How does the trustee determine the value of a business?

If you are filing a chapter 7, you are liquidating the company and would be out of a job also. You need to consult with a bankruptcy attorney who...

Your answers is as follows: 1) The state of California employs an assessment method using categories of professionals to determine if a...

Can a retiree sue for compensation of damages incurred as a result of a negligent payroll dept.error?(insufficient tax withheld)

There is something strange about your question. If there was a critical error of under withholding, it would should have been caught by the tax...

Bankruptcy question and closely held business. Debts in shareholder name only but liab. listed on S-Corp book/tax return

This question is vague in that you failed to state (and probably could not in this limited space) what credit card expenses were business, and what...

I want to leave an partnership (50/50) and start my own company. Can my business partner sue me to say that I stole the idea?

I agree withe Attorney Smith. This is a situation that needs to be worked out before you leave, if this becomes necessary. I would like to think...

One ltd partner will be investing only his $. What % of co should he get and do we make pymts on the $, or he gets % of profit

I agree with attorney Jacobson. This is a complex area of partnership law that should be negotiated between you based upon the expectations of all...

Incorporation of a second business using a prior incorporation

Generally you can use a corporation for any business or businesses so long as the buinesses are not prohibited from doing business as a...

What are the tax liabilities for a foreign corp. that services all 50 states but does not draw revenue from 48 of the 50?

It would be helptful to know more about the services that you provide, and what licensing requirments that you are trying to fulful Plese...

Can IRS audit 2009 tax return of an S-Corporation that has been formally dissolved in 2011?

Attorney Fromm is correct. You can be audited for 2009 until 2013. The dissolution of a corporation does not prevent the 2009 returns from being...

I started a business idea with a friend. Can I continue without him?

An agreement does not have to be in writing to be enforceable. Your "friendly agreement" could therefore be enforced by your ex partner. See a...