You should always get approval from your lenders. If you are transferring the assets to a wholly owned LLC (meaning you are the only member), the...

Can my partner transfer all his shares in our s corporation to his son, if he is facing a lawsuit?

Do not do or agree to a thing until you speak with a local attorney. First off, this transfer may be fraudulent under state law and may be unwound....

Am I in legal trouble if I keep a duplicate item that a vendor online sent me?

This was not your property and you did not have a right to trade it for something else. It was a mistake that they have now discovered. So they can...

I was given 1 yr to learn a C/S position & the business before that year had expired I was terminated, do I have legal recourse?

Do you have a written agreement regarding this one year claim? Do you have an offer letter? Do you have an employment manual? If you have any of...

How do I add a second member to my LLC?

This should all be provided in your operating agreement. A good operating agreement makes clear the process, voting, and document requirements for...

I promoted the start up of a business into a new region. Should I be compensated financially?

You are going to have to provide an attorney more facts. For example, what did you do? How many hours did this involve? What was your paid work...

What's the normal cost to get a QSB and 83(b) election in California?

An 83(b) is very simple and can be done by yourself. The more relevant question is if you need to file one or not. Are the founder shares under a...

What Arizona statute supports rescission as a means for fraudulent contract?

Rescission rights are an equitable remedy provided by the court in very limited circumstances and I have never heard of a state statute for this...

Accounting question - taxes legal payroll vs. owner draw split

Speak with an accountant who has expertise on S corporation salary. There is no best tax advantage answer. It depends on your level of risk...

The state files a criminal case only after having a basis that a crime was committed. This appears to be more a civil matter. You can contact the...