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I live in North Carolina, and I'm married. In 2023, I took out an individual loan of $20,000 in my name only to purchase cryptocurrency. I would like to gift this cryptocurrency to my daughter. There are no specific terms in our marriage regarding financial decisions, and I have primarily... View More 
answered on Mar 28, 2025
The IRS allows you to gift up to a certain annual exclusion amount per person without incurring federal gift tax. For 2024, that amount is $18,000, and for 2025 that amount is $19,000. If the cryptocurrency's value exceeds this, you'll need to file Form 709, but you might utilize your... View More
I need to know if there is a specific form required in North Carolina to file a Motion to Stay Execution on a money judgment against my LLC. I have three judgments totaling around $500k. One judgment is being settled, but the other creditors are not responding. I have not filed any motions yet. All... View More
answered on Mar 12, 2025
No, there is no "form". I have answered your question before a few weeks ago, and an out of state lawyer provided a thoughtful answer. If you refuse to file bankruptcy you need to hire an experienced attorney to help you, this is too difficult a Motion to attempt to do on your own. A... View More
I need to know if there is a specific form required in North Carolina to file a Motion to Stay Execution on a money judgment against my LLC. I have three judgments totaling around $500k. One judgment is being settled, but the other creditors are not responding. I have not filed any motions yet. All... View More
answered on Mar 10, 2025
Most "forms" are a trap, trusting you to choose what may be relevant to the Court. Most courts have rules that prohibit offers of proof on matters not well pled in the forms.
And a pleading almost certainly triggers a court hearing.
On top of that, most lawyers will... View More
I want to turn my s-corp into a woman owned company by bringing in my wife as the 51% share holder. This is in order to win contracts that are only open to minority and women owned companies.
answered on Dec 3, 2024
It depends on a number of issues. First, what type of entity is your company? Is it an LLC or Corporation? Either can elect to be an S-Corp as this is simply an election on how to be taxed by the IRS.
Either way, it would be wise to add your wife as an owner by creating a set of company... View More
Are there certain things I need to be aware of or do? I have a business now in NC but would like to start a new one and also register the same (thats operated in North Carolina) one in New York and Florida if possible.
answered on Jun 12, 2024
As a resident of North Carolina, you can start an LLC in New York or any other state, but there are several considerations and steps to be aware of. First, you can form your LLC in any state, but you should consider the legal and tax implications; states like Delaware and Nevada are popular due to... View More
My mom died last year, and was 25% owner of a family shopping center. Since my mom's death, my Aunt Janet has substantially reduced the dividend she is paying me, she has claimed that my 25% is not enough for me to even have the right to see the banking records or financial statements now... View More
answered on May 2, 2024
A North Carolina attorney who deals with business law and business organizations (Corp, LLC, etc) could advise best, but your question remains open for five weeks. A starting point could be to reach out to law firms to review your paperwork, your business partner's actions, and outline your... View More
...remove myself from the liabilities incurred by the other party if he continues without my agreement, before the formal dissolution?
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answered on Apr 5, 2024
In a 50/50 S Corporation where you and your partner disagree on the future of the company, it's important to protect yourself from potential liabilities if your partner continues to operate the business without your agreement. Here are some steps you can take:
1. Consult with a... View More
I want to start dropshipping cheap manufactured homes from chinese websites but I wonder if I need a liscense, LLC, ect to legally operate the buisness. Any insight?
answered on Feb 12, 2024
You can likely do this as a private individual. However, I would highly recommend forming an LLC to give you some legal cover. You should also have an attorney draft a contract that makes it very clear you are disclaiming as many warranties as possible regarding the condition of the homes. There... View More
I got a car for my son November 2022. All payments have been made, on time. But starting in December 2023, they keep contacting me saying I'm behind and and contacting me saying "if I need help making payments I can send a friend in and if they buy a car I will get $200.00". Is this... View More
answered on Dec 4, 2023
Take proof of all of your on time payments to them and speak to them about this. To cover yourself, you could mail in the proof with a letter complaining about the situation and asking them to stop the unjustified messages (get a tracking number and pproof of delivery). The "help making... View More
I initially filed for bankruptcy in July 2023 because I couldn't keep up with my car loan payments. While I made my monthly payments from August to December 2023, I filed a motion to dismiss the bankruptcy in January 2024 once my financial situation improved. Unfortunately, my creditor refused... View More
answered on Mar 7, 2025
Probably should refile the bankruptcy, possibly as a chapter 13 depending on your current financial situation.
Bought a suit and within the hour changed my mind, went to cancel/refund and only then was I informed about their “no refund policy” but was instead given store credit. Just seems awfully sketchy on their end if there’s nothing that can be done.
answered on Jan 8, 2025
A North Carolina attorney could advise best, but your question remains open for two weeks. It could come down to a matter of whether the store used adequate measures to give the public notice of their refund policy. Since the pandemic, some stores have implemented stricter return policies. Good luck
I know that outright copying and selling is not legal. But what are the laws regarding scanning an object and improving upon the scan, or modifying it, and then 3d printing it to sell?
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answered on Nov 2, 2024
If the average layman or person cannot tell the difference between the original object and the 3d printing, then it may be illegal. It depends on the full circumstances of how the original object is used and its consumers, compared to how the 3d printing will be used, and its market.
I was wondering if I could hire qualified people to work for my security guard business without having a security license myself.
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answered on Oct 20, 2024
Starting a security guard company involves several important steps beyond just hiring qualified personnel. First, you need to ensure that your business complies with local and state regulations. This typically includes obtaining a business license and registering your company with the appropriate... View More
15. Term and Termination. This Agreement takes effect immediately as of the Effective Date, and remains in full force and effect until the Contractor has completed the Services (the "Term"), unless earlier terminated under this Section
This Agreement may be terminated by either... View More
answered on Jun 13, 2024
You will have to speak with an employment lawyer and show them your full employment contract; any advice based on one clause of a contract is all but useless.
answered on Apr 8, 2024
It depends on the corporation's bylaws and what you agreed to do when you were appointed as the registered agent. Speak with a local lawyer to get a better idea of your specific situation.
answered on Jan 16, 2024
A North Carolina attorney could advise best, but your question remains open for four weeks. Some questions on this forum go unanswered, but you could try reposting under the Probate and Estate Planning for better chances of a response. Good luck
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answered on Nov 10, 2023
A late fee can only be charged on an invoice if the payment is more than 30 days past due. However, the parties to a contract may agree to a different grace period.
I'm wanting to open a distillery but only want to have one small still to produce vodka, rum and gin
answered on Aug 17, 2023
The size is governed by your local zoning laws. I do not beleive that the NC Alchololic Beverage Commission has any minimum size regulation. You also have to obtain a Federal permit before you can get the North Carolina permit.
You can find information about the permitting process at... View More
Didn't pay me . Told me he would press charges if I contacted him . I priced the job at $3,000 I was only 2 hours from being done the next day of when I called the next day he complained and told me not to come back now he refuses to pay for the work that has been completed
answered on Jul 24, 2023
Send the homeowner a demand letter for the amount owed for work done so far and the value of the tools that he has in his possession. State that he may return the tools to you within 5 days and if he returns them in the same condition they were in with no damage, he will still owe you $x for the... View More
Entity A and B teaming up to against my best interest - deferred salary and compensation, in a total over $170k.
answered on Jun 20, 2023
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