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I formed a single member LLC in the last year, I'm

I formed a single member LLC in the last year, I'm seventeen. I didn't know what I was doing, and didn't make any money (small net loss). After I formed the LLC I applied and received a EIN number. This was in December 2015, since then i have done nothing with it. What do I need to do to stay out of legal trouble?

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Asad Rahman

Attorney

J.D.

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I want to set up a business with a friend but have only $5k

I want to set up a business with a friend but have only $5k to invest. Before we even start I want to sample test the business first to see if it has potential to grow. At what point should I get a lawyer or clarify our roles/ intricacies of this business with my friend?

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

106,502 satisfied customers
Doug, We have not been served papers but have received a

Hello Doug,We have not been served papers but have received a call from a company claiming to be coming tomorrow for "asset and liability" process. It is my understanding i do not have to allow them to enter the business w/out legal serving. is this correct?

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LawTalk

Attorney at Law

Juris Doctor

32,360 satisfied customers
In Pennsylvania, When a business is valued using the... When

In Pennsylvania, When a business is valued using the...When a business is valued using the income method by an 51% owner spouse plaintiff vs 49% owner spouse defendant to determine equitable division of marital assets, does that method of valuation disadvantage the defendant claiming double dipping exists?the salary the 51% spouse earns cannot becounted as part of the value as well as used for alimony?I as the defendant 49% owner would like to suggest that my husband buy out my shares at market value, then I would like to request alimony and child support based on his total net income from the business which is his fair market salary plus 100% of the excess value, three times my current net income btwIt has been proposed by my husband that that is double dipping and that since he used s valuator who used the income method, I can only receive alimony based on the lower fair market salary , not his actual total compensation because that has been added back to give the business it's value based only on the income methodIf I get the business valued myself using a valuator who uses the market and assets value methods, woyld it be double dipping to have him buy out my shares and still base alimony and child support on his total excess values which is his actual net income ?Thanks

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Maverick

Doctoral Degree

6,326 satisfied customers
I am a web designer and created a website, graphic material

I am a web designer and created a website, graphic material (primarily a logo), Facebook page, and email list for my husband's business. There was no contract. The domain name for the website is the same as his business name. He has a sole-proprietor, no trademark. The domain name is ***** ***** my name. The website is hosted on my server. I registered a copyright on the logo in my name.Prior to building the website, I paid $5,000 towards his business start-up fees, as well as $2,000 towards his immigration application. He promised to repay these amounts. I created the website to help him establish himself and our verbal agreement is that once his business began to earn money, he would repay me.He has been earning money for 10 months and he did not repay me.We separated 6 weeks ago.He will not agree to signing our separation agreement, which partly outlines repayments of his debt to me, until I give him sole ownership of the website and marketing material. I have asked for payment towards the website before giving it to him.His lawyer says they will take me to court unless I give him sole ownership of the website. Am I obligated to give it over? What are my rights (copyright, domain name ownership, etc)? Is there a Family Law loophole of which I am not aware?

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Damien Bosco

Attorney

Doctoral Degree

2,736 satisfied customers
I did a bathroom remodeling for a customer who has not paid

I did a bathroom remodeling for a customer who has not paid me. The work was done without permits at the homeowners request and niw I'm concerned about the potential for them to sue me for doing the work without a permit if I file for a mechanics lean or bring them to small claims court.JA: Because laws vary from place to place, can you tell me what state this is in?Customer: IllinoisJA: Have you talked to a lawyer yet?Customer: NoJA: Anything else you think the lawyer should know?Customer: I am owed just under $4000

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Damien Bosco

Attorney

Doctoral Degree

2,736 satisfied customers
I have an unsecured business loan through Kabbage for my

I have an unsecured business loan through Kabbage for my business (LLC). Due to situations outside of our control I have fallen behind in repayment, but trying to work with them to repay. They have indicated that they will file a lien against my business and I'm nervous of the personal affects this will have against me and my personal property, car and home. My questions is can they come after my personal belongings? My wife and I jointly own our home and I don't want her to feel the affects of my business debt.JA: Can you tell me what state the LLC is registered in?Customer: South CarolinaJA: Has anything been officially filed? If so, what?Customer: Nothing yet. I have been working with Kabbage to establish a repayment plan, but thus far the amounts they have required are far above and beyond what my business is currently generating in revenue.JA: Anything else you want the lawyer to know before I connect you?Customer: Not that I can think of. Thank you.

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legalg

Juris Doctorate

13,456 satisfied customers
Can an S-Corp buyback its shares from its shareholders at

Can an S-Corp buyback its shares from its shareholders at two different rates? One shareholder has negotiated a higher rate than two other shareholders. Would moving forward with the sale cause the S-Corp to lose its SCorp status?

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

106,502 satisfied customers
What are the benefits of being a Secured Party Creditor?

What are the benefits of being a Secured Party Creditor? What does filing a UCC1 do to protect your assets?

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Damien Bosco

Attorney

Doctoral Degree

2,736 satisfied customers
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