Which is best LLC, Sole Proprietorship or Corporation?

The best thing is a liability insurance policy. Get a logo or a service mark. After you have that: Sole proprietorship: Unlimited liability,...

My credit union loanedme money for auto loan,everything over internet,it was fraud.Am I responsible for the loan.

Confusing Q: You say “You obtained a loan” and “it was all fraud.”? Did you sign a promissory note? Did you sign instructions for disbursement...

Can there be parners in an Inc.?

You would be misleading your customers into thinking they are dealing with a partnership and that you would be personally liable for obligations of...

Depends on the language of the guaranty. If it was a “Continuing Guaranty” and was properly drafted, you probably cannot terminate it. If it was...

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I have corporate papers stating I am the 100% share holder of a S-Corp.

What was the basis for his claim to 65%? Was the paper a binding contract wherein you received some consideration for signing? Did he provide...

When purchasing a short sale home why would the lender require the tax returns of the purchaser?

Thjey are extending credit to you. They need to know that you are a good credit risk. This is part of their "due diligence" to verify your income.

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If my employer files for bankruptcy in CA state, can I file for unemployment benefits?

UE benefits are paid by an insurance company or the state, based on insurance premiums that have been previously been paid by your employer. So...

If back taxes are owed on a business, are all partners responsible?

The IRS can collect it all from one partner or member as it is a "joint and several" liability. Whether it is now an LLC or a partnership,...

Creating a business similar to another

They have common law trademark rights in the region where they have been doing business. If file and they are alert, they will file an opposition...

Can an LLC establish profit share among members after a certain profit threshold is met?

Yes, an LLC can share profits that way. It is equivalent to a corp having preferred and common shares. When I have done this I started with the...