Creating Delaware LLC & be taxed as an s corp to pay myself dividends? I will be based in Chicago but income nationally. Advice?

Generally, you would want to be incorporated as a C-Corp in Delaware; most West and East Coast VC's and other types of private or public financings...

How can I limit the impact of a work-for-hire clause that is too broad and still get the job?

I have recently dealt with this issue... First, a real-life contract lawyer is a very important investment. If you have valuable or potentially...

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I made a personal loan to a friend and made her sign a promissory note. Now, she does not want to pay me back.

You can file suit in the County the promissory note was signed. Once you get a judgment (see if you can get pre-judgment interest as well; rules...

I am a partner in an S corporation. I receive a K-1 every year but I have not received any cash for the last three years.

This is known an phantom income; the IRS does not bend - taxes have to be paid. A partnership agreement or LLC operating agreement can be drafted...

When a reconsideration motion to vacate an order is filed within thirty days and a briefing schedule is set is the order stayed?

Are you saying a motion to vacate was filed and denied and you're seeking a reconsideration and thus wondering about the underlying order? What...

How do I file taxes (1099 status) in Illinois?

Welcome to 1099 land. No, your employer will not provide "quarterly" paperwork; you're on own regarding the calculations. Here's a link to the...

This is a tough question to answer. Different lawyers have/will give different answers and that is because Illinois state laws such as the...

I have applied ITIN number for my spouse 2 month back, but yet to receive.

If you do not receive your original documents within 65 days of mailing to the IRS, allowing 5 days for postal mail receipt, you may call...

I have a minor who has their own business. How do I set it up?

Kudos to your minor! There are a number of particulars that you need to go over with a lawyer and/or tax advisor. This is a good article to help...

Do I have to file a tax return amendment if the change doesn't affect the taxes I owe?

If you think you've made a mistake on your tax return (I'm not advising you one way or another; sorry), you can submit a Form 1040X to correct it....