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.
I need some clarification again, please in regards to
I need some clarification again, please in regards ***** ***** name filing for an LLC. I read via the SCC site that if a name is ***** ***** name of the owner it doesn't need to be filed. In my case it is my First and Middle name. If it makes a difference, my LLC filing or documentsdo include my middle initial or middle name on it. In this instance is a it necessary to register a fictitious name with the state? State is Virginia.I just need to know if my name is "Jane Dane Doe" and I do business as "Jane Dane" under my LLC do I need to register with VA State Corporation Commission? I am not sure since VA law states if you are using your name you don't have to but I need to make sure.I did already file a certificate with the county just to cover myself.I asked this earlier, but now am more confused and I need to know so I can go and handle this in the morning.
I have a particular situation, and I want to protect myself
I have a particular situation, and I want to protect myself as best I can, from being sued.I am a very small business (sole proprietor) and I sold a piece of equipment to the buyer, using a contract that included my 6 month warranty covering parts and labor for any manufacturer's defect in the product. The original and actual manufacturer's warranty had expired. This means that . . . . In the event of a manufacturer's defect, that I would pay for the parts and labor to get the equipment repaired. If anything happened that was not due to a manufacturer's defect, I would not be responsible for the repair.During the 6 months warranty period, the piece of equipment became severely damaged.I told the buyer where to send the equipment for repair . . . to first have the repair facility assess what happened, to first determine if this was a manufacturer's defect, or some user-error. I did not attempt to influence their findings in any way. I did not even tell them anything about my warranty, etc. . . The repair facility assured me that this was a case of user error and not a manufacturer's defect.I explained to the buyer in detail what they discovered about the fault being user's error.The repair is expensive to fix ( $6,000 ). I explained this situation to the buyer (by phone and email). I even said that because I feel badly about this happening, that I would pay for part of the repairs. The buyer's thinking is that he did nothing incorrectly and that I am fully responsible for the repairs. He has ceased communication with me – does not respond to my emails or phone calls.I am expecting him to sue me, and I want to better my position now, to better protect myself from a lawsuit, if possible.The buyer lives and works in Georgia and I live and work in California. Our sales contract also states that any dispute will be resolved by arbitration in the county where I live and work.My goal is to avoid a lawsuit, or make me less of a target for any attorney he will try to hire.Right now, the main area of vulnerability that I think I have is as follows:If he takes the position that he sent the equipment back (he did send it, but not to me, he sent it to the repair facility = manufacturer) and therefore he may take the position that the equipment is no longer in his possession and therefore he has grounds to demand a refund. I am thinking he would sue me and the manufacturer / repair facility (because they have deeper pockets).I want to reinforce that he is the owner.My concern is that possession is 9/10s of ownership and he is no longer in possession of this equipment.To address this and to clarify the ownership verses current possession . . . . . . I was thinking to advise him that after next week (30 days at repair facility) there will begin a storage fee charge. And then begin to bill him monthly or weekly for storage fees. I think this helps to clarify that he is still the owner, even though he may say that he sent the equipment back.And the fact is that this equipment has been at the repair shop for almost 30 days and something needs to be done about that. There is no reason he would accept it if it were shipped back to him – it is useless until it is repaired. So I need to motivate him to do something: . . . . written permission to dispose of it, or . . . something.Is my idea about charging him for storage to continue to show his possession, a sound idea?How to dispose of, or sell for parts, this un-usable equipment without further prompting a lawsuit?Geoffrey
I am a web designer and created a website, graphic material
I am a web designer and created a website, graphic material (primarily a logo), Facebook page, and email list for my husband's business. There was no contract. The domain name for the website is the same as his business name. He has a sole-proprietor, no trademark. The domain name is ***** ***** my name. The website is hosted on my server. I registered a copyright on the logo in my name.Prior to building the website, I paid $5,000 towards his business start-up fees, as well as $2,000 towards his immigration application. He promised to repay these amounts. I created the website to help him establish himself and our verbal agreement is that once his business began to earn money, he would repay me.He has been earning money for 10 months and he did not repay me.We separated 6 weeks ago.He will not agree to signing our separation agreement, which partly outlines repayments of his debt to me, until I give him sole ownership of the website and marketing material. I have asked for payment towards the website before giving it to him.His lawyer says they will take me to court unless I give him sole ownership of the website. Am I obligated to give it over? What are my rights (copyright, domain name ownership, etc)? Is there a Family Law loophole of which I am not aware?
As a sole proprietorship, do I have any obligation if we
as a sole proprietorship,do I have any obligation if we want to hire an international student as intern (through OPT) ?Do I have to get an EIN or I can use my SSN ?Do I have to pay social charges or taxes if I pay him/her ? (like if I was hiring on W-2).In my understanding, I can use my SSN and there is no charges to pay, as his school is sponsoring the internship. But I can pay him/her as I like (no charges/tax for my company to pay).
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
If I wish to launch a remote company with remote employees,
If I wish to launch a remote company with remote employees, what are the benefits to incorporating in the United States?If there is no clear benefit, what's the best country to incorporate in?How do employee laws apply to remote employees?A long time ago when I first wanted to launch my business I got an EIN and sellers permit, if I wish to incorporate elsewhere how are these things affected?
I have a business in Instructional Media Development that
Hi,I have a business in Instructional Media Development that plugs along (LLC in Arizona, Sole Proprietor) and tax write-offs are against my wife's income combined with mine from the business). File# ***** if you'd like to see it, "Business Type: " is blank. However, I'm also an inventor and I'm pushing for license agreements on my inventions (multiple and in different areas). This is clearly a new scope of business, but I'd rather not start a new business. (Maybe just revise the name - I have done that once already). So how would our joint married taxes work this year? Can I lump it all together or do I need to spell separate schedules for difference expenses and income - on the same LLC?Thanks,John