One strategy to minimize tax would be to use a 1031 like-kind exchange and take out enough to pay off your house. You will end up paying tax on the...

You do not have to set up your business in the state you plan to do business in. CA is notorious for beating up businesses organized there. They...

What, if any, recourse do I have against a CPA who causes a small business owner to receive a large IRS penalty?

You'll need to read the engagement letter (if any) that the CPA prepared for the engagement. If they said they'd handle any penalties associated...

I haven't created an LLC yet, but I was wondering if you could point me intothe right direction of having two business under. o?

Yes, you can have two business lines under one LLC but, as noted, you will expose the assets of both businesses to liability in the event of a...

We are a 3 member LLC, one member was with us at the beginning, but is not anymore. Can we remove the third member from taxes ?

A few questions come to mind that you should consider before your question has a clear answer: How is the LLC taxed? What do you mean by "no...

If someone dies without a will and owes a large amount of medical bills is the family responsible for these debts if they sold a

If a person dies without a will, the probate process will proceed under the rules of intestacy which are laid out in the probate code. That's a...

Be careful how you refer to your business entity. An LLC is not a corporation. Yes, you can buy the property using your consulting LLC. However,...

Adding an existing LLC under a newly established S-Corp

Mr. Claudell is correct that the S election is only filed with the IRS and should not affect other state registrations. I agree that organizing...