Archived
Should I form a 2 member LLC for 19 rental properties in Mississippi in order to protect my personal credit file?
Phillip's answer
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Answered on February 23, 2012
It may too late if you signed all of your rental agreements with your tenants. You would be personally liable for rental agreements that are signed...
Archived
UNEMPLOYMENT AND INCOME TAX REFUND CHECK
Phillip's answer
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Answered on February 22, 2012
No. You are required to report earned income. This is income that you have earned from working during the period of your claim.
Archived
Should each member of our PLLC form a P.C. to hold their respective membership interests.
Phillip's answer
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Answered on February 21, 2012
I like this strucure for professionals, and have seen it used in the law firm context. The PLLC consists of each attorney professional S.Corp, and...
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Archived
Benefits of 51% of an LLC
Phillip's answer
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Answered on February 21, 2012
The governing document of the LLC is the operating agreement. This agreement defines the rights, duties and responsbilities of the parties. It very...
Archived
Is my separated wife required to provide me with her social security number in order to file taxes?
Phillip's answer
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Answered on February 21, 2012
Do you have a tax return that you filed jointly from a previous year? If not, order the return from the IRS. You could also demand a copy in a...
Archived
LLC Partner is being unresponsive
Phillip's answer
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Answered on February 21, 2012
Mr. Chen is correct. It is the LLC's liability not your personal liability. Your ex-partner may know this, and may be informed that there are not...
Archived
Options for correspondence audit?
Phillip's answer
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Answered on February 21, 2012
I previously answered you question. When you have tax problem you cannot resolve, seek professional help.
Phillip M. Smith Jr.
Los Angeles Tax...
Live In Maryland but Want To Create a LLC in Nevada
Phillip's answer
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Answered on February 21, 2012
I agree with attorney Sprang. You may have received bad advice, and/or have misconceived ideas about avoiding Maryland Tax if you live in Maryland....
Archived
Can I set up a corporation including the word of “college” in CA?
Phillip's answer
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Answered on February 21, 2012
You do not need to put "Corp." "Inc." or any other desgination after a corporation in California if it not some form of special corp. You are only...
Archived
What do I file to convert a CA SMLLC to a corporation to avoid the CA LLC fee?
Phillip's answer
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Answered on February 21, 2012
You can convert an LLC in California to a C corp. The question is whether the C corpo. will pay more (or less) tax than than the LLC. You are...
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