Dear Business Atty: A couple of years ago we worked for an
Dear Business Atty:A couple of years ago we worked for an LLC franchise. We ended the working relationship at the end of June 2012. They had told us that once we filed our LLC business return w/ the state & federal that we would be able to get our security deposit back. Needless to say it took a few years for us to file since we moved around & misplaced some documents in order to file. Just last week, we had our CPA filed our return & submitted a PDF copy to them. Their reply was that we had 2 years to close out our account & that we've incurred penalties & interest since then. It's understandable that we would incur penalties & interest. The thing that makes me nervous is that they don't want to give us back our security deposit. Our CPA says there's no time limitation on filing our return so I'm pretty sure they're doing what they can to not refund our deposit. We're in a dilemma & need legal advice on what steps we should take next. Please help.
I owe back 1040 taxes, back corporate trust fund taxes and
I owe back 1040 taxes, back corporate trust fund taxes and been assessed civil penalties on those corporate taxes. I have some money now so which taxes should I start paying first? I can't pay them all at once.JA: What state are you in? And have you consulted a local attorney?Customer: kansas and working my cpa who is an ea with the irs. Just received my account transcripts from the irs and have not had a chance to discuss with cpa.JA: Has anything been officially filed? If so, what?Customer: years include 2010 to 2013 and several tax liens filedJA: Anything else you want the lawyer to know before I connect you?Customer: no
How can non-resident LLC in US open a business bank account?
How can non-resident LLC in US open a business bank account? As I understand I need a US signor. My CPA is ready to do that. But I'd like to know what are the risks? What I have to do to make this 100% risk free for us?JA: Can you tell me what state the LLC is registered in? The Corporate Lawyer's require payment for their services. It's way less expensive on JustAnswer than face-to-face would cost.Customer: ArkansasJA: Has anything been officially filed? If so, what?Customer: what?JA: Anything else you want the lawyer to know before I connect you?Customer: No
Wow. Are you real? This is my first time to this site. ok.
Wow. Are you real? This is my first time to this site.JA: No. I'm the Lawyer's Assistant. What state are you in? It matters because laws vary by location.Customer: ok. San Antonio, TXJA: Has anything been filed or reported?Customer: No.JA: Anything else you want the lawyer to know before I connect you?Customer: should I ask my question to you? Looking for a corporate lawyer to ask a question about creating a company in dealing with securities
Counselor at Law
I am doing accounting for a CEO of a company. I am not a
I am doing accounting for a CEO of a company. I am not a CPA. The business was a corporation from 1998-2015 & its is now a single member LLC for 2016. This CEO has been taking money from the business (in addition to his normal salary) via direct transfers into his personal bank account and by using the company credit card for personal expenses for maybe 15 years now. His employees do not know, but his has often not paid them salary or paid them partial salary while he also take a pay cut "via payroll", yet he subsidizes his missed pay but taking money out of the corp account or using the company card. I have tried to account for these "transactions" as loans that should eventually be taxable income for him. In some instances he makes the company "forgive" the loan, or if he does report the money he has spent personally (not all that he has spent personally, just a portion of it) on his returns, he then takes the money out of the company bank account to pay his personal taxes. I keep telling myself "Well it is his company, he can do what he wants", but is this true? Can he really do this? Is it legal? I mean you can't steal from yourself can you? Can he be liable for damages or sued? Could he even go to jail for this? Am I liable since I know about all of this?
My husband wrote a few screenplays for a genre movie
My husband wrote a few screenplays for a genre movie producer, and had written agreements that guaranteed him a small part of any income the producer got from video sales and occasionally cable TV showings. There were also some unproduced screenplays that might have have been produced by now. He would get checks occasionally. My husband died in 2011, and I am his sole heir (and the writing was done while we were married). There have been no checks since he died. Either the movies have made no money, or the producer is holding back. My husband wasn't a member of the Writer's Guild, but he always registered his screenplays there. Can I find out if the movies made any money in the last 5 years, some how, without asking the producer?
How does an S corporation revoke shareholders shares? NC,
How does an S corporation revoke shareholders shares?JA: What state are you in? And have you consulted a local attorney?Customer: NC, yes I have, he advised I have an official audit done on the company (embezzlement). I've spoken with several CPA'S, they don't do those type of audits.JA: Has anything been officially filed? If so, what?Customer: NoJA: Anything else you want the lawyer to know before I connect you?Customer: I own 50%, my father owns 25%, my mother owns 25% (the shareholder that is embezzling money)
Need to know something about this clause in my loan Annual
need to know something about this clause in my loanAnnual Financial statement and tax returnsFurnish lender within (a) 90 days after the end of each year Borrower, its Financial statements As of the end of and for such fiscal year and (b) 30 days after the filing thereof with the applicable government authority, its annual federal and state tax returns. Such Financial Statements will be prepared on a compiled basis in accordance with GAAP by an independent certified public accountant by Borrower and satisfactory to Lender. Audited Financial statements shall contain the unqualified opinion of such independent certified accountant and all accountant examinations shall have been made in accordance with GAAP consistently applied from period to period
I am a sole proprietor dentist. I purchased $181,000 in a
I am a sole proprietor dentist. I purchased $181,000 in a equipment in 2011. My tax preparer did not depreciate this over mulitple years but instead listed it in full during 2011 resulting in a huge loss of savings for me.