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Recent business law questions
I just realized I did not pay my social security and
I just realized I did not pay my social security and medicare withholding taxes for the last4 years. What should I do..I am a sole proprietor private business owner who made altogether for those years about $30,000
I'm a sole proprietor, I fix Widgets at my customer's
I'm a sole proprietor, I fix Widgets at my customer's location. My apprentice is mortgaging a business property. He proposes that customers can their widgets to his building to be fixed by him. He would like a 50/50 deal in which he uses my equipment, training and guidance to fix the Widgets customers bring in.However, Widget Fixing is a seasonal business (heavy in fall and spring / lax in winter and summer). I don't want to 50/50 my established or future onsite Widget fixing business, only the "At his location" Widget fixing.I am cautious, because I believe that the monthly utility bills, mortage payment, etc will trickle in and leave my partner feeling shafted. Right now, he is excited and promises he will pay the mortgage and utilities "to start out with".This, to me, is a rather splintered way of proceeding, but I'm lost as to how to resolve my concerns. Thanks
Good morning, are you really there? JA: No. I'm the
Good morning, are you really there?JA: No. I'm the Accountant's Assistant.Customer: a computer then?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I want to trade as a hobby, what is the best approach? An LLC?JA: Is there anything else important you think the Accountant should know?Customer: I live in TexasJA: 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 Accountant about your situation and then connect you two.
Considering forming LLC in California (home state). Will be
Considering forming LLC in California (home state). Will be bringing scape precious metal off-shore and smelting to yield gold, etc. I have already California company and hold federal and state licenses for alcohol, so I think I can pass the Patriot Act requirements (I see smelter companies requiring this beyond setting up company). I understand there is no duty or restriction on importing gold or other precious metals, but government keeps on eye on such commodities (I believe). Want to do all above board. If the scape provides valuable then I can acquire more. This may be a generous money-making business and if so, believe I need to incorporate. My current business is a simple sole proprietor, but in this venture I will have one equal partner. If I understand correctly incorporation protects against law suits, but who will sue us? We bring scape to smelter and they yield analysis and gold (or money if I choose). Anyway LLC seems the best entity. Pass through profits to my mate and I. I see everyone heading to Nevada but that means double filings and all of my work here in California. Does the above make sense? Do I need corporation and if so, then LLC?
I have an opportunity to become an export agent and
Hello,I have an opportunity to become an export agent and need advice on what I need to do to make this happen. Some backstory - I live in New York but have a family member in Russia who runs a logistics/frieght forwarding company. He has a client in Russia who needs farm machinery and parts and wants to get them from a business here in the US. So they need an export agent (me) to be a middleman and help make this all happen. Note - this is my understanding, I may be slightly wrong with the details of how this all works.My question - what licenses/requirements are necessary to become a "known shipper" and "exporter of record" in New York? Thanks in advance for any information/advice!!
In regards ***** ***** LLC: I have just formed a LLC, pursuantView more business law questions
In regards ***** ***** LLC:I have just formed a LLC, pursuant to NRS Chapter 86, on behalf of my uncle who is not a U.S. citizen, or lives in the U.S., but owns, free and clear, a single residential property in Las Vegas, Nevada, used as a vacation home (not a rental). The purpose of this LLC is to, at least for now, hold this real property and avoid probate in the event of his death. I am in the process of submitting the initial annual list of managers (due about 45 days after my filing date), as well as the operating agreement which includes the contribution of all 4 members of the LLC (my uncle, his wife, and two sons-none are managers), and the allocation of profit and loss (60%, 20%, 10%, 10% respectively). I am the agent and single manager at this time, and totally lost, as I have never done this before. Here are my questions:1) This LLC will only hold a single real property and will conduct no other business, do I still need a business license?2) Are we required to have an EIN #? None of the members are American, and none have a social security number.3) Do the business license and EIN, if required, need to be filed by the same deadline given for the filing of the initial annual list of managers?4) If my uncle plans on transferring his real property to the LLC do I have to add the property as a contribution at this time? If so, which value should I use, the purchase price or the new estimated value of the property?5) Is there a minimum contribution for each member or can it be zero? If the LLC has no assets at this time (liquid or otherwise), can I put zero contribution for all the members?4) Once the LLC is completed and all required documents are in place, how do I transfer ownership of real property from my uncle's name (sole proprietor) to the LLC? The main goal is to avoid probate.