00 overage on a $16,500.00 roofing contract?

I'm just going to share some personal experiences here, to hopefully shed some light on your situation. I was recently planning my wedding, and...

I own a C corporation and a good friend of mine owns one too. Both of us are in residential construction business.

C-Corp. for a residential construction business? Other than forgetting to properly make an S-Corp. election when originally forming the company,...

Technically, this is a Goldman Sachs, Moody's, etc., "First Amendment" opinion case. Nobody can be held liable for an "opinion," even when that...