Archived
What are helpful language suggestions on amending an LLC operating agreement when inducting a new member?
Phillip's answer
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Answered on November 29, 2012
This is not the type of question that should be asked on AVVO because you are asking an attorney to assist you in drafting amendments to a document...
Archived
I have a tax law question. I want to convert my IRA account, presently in an annuity, into physical precious metals.
Phillip's answer
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Answered on November 29, 2012
Self-directed IRA LLC''s should not be created by individuals because they must comply with ERISA, IRS, and DOL regulations, reporting and...
Archived
For a business in Board and Care with 2 members - LLC? S-Corp? 2)
Phillip's answer
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Answered on November 28, 2012
Yes, but you need a written rental agreement, and the approval of the other shareholder or member. This transaction needs to be carefully...
Archived
My boyfriend received a letter from the IRS saying they are going to start garnishing his wages and taking money
Phillip's answer
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Answered on November 28, 2012
Yes because his social security # is on the account which is more important. You may want to consult with an tax attorney regarding the businss...
Archived
If a LLC is registered in Iowa could a worthless piece of property be sold to it ?
Phillip's answer
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Answered on November 27, 2012
No. The liability to the owner was created before the property was transfered because the taxes were already overdue. This is a fraudulent...
Archived
How do we convert a multi-member LLC to a single-member LLC ?
Phillip's answer
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Answered on November 27, 2012
You should amend the operating agreement and notify the state of the change.
Good luck!
Phillip M. Smith Jr.
Los Angeles Tax & Business...
Archived
How specific does a corporation name have to be?
Phillip's answer
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Answered on November 26, 2012
You can also reserve corporate name to prevent the name from being taken until you incorporate.
Good luck!
Phillip M. Smith Jr.
Los...
Archived
I did not have income, but CA State Tax Board notice me for levy
Phillip's answer
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Answered on November 25, 2012
I am not sure of your question. You need to have a consult with tax practitioner who can verify your facts in order to verify the statute of...
Archived
Can my company issue stock options without having a stock plan?
Phillip's answer
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Answered on November 20, 2012
Section 25110 of the California Corporate Securities Law of 1968, as amended (the "California Securities Law"), generally prohibits the offer or...
Archived
My CPA's employee inserted wrong numbers on my return. Im being audited
and charged for it by the cpa. Plus the fines, etc
Phillip's answer
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Answered on November 19, 2012
Complaintand ask your CPA to reduce his charge. If he refuses, hire another person to represent you in the audit and sue the CPA in small claims...
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