Business partner is trying to force me to quite, sell or reduce my share of the business, can they do that?
Glynn's answer
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Answered on July 10, 2020
It greatly depends on the type of entity that you are in - if any. If you did not file an entity such as an LLC for your business arrangement,...
Can my sole propriator LLC be taxed as an S-corp for 2020?
Glynn's answer
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Answered on May 12, 2020
To make the election for 2020, you would have needed to file Form 2553 (S Corporation election) on or before March 15, 2020 for it to be timely...
Can I operate a nonprofit and an llc in the same building??
Glynn's answer
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Answered on May 08, 2020
You can operate it out of the same building but you should have separate lease agreements with each entity. It would also be best to designate...
I receive oil royalties on a monthly basis. Is there any tax advantage of having the royalties paid to the LP?
Glynn's answer
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Answered on May 08, 2020
Typically a Limited Partnership is taxed as a Partnership for federal income tax purposes. That means that its owners would be allocated the...
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