Forming an LLC and want to leave additional room for future investors

Reserving the 30% can be done by simply having a separate class of units -- that way you can issue units in the 30% class without diluting the 70%...

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I petitioned the US tax court over a ruling on "real estate pro" status. What legal format should I use to reply to respon brief

First, I have seen a bunch of these cases where the rentals were primarily 7 days or less and the IRS was pushing the wrong issue. I throw that...

I owe 30,000 in IRS tax debt for 2009 and I live off of social security disability . I have no assets except a 1998 minivan.

You may be able to file an offer-in-compromise with the IRS to compromise your tax liability, or at least have it put in uncollectible status. I...

It may be as simple as assigning your interest in the LLC to your brother. If you and your brother are the only owners and if you are currently...

Can I claim percentage of year-end loss of LLC on my taxes if I sold my shares to remaining partners during the year?

Unless all of the business activity occurred after you terminated your interest in the partnership (assuming it is taxed as a partnership), then...

Should I form my LLC in CA or other state?

If your services initially are not going to be tied to California, I would form outside California. It has been my experience that forming in...

The simple answer is to have your wife transfer her interest to you -- this automatically converts the multi-member LLC to a single-member LLC. ...

Is it possible to split equity within a specific product line of an LLC among multiple people? If so, how?

Generally you can't vary each member's ownership of different LLC assets. The LLC owns the asset and the members own interests in the LLC. One...

Do we share losses?

Liquidating distributions in an S corporation are done on a pro-rata basis, tracking ownership percentages. So, the three of you will likely split...

Please help me determine residency for tax purposes

Residency for state tax purposes generally begins with a person's "domicile" which not only incorporates a physical residence but also an intent to...