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  1. Contract Law: Re: What Cause of Action to Foreclose on a Business

    If I had the money, I would. This default in payment has put me in a serious money crunch. That's why I asked for help.

    More pointedly, would I ask for injunctive relief or would I be asking...
  2. Contract Law: How to Repossess Business Assets if the Buyer Defaults

    My question involves court procedures for the state of: Florida

    I sold a franchise on a down payment and promissory note. The sale was to an LLC but the sole member also personally guaranteed the...
  3. Re: Why is it Hard to Sue Somebody With More and Better Lawyers

    Three things determine success in a lawsuit. 1. The facts of the case. 2. The law. 3. The skill with which a party's arguments are presented with regard to #1 and #2.
  4. Federal Taxes: Re: Rental Property Sold - Sales Information on Assets

    Appliances are not improvements to property, they are appliances and depreciate on their own schedule (normally 5 years). An improvement to property is something that increases either its value or...
  5. Federal Taxes: Re: Do You Have to Pay Taxes on an Ex-Spouse's Life Insurance Premiums, Securing Supp

    According to the IRS:



    Therefore, if payment of a life insurance premium is tied to the child's age (a "contingency relating to a child"), then it is child support. I don't see how it could be...
  6. Federal Taxes: Re: Employer Error on Tax Documents, and How to Handle

    Thanks everyone. Just one followup question. Why would I have to pay FICA on reimbursement for my car expenses? The actual expenses exceed the allowance, and I thought I could deduct them for net...
  7. Federal Taxes: How to Respond to an Employer's Error on Tax Documents

    My employer reported my salary on a W-2 while they reported my car allowance ($500 a month) on a 1099-MISC. They also put my commission draws on the 1099, but those commissions are also in the W-2...
  8. Federal Taxes: Re: How to File a Business Tax Return, IRS Form 1120, for a Business That Made No Mon

    With regard to the question about the business making no money, you should be aware that the filing requirements for corporations do not work they way they do for individuals. A corporation must...
  9. State Taxes: Re: Taxation of Professional Corporations in California

    I have the professional credentials and experience to analyze this issue properly. However, I would not invoke them to insist others must accept what I say. Two CPAs and two attorneys can come to...
  10. State Taxes: Re: Taxation of Professional Corporations in California

    I have not chastised anyone for anything. I've asked for some authority to support what is being asserted. I operate in a world where reasoning unsupported by any authority is fairly meaningless. I...
  11. State Taxes: Re: Taxation of Professional Corporations in California

    The truth is you cannot find such a case because there is not one, even though you assert there are many. The reason there are not any is because the IRS does not attack S-corp compensation on the...
  12. Re: Does the U.S. Have a Good System for Medical Malpractice Cases

    Discovery is indeed a powerful tool for getting at the truth. It is also true that represented individuals tend to receive larger insurance settlements than unrepresented ones. That could be because...
  13. Business Regulation: Re: Do I Need New Business License and Tax Id if I Am Purchasing a Business

    The person asked whether they could use the same business license that the current business uses or whether they should get a new one. Therefore, it would be erroneous to assume that no business...
  14. State Taxes: Re: Taxation of Professional Corporations in California

    What I'm asking for is some authoritative source that says a company with no resources to pay a salary has to catch-up on that salary requirement for prior years. llworking says there is a lot of...
  15. Drunk and Impaired Driving: Re: What is the Possibility of an Impaired Driving Charge When Your BAC is Zero

    You do not have to fail a chemical analysis (breath/blood/urine) in order to be convicted of impaired driving. For example, blowing .08 yields the legal presumption that you are impaired without...
  16. Re: Does the U.S. Have a Good System for Medical Malpractice Cases

    People don't necessarily sue the really bad doctors. People tend to sue doctors they don't like: http://www.ncbi.nlm.nih.gov/pmc/articles/PMC1201002/ and...
  17. Business Regulation: Re: Do I Need New Business License and Tax Id if I Am Purchasing a Business

    Yes, you will need your own business license in most locations - you don't disclose yours, so that's as much as can be said. You will need your own tax ID because they are non-transferable. The...
  18. Business Ownership: Re: Giving Away S-Corp Shares

    I don't disagree with the advice here, but I would caution throwing words like "fraud" around too loosely. To commit fraud is to deprive someone of something they are entitled to. As taxingmatters...
  19. State Taxes: Re: Taxation of Professional Corporations in California

    That ignores the fact that a corporation can tie compensation to performance. Arguably, a business that does not generate enough revenue to cover a salary to its officer(s) has not been operated well...
  20. State Taxes: Re: Taxation of Professional Corporations in California

    I'd be curious to know what authoritative source there is for the notion that the corporation must catch-up w-2 income for prior years when it could not compensate an officer/shareholder for work...
  21. Loan Agreements: Re: Can a Title Loan Lender Keep Your Title as Collateral for Another Loan

    Many security agreements also encompass future advances secured by the collateral. It gives the company a greater incentive to make a loan to someone who would otherwise not be credit-worthy. You ask...
  22. Business Ownership: Re: Can a Company Sell Stock, then Transfer All of its Assets to a Different Company

    There is a business judgment rule in corporate law that protects directors. The rule is particularly strong in Delaware, which is one reason so many businesses incorporate there. However, conflicts...
  23. Resignation: Re: Terminating Employment Contract Before Start Date

    I have no idea other than what the OP stated. S/he seems to want to know the risk if you enter into an agreement to do something, the other party incurs costs based on the promise you made, and then...
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    Starting a Business: Re: Should You Use an LLC for Direct Sales

    A single member LLC is not going to be able to incur debts without a personal guarantee by its sole member, as a practical matter and any action of the LLC would have to be done by you personally -...
  25. Resignation: Re: Terminating Employment Contract Before Start Date

    That is not the situation here. You are ignoring the doctrine of detrimental reliance. While a person can quit at any time, if they promise to take the job and create expenses for their employer as a...
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