My friend is starting up a business, he’s doing good and now needs a shop to work. He does not have the credit to lease a place. He asked me to help him lease in exchange for 10% of earnings. What would I have to report to the IRS or does his total earnings affect me in any way? I am aware I’m... Read more »
Although not mandatory, I hope you have this agreement in writing. The 10% payment in exchange for co-signing a lease is considered in the broad definition of gross income. So, the short answer is yes, it must be reported to the IRS. Your friend may also have an obligation to issue you a 1099, so...Read more »
If you hire an attorney to either review one or to draft one for you, then you know it covers you appropriately. If you don't, there is always the chance that your document will miss an important legal clause or section that it needs to give you the protection you need. I know it costs more...Read more »
Related to the sale of business. The information missing is the period of time the covenant covers. The purchase agreement lists the individuals, but is missing the period of coverage. Does that make it non binding or what is the default period of coverage if there's no amount of time listed.
Generally speaking, the "period" of time will be partially determined by the allocation for that item in the purchase agreement, absent that notation, it will be a reasonable time, based in part, upon the total price paid and how the price was or should be allocated to the tangible and...Read more »
We would like to know if NpO has existed for three years ,but has not registered with AG for three years, but it has been taking donations and other activities (jot much formality or normal meeting records keeping as you may guessed) , we want to know the consequences if this not not registered... Read more »
There are a lot of issues here. If this were to come into my office, we would probably spend a lot of time just talking about the facts and history before giving any advice. And the advice would depend on whether I am speaking to an officer, board member, donor, member of the public, etc....Read more »
Hi. On the cover sheet of filing this election of wind up and dissolve, it stated that one can file in person with$15 handling fees. Where do you go to hand it in in person? The PO box is in Sacramento. Do we have an office of SOS in Ventura or LA for in person filing ?
There is an office in Los Angeles, but the Secretary of State limits what items can be filed in person at that office. That office "distributes forms and informational materials" and will accept drop off of "corporation name reservation requests," "Articles of...Read more »
1 major loan company called me 3 times a day after they denied my new business credit to offer my business credit then they tell me I don’t qualify. The next day that same company that denied me over the phone sends me a very elaborate message that my business is qualified for 255k at 3.5% and... Read more »
Block their phone number on your cell phone and don't answer their calls on a work or other landline. They are obviously not professional. Be cautious about companies that say you are "pre-qualified for loans" because those ads almost always say, IN SMALL PRINT, there is no guarantee...Read more »
In my other question Matthew has said to go back to article of incorporation (AOC). I am a member with voting rights. AOC is not posted on NPO website. I researched in state web site and I don’t see it. Where can I find it? Is it possible they never has AOC? Isnt AOC provided by the state when... Read more »
Here are a couple ways to find a copy of the articles of incorporation. The most direct method is to demand to see them. Under California's nonprofit law, the organization is required to show them to you as a member. If there is a "principal office," they have to keep a copy at...Read more »
Members requested the board to be elected and worked on writing up a bylaw on Mar 1, 2022. Board did no reply to election request. Then on Apr 5 out of blue published a bylaw, dated March 12, that will allow them stay in power forever. Is the board legal since they should have held election on... Read more »
This is a complex question, and there are a lot of variables that might affect the answer that a nonprofit lawyer would give you after looking at this deeply. Let me talk through some of the issues that seem to be at play here, but there might be other issues that are not obvious from the limits...Read more »
Do you have a partnership/LLC agreement signed by both parties setting forth that you were partners in the business? If so, your remedies should be criminal prosecution for forgery as well as a civil suit to recover what was stolen (converted) from you (e.g. your business assets/profits).
According to the FBI, distributing "fake" COVID-19 vaccination cards is illegal because there are two official government seals in one of its corners. If an individual were to sell cards that closely resembled originals, except the cards did NOT have any government seals, would... Read more »
No, California is a two-party consent state, meaning that both parties to a conversation must give consent to have a call recorded. Some people record calls without the consent of both parties, and the result is that the call may not be used in evidence against the non-consenting party in a legal...Read more »
It’s getting really bad now, I’m struggling & trying to fix, she’s calling & posting mean things on FB, texts. I need to know what can I do. Not trying to put her into the business losses but she’s Harassing me in which I do understand but I can’t focus I can’t sleep and I... Read more »
If she's' posting comments that are untrue on Facebook, you may have a defamation claim. There are also laws limiting how and when a creditor can contact you regarding outstanding debt. You can hire an attorney to send her a cease and desist letter.
the competitor's business offers a completely different service than what mine offers, but secretly created advertisement to steal our clients and offer our services in their establishment without proper licensing. i need to bring this issue up to my landlord to address the conflict of... Read more »
I don't see a question in here, however, unless you have an agreement not to compete you don't likely have a claim against a competitor business. If you have proof that the other business is lying in its advertising, you may have a false advertising/unfair business practices claim.
Read your lease agreement because that is the contract between your landlord and you as to who is responsible for what. In most cases, but not all, the landlord is responsible for the physical building and the tenant is responsible for all the contents within the building. If you have renter’s...Read more »
Generally, I'd say that not a lawful move. You may want to see all agreements you signed or signed off on and have them send their written policy on this to you and where you can find it in the contract and/or online...
I started on April 12th, 2021, and signed an offer letter to vest on the first anniversary Due to low stock price the company decided to grant us RSUs. The amendment states the RSUs shall be vest upon the first anniversary of your employment date. However, the company is telling me I will not vest... Read more »
It would be extremely reckless for any attorney on an internet Q&A site to give you specific advice about how to proceed related to a written contract. The contract and the other circumstances of its making must be understood to give such an opinion. If you need an answer to this, you will...Read more »
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