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Recent S Corporation questions
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?
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.
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?
A privately held corporation is trying to avoid an
Hi there! A privately held corporation is trying to avoid an involuntary dissolution by coming to a buy-out agreement between the minority shareholder and the majority shareholder. How can such an agreement be structured to include all of the corporate assets, and protect the seller in case the buyer dies or otherwise becomes unable to fulfill his (buyer) obligations?JA: Because laws vary from state to state, could you tell me what state is this in?Customer: IllinoisJA: Have you talked to a lawyer yet?Customer: I am a lawyer (smile) - but I rarely involve myself in the civil side. I am attempting to advise an acquaintance (seller/majority stockholder)JA: Anything else you think the lawyer should know?Customer: The Corporation is involved in equine transport and horse racing. The bulk of the corporate assets are the horses themselves. Clearly an independent appraiser must be appointed to evaluate each animal, determining then, the value of the coproate assets. What can be done in the interim to protect these assets from removal/disposal or anything that would disadvantage the majority shareholder/seller?
I am working at medical clinic that my husband is CEO. Is
I am working at medical clinic that my husband is CEO. Is there any possibility for them to sue me or I get in truble if I bring the documents I got through work in order to prove he is hidding income in family court? We are middle of divorce in CA.
I have a client who is a partner in a California Law Firm
I have a client who is a partner in a California Law Firm which is a PC. He is now 66 and wants to come off the group plan and go on Medicare(he will continue to work full time) . Can the law firm pay the Medicare Premiums along with the Supplemental Blue Shield Plan F premiums and get a tax deduction. This is much less than group insurance and provides greater benefits.I thought ACA prevented thisthanks
I am a pro se plaintiff vs a large corporate defendant. IView more business law questions
I am a pro se plaintiff vs a large corporate defendant. I believe they have had to resolve numerous cases like mine, but they have required the other victims to sign non-disclose or non-disparage agreements as part of their settlements.I wish to prove a pattern of their similar malfeasance.Question: can I subpoena testimony and documents from either the defendant or their other complainants regardless of the settlement agreements?Would doing so typically put their other victims at risk of violation of the agreements?Thank you,Paul