CA LLC: Should I dissolve?

I think Mr. Saltzman's answer deserves a little clarification: If you do continue as a single-member LLC (an "SMLLC"), you will be presumed to be a...

Is there an alternate to a partnership for a group of people who just want to join on a single project?

It is doubtful that this would constitute a partnership. Simple expense sharing does not make a partnership, and participating in a lawsuit would...

LLC, taxed as a C-corporation, enters into partnership with a sole-proprietorship.

I agree with my colleagues: the LLC's status as a C corporation is unchanged. Be advised, however, that the partnership will be required to use the...

What are my options after additonal tax is assessed upon audit? Thank You.

My colleagues' answers are correct, but here's the typical procedure: After an exam is closed by the auditor, you have an opportunity to "appeal"...

Need Case Law Citation for IRS Trust Fund Recovery Letter

Well, the thing is, Section 162 provides that the corporation "shall" deduct reasonable salary for services actually performed. Since you were an...

I am a partner in an LLC. My partner has decided that he wants to be the sole owner. What am I liable for and entitled to?

I concur with my colleague above. Additionally, your withdrawal from the company can be accomplished as either a liquidation (i.e., the company...

If my bro and I are cotenants on my home & the IRS gets a lien against him 4 tax debt, how will that affect me and my 1/2.

I would concur with my colleague's answer above. I would only add that it's not just the IRS you need to worry about. Your brother's interest in...

If your father guaranteed the loan, then yes, it's probably enforceable against his estate, at least to the extent that the other guarantors'...