I'm in the process of filing for a California C-Corp through
I'm in the process of filing for a California C-Corp through incorporate.com (application is being delayed and will be sent to the state later in December so that I will have an incorporation year of 2016 and tax year beginning on the first day of 2017). I'm a French citizen so I currently do not have an SSN nor an ITIN (as of yet).My understanding is that I don't need either ones to get my C-Corp, but will need one of them to obtain my C-Corp's EIN to begin filing taxes. However for me to obtain an ITIN I need to file a tax return along with my ITIN application. So I fear I may be stuck in a catch-22 where my C-Corp can't file taxes until I get my ITIN, for which I need a tax return from my C-Corp.What should I do? Is it OK for my business to start activities in January without an EIN until I can begin generating revenue, so that I can file my tax return along with my ITIN application, and only then obtain an EIN for my business?Please let me know what would be the best approach to this.
I am on H-1B visa right now. I am working Full-Time (40 hr
HiI am on H-1B visa right now. I am working Full-Time (40 hr per week) in a company that sponsored my H-1B.I wanted to start my own online business. Can i do that ?I wanted to do this business apart from working full-time in my company.How can i make it possible
PRIVILEDGED AND CONFIDENTIAL - NOT TO BE POSTED FOR PUBLIC
PRIVILEDGED AND CONFIDENTIAL - NOT TO BE POSTED FOR PUBLIC VIEWWhen a business entity enters into contract and the contract requires a "Board" to meet and discuss any changes/amendments that would be made, is there any statute requirement on how many must be on the Board? It would make sense that there are at least 4. However, is there any business code or other statute for such requirement?
My sister owns a company (LLC). In the operating agreement,
My sister owns a company (LLC). In the operating agreement, she is the only voting partner and 90% owner.Now, my sister and her partner decided to form a new corporation to replace the LLC. Her partner filed all of the paperwork and put everything in her name (supposedly a mistake). The agreed to form a stock purchase agreement where my sister will purchase 90% of the stock of the new corporation.The question is: with a corp, there is no operating agreement. How can the stock purchase agreement be structured in a way where my sister remains as the only voting stock holder and where no one can make any decision but her? As the majority owner, she has a lot to lose (her partner agrees) and needs to ensure that she is the only decision maker.Also, for the purchase price, my sister is not paying any money, instead she is moving her assets from the LLC to the corp. can those assets be valued and mentioned in the agreement?Thanks.
I have a case where a parent company holds three LLCs under
Hi,I have a case where a parent company holds three LLCs under its roof. Each LLC has a separate FEIN number and the responsible party for each LLC is the corporate parent company. Moreover, each LLC is fully owed by the parent corporation and the operating agreement also mentions that the income and expenses flow to the parent company.My question: When we file the parent corporation tax return, should we file a consolidate tax return that includes the parent corporation and the three LLCs on it?Or,Do we file spate tax returns for the parent corporation and the LLCs? (all together one 1120 and three 1065). Or, there is no need to file 1065 since each LLC is a single member LLC owed by the corporation?Could you please clarify.Thanks!
A Colleague and I are starting a Life Coaching business
A Colleague and I are starting a Life Coaching business together. Currently, we are sole proprietors, living in Georgia and Virginia. We are becoming 1099 contractors of a Coaching company (I think Inc.) that specializes in working with clients with PTSD. We will be Coaches, NOT therapists.We are trying to decide the best tax/legal structure that best protects us personally and professionally.Questions:1. What are the advantages or disadvantages of forming an LLC together?2. Should we just form our own LLC and collaborate?3. What kind of liability do we need? We will not be covered by the larger Coaching company.Thank you!Jan Klos in Atlanta
On a gh level, I understand the difference between an LLC
Dear Sir or Madam,On a high level, I understand the difference between an LLC and a C corporation or a full fledged corporation. However, if there is double taxation for corporations, why will any company form a corporation. Also if LLC is a simple structure and better of taxes, why is every company not an LLC. For example why large companies like AT&T, IBM, Facebook, Google, Amazon, etc. are not LLCs. Is there a difference when they go public or allocates shares before going public. I am being offered partnership in an LLC where all partners are US citizens.Ali