The Company suffers a 100K loss and my share means 60k loss is past to me... would I be affecting my personal AGI by 20k or 60k? If I had 50k actual income would my AGI tax liability be zero 0 or would it be 30k??? Thank you for this service and your input.
You should consult a tax attorney to advise you on the LLC being taxed as an S corporation with the LLC terms and potential legal peril of an S Corp having two types of stock. Generally, your loss is limited to your basis. I hope this helps. Good luck. Zaher Fallahi, Esq, CPA (CA &D.C.).... Read more »
The bike was advertised as a 2003 when it was a 2001. Bike was advertised as excellent condition with no issues. The bike has a major oil leak that only shows up after riding it for 15 minutes or more.
You have a lot of issues about the purchase of this motorcycle. Perhaps you should just sue the seller in Small claims and put it all before a judge there, because apparently it is not worth enough for you to retain an attorney to assist you to sort this out. The other post about the DMV manager... Read more »
A couple months ago, my place of business started a mask policy, but never enforced it. There were only a few people who wore a mask. Many higher-ups, who even started the policy, didn't wear the mask and considered the virus to be a joke. Today, somebody in the company has tested positive and... Read more »
These are new questions facing the court, but depending upon your injuries or specific facts, one of two scenarios is likely. Either, (1) you can file a suit for something like negligence, personal injury, or wrongful death against the employer, or (2) you can file a workers' compensation... Read more »
I work for a hvac company. We have a maintenance contract. (Prepay for annual services) With that, customers have the option of making payments monthly via auto withdrawal. In our contract it states if more than 2 payments are missed, the plan is canceled. We offer 5 year and 10 year plans. My boss... Read more »
Please note that I am not your attorney, and this conversation does not create an attorney client relationship. The issues discussed here are general ideas based on a very limited set of circumstances. Normal discussions with an attorney will produce better results as the attorney knows what issues... Read more »
We wanted to hand out gift baskets to our neighbor offices and were not sure if it was copyright infringement ?
You're correct that this is a business law matter, but your post remains open for four weeks. There's no guarantee all posts are picked up, but you might have better chances of a response if you reposted and added Copyright and Trademark as categories. Good luck
Tim Akpinar
I have a business called Crossnik Media. We are getting ready to run an introductory ad with the goal of getting some brand recognition for our new local business in Midland, MI. At the end, we say "Welcome to Crossnik Media", because throughout the ad, we're explaining our... Read more »
In order to give definitive advice to you I would want to know all of the facts, including your proposed use, but I can say for certain that the bank does not have exclusive rights to that the word "welcome". I don't see any possibility of confusion if you are using "welcome... Read more »
how to find whether it’s the phrase, or actual product itself that’s trademarked, copyrighted, and/or patented
The USPTO may be searched to find federally registered trademarks. Trademarks may also be registered in individual states. However, it is important to remember that even unregistered trademarks have common law rights against infringement. If a trademark is confusingly similar to another... Read more »
My trademark application is live and pending yet I recently realized someone with a similar name like mine, they just changed the last letter on the word, so instead of Y they replaced it with an E. So can I send a cease and desist even though my application is pending yet live? The other company... Read more »
The use of a mark which is similar in sight and sound used for similar goods and or services is infringement. Is the other mark used for sale of similar goods and or services?
I signed my commercial lease to open a boutique fitness studio in March 2020, right before the locked down that no one could have predicted at the time I signed my lease. Due to a number of factors I still don’t have possession of the place, haven’t started buildout and my commencement period... Read more »
Understood ... so, your first step is to engage an attorney of your choice to schedule a free initial video call consultation ... which starts with you emailing us a copy of the signed commercial lease ... you have several options depending upon the signed lease and the surrounding facts and... Read more »
Since I would be 1099 how do I set up an LLC and who or what agency do I use? I know in Florida you can do it online. I’m assuming I would also be able to write off things such as internet, cell phone and any office supplies as part of the LLC
Hello and thank you for using Justia. You mention that you recently moved to Puerto Rico. One of the requirements for incorporating is the need for a Resident Agent of the corporation and an Incorporator, thus it must be a legal resident of Puerto Rico. (Living in Puerto Rico for more than 6... Read more »
I began to occupy a mobilehome, that I later purchased, for approximately 5 months prior to denial of my application to rent the space. I notified management of my occupancy, in person, in February and received no objection until August, 2 months AFTER denial of my application in June, and in... Read more »
There are property rights that can be gained through the concept of "Adverse Possession," but these rights take years, not months. I don't see how the management company can force you to move out of a motorhome that you own, but without a lease, it can certainly force you to move the motorhome.
I am one of three directors. Since he had the tie-breaking vote, he picked the other two.
You don't say where your corporation is incorporated, but as far as I know, upon organization, the shareholders can draft their by-laws and share holder's agreement anyway they want. If you agree that this 50% shareholder has the deciding vote, then you are stuck with it. Typically the... Read more »
You should definitely look into insurance. An attorney cannot make that decision for you, but you will be dealing with a product that could cause allergic reactions or other types of injuries. At least contact insurance agents and discuss coverages for the types of risks that could be encountered... Read more »
Suppose you own a graphics design company, BIG Designs, that designs and installs advertisements and billboards. Back in January 2020, you were very excited to sign a $10,000 contract with the city to publicize a series of concerts in the parks. The ads and billboards would be installed in March to... Read more »
Did the contract have a clause excusing performance (payment) by the city if certain events occurred such as Acts of God? See counsel for an analysis of the terms of the contract which may excuse the city or which my require them to pay regardless of a particular event.
Owner of business wants to sell company and business assets to me. Business debt is greater than asking price. Asking price takes care of owners personally guaranteed debt, and there would still be $80,000 in an outstanding EIDL loan. Would I be inheriting the debt with the company? Or should I... Read more »
I pracrice in PA, but almost all states have some version of what's also called a Bulk Sales Law, and by that law, a debtor cannot sell all, or a substantial portion, of his business assets and leave creditors hanging, so the law provides that the debt follows the assets. Even where a state... Read more »
Owner of business wants to sell company and business assets to me. Business debt is greater than asking price. Asking price takes care of owners personally guaranteed debt, and there would still be $80,000 in an outstanding EIDL loan. Would I be inheriting the debt with the company? Or should I... Read more »
You have proposed a knotty problem in a few sentences.
It matters if the company is a corporation, LLC, or the like
It matters if there are assets such as inventory
It matters if the debt is secured
It matters if it is an assets purchase only
It matters if... Read more »
The hotel has told us we have to stay somewhere else for a few days due to there 28 day policy but can come back after a few days. We have been here for around 5 months and after about 30 days we stayed at another hotel for two days and came back, stayed for around three months and was told we had... Read more »
The issue here is that they do not want to become long term landlords because if they do then they would be subject to a whole different body of law that would regulate them. You will be better of finding an apartment somewhere else. Best of luck.
Used it for what?
Is the lashboss trademark available??
You’ll want to do a trademark search to be sure. You can do this yourself and there are books and resources that provide guidance on how to do so (you don’t want to just search the USPTO database because that won’t cover all potential threats to your trademark, although it’s a good start).... Read more »
We are a franchise restaurant located in Ladera Ranch Orange County California.
One customer came to our restaurant without the mask, so we asked him to cover his face.
He refused it due to medical condition. we never forced him to wear it, but asked him to place the order online.... Read more »
IMO you did not do anything wrong. There are Executive orders in place in California for people just like this person to wear a mask, especially in an establishment that serves food. He just does not want to wear it. If he has such a condition that he cannot wear a mask, he should provide you... Read more »
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