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Recent C Corporation questions

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

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Richard - Bizlaw

Juris Doctor

9,808 satisfied customers
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

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Irwin Law

Juris Doctor JD

8,832 satisfied customers
I am a the minority partner in a C Corporation, owning 35%.

I am a the minority partner in a C Corporation, owning 35%. My partner owns 65%. I no longer want to own my share and my partner does not want to purchase it from me. Am I able to forfeit my shares?

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Richard - Bizlaw

Juris Doctor

9,808 satisfied customers
AndreaI have an s-corp (just me), and a c-corp (again, just me).

Hello AndreaI have an s-corp (just me), and a c-corp (again, just me).I'd like to combine the two into the C-corp,or maybe both to an LLC.

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Richard - Bizlaw

Juris Doctor

9,808 satisfied customers
I am starting a new business and I am unsure what I should

I am starting a new business and I am unsure what I should become..I am a sole proprietor now, we want to become a LLC .Can you help me with the process? And is an LLC what I should become?We are opening a mobile bike shop which will someday be a brick and mortar bike shop.I want to be sure what I should become and how to do it.Thanks

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Richard

Owner

Doctoral Degree

47,058 satisfied customers
Can some one who is non-resident of USA own a part of

Can some one who is non-resident of USA own a part of business establishment in USA ?Below is the scenario:I am planning to bring-in a restaurant chain which is outside USA to California. My franchiser want's to invest and hold 25% of the venture. He is a non-resident of USA. Can this be possible ?

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Michael Lykken, Esq

Partner

Juris Doctor

178 satisfied customers
I have a couple CA corporate law questions: My

Hello, I have a couple CA corporate law questions: My ex-wife and I owned a CA C corporation up until seven years ago when she quit, filed for divorce, and the corporation was abandoned. A business evaluation was done, a value was determined for the company, and I paid her half the value. Our final divorce judgment says that I'm the sole owner and we are to cooperate in transferring her share to me. I gave her a stock certificate for half the shares originally allocated to the corp and the bottom filled out to transfer the shares to me. She signed it and had a friend sign as a witness, but she didn't date it. So question #1, should I kick it back to her and ask that she date it? Does it matter? Then second question is what forms do I use to send a copy to the IRS and to the CA FTB so that is put on record with both feds and state? Thanks.

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5,238 satisfied customers
I 't have tax issue, I want to understand how to merge two

I don't have tax issueJA: The Accountant will know how to help. Please tell me more so we can help you best.Customer: I want to understand how to merge two c-corporations together and than move the one I have merged into CaliforniaJA: Is there anything else the Accountant should be aware of?Customer: one corporation has stock of the otherJA: I'm sending you to a secure page on JustAnswer so you can place the $5 fully refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and connect you two.

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Richard - Bizlaw

Juris Doctor

9,808 satisfied customers
Can an "S Corp." have only 1 person on payroll? P. &

Can an "S Corp." have only 1 person on payroll? I am V.P. & Treasurer of our Company, and I want to up my husbands pay & be taken off payroll.

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124 satisfied customers
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