I agree with the above --assuming the Operating Agreement was drafted by an attorney most (not all) have a provision that regardless of the income...

Royalties are classified as "passive" income not "earned" income thus it will not violate your H4 status--but the classification must be...

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I have a s corp can i get out of it

Look in your Bylaws--you should have some kind of shareholder agreement/Buy-Sell/ROFR that will allow one of you to buy-out the other (or force a...

http://www.irs.gov/businesses/small/article/0,,id=98011,00.html

Intestate insolvent Colorado estate. No real estate. Do we need to file informal probate?

This should be a start. http://www.courts.state.co.us/Forms/PDF/jdf%20906%20instructions%20for%20probate%20with%20a%20will.pdf

If I put my house in a trust to my 10 yo, will it affect me for tax purposes?

Your son can get the house through a will or a trust (many different kinds--some specific to personal residences) but putting it in a trust does...

What is the procedure to convert from LLC(single member) to a Corporation ? Both are California entities.

Ken, I believe you are mistaken on all accounts--see http://www.irs.gov/businesses/small/article/0,,id=98011,00.html ("You will be required to...

What is the procedure to convert from LLC(single member) to a Corporation ? Both are California entities.

Don't forget the conversion (likely) will be a taxable event as you will (likely --I am in Colorado) have a dissolution and distribution to you of...