I now wish to dissolve this partnership. we have an outstanding property tax bill since we paid cash. the 80% owner now wants me to pay 50% instead of my vested 20%. she also wants me to pay 50% of the cost associated with the sell of the property, again instead of my fully vested 20%. we have no... Read more »
Well that depends. Did you and other owner(s) have an agreement when you bought the place and it was determined that your percentage was 20% of the ownership interest as to how to divide other expenses or attributes of ownership of the property. Partnerships can be someone complicated and even...Read more »
Father and two siblings put farm into LLC (split 50/25/25). One of the siblings is going to nursing home and selling their membership units (25%). An agreed price has been established for units. Should the LLC buy the seller's units and then sell them to me? OR Should I buy into the LLC first? What... Read more »
You need to hire a professional. There's a few things in your question that are not correct in regards to how an LLC functions. You're going to need more detailed advice than should be given through this forum.
I was living with my mother at the time this happened but i was getting my things to live with my father, and this was recently in late April. I just recently found out from my mother that she was threatened for the dependent tax return money, she did not know she had a right to keep it. My father... Read more »
Thank you for your question. I'm sure it is frustrating to watch your mother go through this. The short answer is No. You do not have standing to sue a third party, your mother is the one who will be potentially injured. Also, suing someone is typically for personal injury cases.
I am from the UK and looking to setup a US business. I've decided that taxation as a C-Corp is best as I am looking to build capital and retain profits in the company so a pass-through entity is not ideal. I understand that as a C-Corp, things are more formal and decisions require minuted... Read more »
For tax there is no difference. For state business compliance issues a Corporation has slightly more things that have to be done to maintain the corporate veil. Annual meetings are required where an LLC can waive them you have to set a par value for shares and report the number of shares issued...Read more »
The vacant lot is delinquent on its property taxes for many years and is being sold by Lake County, Illinois. Because the postal address is the same as my house in which my daughter and grand children reside, the sheriff arrived at 4:30 AM at my house to serve papers and dozens of certified... Read more »
He also gaslights me, takes/hides my belongings, tracks my cell phone history (account is under his father’s. I have no access), has told me several times (during/post cancer) he wishes I would die, and is constantly creating financial hardship by spending large amounts of money on various... Read more »
Based upon what you have said, you would have grounds on the basis of fault. However, there is no need to go that route anymore. New York enacted "No Fault" divorce several years ago. All that is necessary to be alleged is that there is an irretrievable breakdown of the marriage for 6 months or...Read more »
The notices were going to a location where I do not live (went to my ex-partner's parents house), and I just got my hands on the notices that say we owe thousands. This LLC was only active for a few years, as a production-company shooting a series, and unfortunately, the entity wasn't cancelled in... Read more »
You should find a local attorney and setup an appointment ASAP if you're interested in paying the tax that was owed and recovering the property. You have a limited period of time to do this. If you can't pay the tax then there's not really anything to do unless the rules regarding the procedures...Read more »
It certainly can feel that way, the problem is that there is no right to representation before being taxed. That was a revolutionary slogan. If you drive through a random city and get gas you're paying gas tax without representation or sales tax or excise tax, etc... Washington DC has been taxed...Read more »
The last I heard, in America everyone who has any income from any source is required to file an income tax return--regardless of the amount of income. Why? Because if the IRS left it to taxpayers to decide whether they had earned enough to have to file a return, no one would ever file.
Received a letter when I filed these taxes that I had filed to late to receive a return. Filed through Liberty tax service who did not file 2013 taxes till 2017. Don't understand what is going on or what to do, Can you help
You only have a certain period of time to file a return claiming a refund or else you forfeit the refund. It sounds like you filed a return too late to claim the refund and the state tax department is notifying you of that. There's nothing you can do about the refund. You may have recourse against...Read more »
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