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Am I going to be charged questions? I have a nonprofit
Am I going to be charged for the questions?I have a nonprofit science workshop running for the last 10 years. I charge the students to cover the materials and the space a pay the teachers help. The income is below 50000.Expenses are higher . I substitute some money'sNow I am into 74 years getting tired. The program is useful for kids ranging from 1-12.Some commercial people are asking me to have a partnership with themWhat does it mean.?should I proceed or not.reasons to proceed is if some money's come from partnerships ,I can hire a manager to continue the science workshop.My workshop web is www. Irvingartofscience.org
I am writing an operating agreement care business and I know
I am writing an operating agreement for senior care business and I know that my would be partners are bringing in $250,000 in cash and additional $250,000 in loan to the company if needed in future at 12%. Can I use that as their capital contribution in the operating agreement under capital contribuition section? What is their capital contribuition and do I mention the loan guarantee to the business as separate? What about lease agreement that has personal guarantee if required?
Would someone be able to explain to me what liquid assets
Hello, would someone be able to explain to me what liquid assets are in legal terms. I am specifically curious about accounts receivable and its relation. I have always been under the impression that liquid assets referred to funds held in a bank account ones specific control. But, I recently read something that is casting doubt on that.
I want to start a used car dealer business. To save the
I want to start a used car dealer business. To save the start up cost, I decided to join a existing used car dealer. The used car dealer's owner saying that he can make us salesperson license and then will be able to buy and sell used cars.He said I can set up our own corporate and checking account. When customer buys our car, the customer has to pay to his company and then he will write a check to us. But what if he collects money but don't pay us? is there a way to make it secure about this payment issue?Also if I set up our own corporate, I will have to file tax return as used car dealer but we don't have the license, will I get in any trouble with this?
Can you please explain to me in laymen's terms what is
Hello,Can you please explain to me in laymen's terms what is stated below? This is from an LLCA from an LLC that consists of 3 equal members."3.3 Limitations on Distributions. The Company must not make a distribution to a Member if, after giving effect to the distribution:A. The Company would be unable to pay its debts as they become due in the usual course of business; orB. The fair value of the Company's total assets would be less than the sum of its total liabilities plus the amount that would be needed, if the Company were to be dissolved at the time of the distribution, to satisfy the preferential rates upon dissolution of Members, if any, whose preferential rights are superior to those of the Members receiving the distribution."
I am starting an LLC and I am planning to use one of my
I am starting an LLC and I am planning to use one of my personal cars for marketing of my LLC. I want to know what is the best way to get tax benefits on the work that will be done to repair the car for any existing dents and scratches, adding new front and rear bumpers, getting it painted to look professional and then adding the marketing banners to it. Is it better to sell the car to my own LLC or should I take text credits for using the car for business purposes.The car will be used 80% percent of the time for marketing. I maintain 2 cars at home and I can stop using the LLC car for any personal use, if the tax benefits are huge that way.Lastly, if I sell the car to LLC, is there a way to use that car for occasional personal use?
I'm bringing on a new partner to my S-Corp to have 30%
I'm bringing on a new partner to my S-Corp to have 30% stake in the company. Currently, I own 70%, and the company owns 30%. We'd like to change it to the company = 10%; new partner = 30%; and I = 60%. Is there an easy way to accomplish this? Do I need to sell him 10%, and then have the company sell him 20%? Or is there a method to just do one transaction for him?
I want to start my own transportation service in theView more business law questions
I want to start my own transportation service in the Worcester, MA area. I want to know, the order and steps to acquire specific licenses, permits, insurance I'll need? Where to apply for required items, local city or state offices? I'm holding off on buying the vehicle, small sedan or minibus, until I have the above information because I'd want to know if once the necessary requirements are in place, will the vehicle I purchase qualify as capital and eligible for any tax purposes at year end?JA: Have you talked to a lawyer yet?Customer: No, I'm in my local library researching. Recently I settled a workman comp case, and mentioned this to my lawyer the idea of using settlement to start my own business. I asked him if he could put me in contact with anyone he might know that could help with this, he told me he'd get back to me if he had a lawyer to refer me to.JA: Anything else you think the lawyer should know?Customer: I'm setting up the business to allow me flexibility along with an income, in order to pursue other interests, goals, I'm turning 54 end of the summer and no longer want to work for others.JA: OK. Got it. 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 Corporate Lawyer about your situation and then connect you two.