Probably not. Do you have an operating agreement? Take the agreement to an attorney immediately. Good luck! Phillip M. Smith Jr. Los...

Should have I been charged for 2 emails?

It depends on what his bill states about the legal services that he peformed, and your mutual undertstanding of the nature of your request. You...

Mistakenly I did not elect my Corporation (incorporated on Mar 14 2012) to be an S-Corp.

See tax accountant and file a late election immediately. Good luck! Phillip M. Smith Jr. Los Angeles Tax & Business Attorney Licensed...

Can I make a minimum distribution from my S-corp to our two shareholders?

It appears that in this cirumstance that the profit is too small to pay any reasonable wages. I would document this in the minutes to be safe. I...

I have a current LLC . what kind of company should i open with my friend?

Mr. Doland is correct. you need to determine the nature of your contractual relationship before you creating business structures. You indicated in...

Does a Wyoming LLC earning income from a California rental property have to apply for a SOS number in California?

I agree with attorney Jocabson. You must regiser the Wyoming LLC in California. Failure to do so means that the LLC cannot prosecute or defend...

Should I file an income tax form?

Your question would be better answered by a tax preparer, or an enrolled agent. Good luck! Phillip M. Smith Jr. Los Angeles Tax &...

Single Member LLC versus higher liability insurance for SFR rental properties

You need to decided if the terms of the policy provides you with the coverage that you are looking for. This also may depend on whether you are...

Check the operating agreement of the LLC to determine if the agreement prohibits such a transfer. You also may want to consult an attorney and...

Is it best to wait until Jan 2 2013 to form my company?

No. Because the entity is exempt from the franchise tax if entity is formed in the last 15 days of its tax year. Good luck! Phillip M. Smith...