Archived
If another chapter of a national organization hosts a fundraiser for my chapter without my authorization, is my chapter liable?
Brian's answer
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Answered on March 19, 2014
I've remarked this question as "personal injury" so you'll get better responses. (This isn't a matter of nonprofit or finance law.) I've never...
Archived
Is bank account under company’s Tax ID number considered to be a property of that company (as with SS# and personal accounts)?
Brian's answer
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Answered on March 17, 2014
I don't know if the bank "violated" any laws but Member A is definitely committing fraud. Furthermore, I can't imagine how a better-drafted LLC...
Stock Option Grant - Name Change
Brian's answer
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Answered on March 17, 2014
There could be more work or less work, depending on the facts. For example, the original grant could have permitted assignment to a related party....
Archived
If I have zero gross profit from the sale of a home, do I need to put that on my income tax? We did not recieve a 1099-S.
Brian's answer
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Answered on March 17, 2014
You should engage an accountant or tax lawyer to help you maximize the tax treatment of this related-party transaction. On the facts you mention,...
Archived
Married, wife does not want to sign joint tax return -- what can I do? We have a Rental and a Sched C.
Brian's answer
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Answered on March 17, 2014
I think you've already ID'd your choices: either file "married filing separately" or request an extension. It's generally disadvantageous to file...
Archived
LLC as the umbrella with smaller corporations under
Brian's answer
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Answered on March 17, 2014
The LLC rules are flexible and there shouldn't be any bar to setting up, as you mentioned, a structure of an LLC holding corporations. This...
Archived
Should I start a nonprofit or for profit organization?
Brian's answer
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Answered on March 17, 2014
To answer a couple of your questions: a non-profit can pay salaries for you and other people, provided they are reasonable and don't trigger...
Archived
I own and S-corp with a partner and we are the only officers of the corp. we are 50:50.
Brian's answer
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Answered on March 15, 2014
Generally, you can sell your shares. However, your right to sell and his rights if/when you sell could be altered by buy/sell agreements or...
Archived
Can a division of a corporation keep its tax id number if it transfers to a new corporate entity?
Brian's answer
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Answered on March 15, 2014
In general EINs are unique to the legal entity, not a corporate division, so the new legal entity would have a new EIN. However, there may be...
Selected as the best answer
Archived
Is it legal for two separate companies to be using the same EIN?
Brian's answer
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Answered on March 15, 2014
No, separate legal entities must have unique EINs. This could have been some sort of clerical error.
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