Archived
Equal members in llc will loan llc funds to pay off mortgage. do we need a lawyer to draw up proper paperwork
Karen's answer
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Answered on November 13, 2009
From your question it appears you should definitely consult a lawyer so that the loan terms are clearly spelled out and any security for the loan,...
Archived
Hi...I made an irrevocable trust for my child in NYS in 01. I'm now in MD and have had another child...can it be changed or can
Karen's answer
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Answered on November 12, 2009
If the trust is indeed irrevocable then you cannot change it. The trust may contain provisions for a Trust Protector, who might be able to change...
Archived
What is the best way to restructure a rental property from JTWOS to a LLC?
Karen's answer
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Answered on November 11, 2009
You are right to be concerned about triggering the due on sale clause of your loan agreement. Unfortunately, the dilemma can't be resolved through...
Archived
Single Family home is under LLC. Signed leasing contract with LLC as landlord. What are my personal liabilities if LLC is sued?
Karen's answer
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Answered on November 11, 2009
Generally, one of the advantages of having rental property in a Limited Liability Company is that any liabilities that might accrue to the owner of...
Archived
Are there tax implications for allowing my elderly mother to pay me rent?
Karen's answer
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Answered on November 11, 2009
From the facts in your question you will have to claim any amount received as rent as income. You may also have some deductions you can take as a...
Archived
How do I get guardianship released from my soon to be ex wife? We are both guardians to my blood nephew. She wants the child.
Karen's answer
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Answered on November 10, 2009
Only a court can remove your wife as guardian. Likewise, only a court can remove you as guardian if your wife tries to act alone as guardian. If...
Archived
Do I need to file something legally or can I just call it a "dba" and say the sole proprietor co. is part of the corp.?
Karen's answer
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Answered on November 10, 2009
There are some variables in your question that haven't been provided. Generally, your corporation can operate more than one line of business and...
Archived
We have an S Corp and would like to add an additional DBA- do we get a new EIN number for the additional dba?
Karen's answer
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Answered on November 10, 2009
You do not need to get a new Federal Tax Identification Number for a new tradename (DBA) if the existing corporation is going to pay the taxes for...
Archived
Can I sell my LLC Company with out a lawery
Karen's answer
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Answered on November 09, 2009
There are a lot of variables in selling your LLC that can't be addressed in this answer. Generally, you can transfer ownership of a limited...
Archived
What is the difference between a 501 c 3 and a 501 c 6 classification
Karen's answer
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Answered on November 09, 2009
A nonprofit classified as a 501(c)(6) is usually a "business league", that is an organization whose purpose is to promote a business purpose, such...
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