I am self-employed and owned five Single Member LLCs holding rental properties What Tax Structure to Use?

There are two aspects to asset protection: Limited liability, which is provided by an LLC or a corporation, and protection of the assets owned by...

I received notice today that my tenant filed chapter 7 bankruptcy in Michigan and that I now owe her back rent payments.

Rent is still required unless the debtor chooses to surrender the premises. I would need more information in order to be able to answer your...

CHAPTER 11 PERSONAL BANKRUPTCY.

The answer is too complex to be answered in the small space allowed. Issues include: Absolute priority rule and your ability to repay IRS...

You can serve as the registered agent for the LLC if you do not choose to involve anyone else.

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The following bankruptcy chapter 11 election 1111(b) reply seems incomplete...

1111(b) enables the lender to retain a "payoff" amount on the loan in the full amount of the claim so that the debtor cannot cram down then flip...

Looking to start a business in Michigan.

I know of no reason why you would need the restaurant's permission. However, if you advertise using their name, you may need their...

Landowner had a lease with company A. Company A subleases the property to company B. Company A files bankruptcy.

Section 365 of the Bankruptcy Code provides protections to a lessee in possession. The lessee will want to consult an attorney for a more detailed...

Can legal action & lawsuits be filed against a company while in Chapter 11?

Yes, with certain exceptions, the automatic stay provisions (section 362 of the Bankruptcy Code) protect the company from creditor action. You...

Sold a car in Michigan. He had the buyer sign a bill of sale with model +mileage+date. No copy made of title.

By signingbthe title and filling in the mileage, you performed your duties as seller. I don't see a problem.

LLC as single owner sole proprietor disregarded entity is it taxable on owners income myself

Agreed. You can report the income on your personal return.