| Subject | Date Asked |
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| Controller | 9/28/2009 |
Q: I own part of an S Corporation and would like to know if the Controller is considered an "officer" ...
A: The corporation's bylaws should specify the officers of the corporation. Just because someone has a ...
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| inspiring employees | 7/10/2009 |
Q: i am trying to inspire them, have you any available inspirational stories that discuss success? if ...
A: Tim, What I have found is that no two employees are ever alike, and what motivates them can be very ...
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| my "partners" | 7/7/2009 |
Q: I consider myself an entrepreneur no successful yet but I am sure one day I will if I learn how to ...
A: I'm glad to hear that it looks like your project is going to be a success. Unfortunately, with only ...
|
| What type of business? | 7/1/2009 |
Q: A few years ago, I started a personal training business. It was just myself, and I operated as an ...
A: First, congratulations on the growth of your business. Facing issues that come with growth is ...
|
| Business Names | 6/30/2009 |
Q: I have a quick question and I hope that you can assist me. I am in the process of starting a small ...
A: Yes, it is possible for one entity to have multiple business names. That is done by even by large ...
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| S or LLC entity | 6/26/2009 |
Q: Staub, I am planning to start an IT consulting business providing both project management and ...
A: Balaji, The principal advantage of choosing a S corporation over an LLC is that current IRS rules ...
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| Business Type Plus License | 6/23/2009 |
Q: A friend of mine and me have started a landscape design business. I, having the most business-like ...
A: Jim, Thanks for your questions. With respect to the question of LLC versus partnership, that is a ...
|
| Starting an LLC | 6/17/2009 |
Q: However our business will be in UT and we have not chosen a location yet because we want to open in ...
A: It depends. If you are going to use a Utah LLC (which is probably the best choice if your LLC's ...
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| Structuring of LLC membership shares | 6/14/2009 |
Q: I've just established an LLC and am working on the Operating Agreement. There are three members: ...
A: The operating agreement should spell out exactly what the rights of each member are. Rights include ...
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| Which entity is best? | 6/11/2009 |
Q: My partners and I (3 including me)are starting a vending truck business (taco truck) and want to ...
A: That is a very complicated question that seems very simple. Without more information, it is ...
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| ownership issues | 6/9/2009 |
Q: "I am here in California and my friend asked her daughter -in law to file the necessary papers to ...
A: I am not a California lawyer, but assuming California is not much different than any other state, if ...
|
| liability | 6/5/2009 |
Q: i started a small bakery business. i supply cookies and cakes to cafes. if i set up as an LLC, but ...
A: You should get insurance. An LLC can shield you from certain liabilities but it cannot really ...
|
| Is this legal? | 4/24/2009 |
Q: I am 15, and me and my friend are looking to start a business. First, how do you legalize your ...
A: Caine, First, let me say that I am a U.S. attorney and I am not generally familiar with Canadian or ...
|
| Business 101 | 4/21/2009 |
Q: I would like to start my own online business, but I have no idea about business. Therefore, I think ...
A: Julian, I think basic business courses are an excellent idea for everyone starting a business (and ...
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| Will an LLC help me? | 4/20/2009 |
Q: i live in california. i have a couple questions that i hope you can answer. i work full time as a ...
A: Adam, the LLC makes NO DIFFERENCE on your tax deductions. First, unless you choose to have the LLC ...
|
| Repurposing a LLC | 3/31/2009 |
Q: I have a dormant Texas LLC that I started two years ago with a couple of partners. The business, ...
A: Yes, you can, but since the original LLC has members, you must be certain to "drop" them in a manner ...
|
| Business Name Question | 3/27/2009 |
Q: David thank you for taking time to read and help answer my question. I am looking to start a ...
A: It is easy to check for registered trademarks. In the United States, simply go to the website of ...
|
| Non-Profit Bylaws | 3/26/2009 |
Q: Our Non-Profit Bylaws state"The Board Of Directors" Shall consist of the Executive Board and lists 8 ...
A: My answer is based only on your facts and not your applicable non-profit statute of whatever state ...
|
| is this a good idea? | 3/25/2009 |
Q: David, for taking my questions. My husband and I have just retired. We have enough pension income ...
A: I don't know what the market is for turn-key family book makers, but certainly plenty of genealogy ...
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| Business Name Question | 3/24/2009 |
Q: David thank you for taking time to read and help answer my question. I am looking to start a ...
A: You could very well have legal issues with a name used by someone else. While a business name ...
|
| Becoming Incorporated | 3/21/2009 |
Q: I am an independant contractor who works at home and I accept customer service telephone calls. ...
A: The main benefit for most people of incorporating (or forming a limited liability company) is the ...
|
| starting a salon | 2/27/2009 |
Q: my name is David too, my wife wants to open a hair salon. She is licensed here in Ct, she found a ...
A: First, opening a business like a hair salon definitely calls for forming an entity before you take ...
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| llc question | 2/24/2009 |
Q: do i need a federal tax id number if me and my husband are the only owners of an llc? i already have ...
A: If you and your husband are both members of the LLC, then the LLC is a partnership for Federal tax ...
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| Business Entity | 2/23/2009 |
Q: I recently started selling crafts online and am thinking about becoming "official". My shop name is ...
A: There are some differences in entities that make either an LLC, an S corporation or a regular C ...
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| LLC Dissolution or Transfer? | 2/17/2009 |
Q: I’m starting an online business based in CA. If I were to move out of state would I have to dissolve ...
A: You don't have to dissolve your LLC simply because you move to another state. If you are doing ...
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| LLC, with S Corp Election - Texas | 12/11/2008 |
Q: I recently formed an LLC with my friend to conduct IT/Computer related business. Since we have ...
A: You do need to pay a "reasonable salary" but there is a lot more leeway there than you might think. ...
|
| Starting business in USA | 12/4/2008 |
Q: David, Good Morning. I own a proprietorship firm in India. We do software development and we have ...
A: Amol, You can certainly start a company in the United States even though you live in India. I have ...
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| Purchasing Late Tax Properties | 12/3/2008 |
Q: A man told me yesterday that one can go to a courthouse & purchase property which has unpaid ...
A: No, it is not that simple, at least in most states that I know of. Although the process varies ...
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| Quick question about homeless marketing business | 12/2/2008 |
Q: So I was poking around on some financial blogs and I found this post ...
A: To answer your two specific questions: 1. Yes, there are generally laws in most areas that ...
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| Business Brokerage?? | 8/28/2008 |
Q: Dave, First of all thanks for taking a moment of your time to answer my question. I want to begin ...
A: Depending upon how you represent your role in the transaction, you may call yourself broker or an ...
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| Non-Profit Orgs. | 8/27/2008 |
Q: How specifically do I start a non-profit organization? Where do I get the proper forms like to gain ...
A: Lee, Yes, that is all you have to do to form the non-profit. But you need to understand that ...
|
| Non-Profit Orgs. | 8/26/2008 |
Q: How specifically do I start a non-profit organization? Where do I get the proper forms like to gain ...
A: Lee, There are two distinct levels that you need to be concerned with when starting a non-profit ...
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| Starting A Business By A Non-US Resident | 8/24/2008 |
Q: I am a small business owner from India. We own and operate some websites that are targeted towards ...
A: Asheesh, There is no reason that a non-resident alien cannot own a corporation or limited liability ...
|
| troubled past.....clear future | 8/22/2008 |
Q: I'm 45 yrs. old, I spent a great part of my life using drugs and in and out of trouble with the law. ...
A: Garry, First, congratulations on putting your troubles behind you. You are correct that licensed ...
|
| Trademark Question | 8/9/2008 |
Q: After reading through some of your other posts I need some clarifying on something. My husband and I ...
A: No, that phrase has a very specific meaning and does not mean that you can use the name. There is a ...
|
| ein for fictitious co's | 8/5/2008 |
Q: I have a main llc with an ein. I have opened a few additional businesses using fictitious names ...
A: 1. The fictitious names are not separate businesses and should NOT have their own FEIN. The LLC ...
|
| starting small business | 8/1/2008 |
Q: I'm going to open a fast-food store with just a few kind of sandwiches under my name and style, and ...
A: I would never recommend running a business of any size as a sole proprietorship. There are too many ...
|
| landscaping bussiness | 5/9/2008 |
Q: i really wont to open my own landscaping bussiness but was needing to know a couple of thing i had ...
A: There is no reason that your lack of a high school education should prevent you from starting your ...
|
| LLC single member disregard | 5/7/2008 |
Q: I have two rental properties that I would like to transfer into 2 separate LLC's. My wife and I own ...
A: If you live in a community property state, the IRS has ruled in Revenue Procedure 2002-69 that if ...
|
| opening a bakery | 5/5/2008 |
Q: Staub, I would like to open a bakery, but I have no idea what are the steps I need to take to get ...
A: Opening a bakery or restaurant is one of the most common forms of new business start-ups. It is ...
|
| business license | 5/2/2008 |
Q: I'm starting a pet grooming business and I know that I have to file to get a DBA but I am confused ...
A: You did the right thing by going to the county court house. Licenses for businesses such as a pet ...
|
| up to speed | 1/6/2008 |
Q: I will be doing something new this year. I am working for a sports photographer guy as a ...
A: Assuming that you are NOT forming your own entity (such as a single member LLC), then there are only ...
|
| business venture | 1/4/2008 |
Q: I am starting a little venture (not sure if it is a business, persay), and I am searching for any ...
A: Wow. Usually I get too little information to formulate a good answer. Your detailed explanation ...
|
| Starting a non profit | 11/25/2007 |
Q: I want to help the less fortunate in my community by having a place for them to get assistance with ...
A: There are several ways to do what you want to do, but probably the 501(c)(3) will make the most ...
|
| Bonding | 9/26/2007 |
Q: I've been thinking about starting my own cleaning business. I'm wondering what it takes and costs to ...
A: The costs to get bonded, licensed, insured vary significantly from state to state (and sometimes ...
|
| starting up an LLC as a non-resident in US | 9/25/2007 |
Q: Staub, I and my two friends (from Turkey) are about to start an internet business (a web site ...
A: Sorry, I have been offline for a few days and am just getting back to my questions. Here goes: ...
|
| Lending my 1120S business money | 9/24/2007 |
Q: I put out considerable personal cash to start this business. How is that to be handled on the books? ...
A: Sorry it has taken me a few days to get back online, but here goes: Since you refer to Form 1120S, ...
|
| 401k money for business purchase | 9/23/2007 |
Q: I have recently been offered an opportunity to purchase an established beverage business at a ...
A: My suggestion is to first try any bank or banks where either you or your relative have personal ...
|
| 401k money for business purchase | 9/22/2007 |
Q: I have recently been offered an opportunity to purchase an established beverage business at a ...
A: First, I STRONGLY recommend that you leave your 401(k) money intact. Even ignoring the very ...
|
| wed business | 9/9/2007 |
Q: Everyone says iam really good at writing letters on clothing in cool and unique ways. so i stated a ...
A: I don't know how many T shirts you are talking about ordering, but I don't see any reason that a ...
|
| International business | 9/5/2007 |
Q: I have a question. Although it is related to Canadian business I think the idea is the same. I am ...
A: 1. I almost always recommend that any business be conducted through an entity that limits your ...
|
| cpa/law firm | 9/1/2007 |
Q: I'm starting to notice firms operating as more than a CPA firm. I'm noticing successful firms ...
A: In some other countries, accounting firms do, in fact, practice law through wholly-owned law firms. ...
|
| Business Structure and Investment Money | 7/22/2007 |
Q: We are 2 partners in an S-Corp. I provided all of the start-up capital and my partner Tim is the ...
A: I am a little confused by your questions since you say that "The corporation is already set in ...
|
| What to get first? | 7/9/2007 |
Q: My brother and I have been dreaming about starting our own business. A gaming store. We know from ...
A: My first tip is to consider forming an entity other than a partnership. A general partnership makes ...
|
| moving company tax laws | 7/6/2007 |
Q: I am looking to start a small business, a moving company. How do I report profit? What are the tax ...
A: There are no special tax rules for a moving company. If the company is a regular corporation, it ...
|
| paying ourselves | 5/18/2007 |
Q: My son and I are residential RE appraisers. Right now he owns the company as a sole proprietor. As a ...
A: If you organize an LLC or form a partnership, it will need its own taxpayer identification number ...
|
| Is it possible for us to start our own business? | 5/17/2007 |
Q: heres my situation...I am a stay at home mother and my husband works full time in construction ...
A: Before I answer your question, let me sound a warning loud and clear. Studies of small businesses ...
|
| LLC to lease and manage a property | 5/16/2007 |
Q: I recently bought a property under my name. I would like to lease out this property. I do have ...
A: Good questions. Here are my thoughts: 1. Most of our clients do choose to put their properties in ...
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| paying ourselves | 5/15/2007 |
Q: My son and I are residential RE appraisers. Right now he owns the company as a sole proprietor. As a ...
A: You can both be on the payroll of the business only if you choose to incorporate the business (even ...
|
| Computer Busniess | 5/11/2007 |
Q: Im thinking of opening my own computer parts/ repair/ sevices business and running it form my home. ...
A: You ask some very good questions. I'll give you some brief answers, but I strongly suggest that ...
|
| License for business | 4/23/2007 |
Q: David - Thanks in advance for your help. In our research for our dog business we've been unable to ...
A: It appears that licenses for your type of business are handled at the county level in Virginia. ...
|
| Corporate Officers | 4/22/2007 |
Q: Mr. Staub, Me and a partner are starting a corporation for selling cars. When printing business ...
A: Any person can hold multiple titles. As you imply in your question, you will have a president and ...
|
| Starting Business Abroad | 3/6/2007 |
Q: I am a U.S. citizen currently living in Spain. I need to create a business to be able to set up and ...
A: You certainly don't need to live in the United States to own a business formed in the U.S. There ...
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| Business partnership | 3/5/2007 |
Q: In my planned company there are 2 active partners financing equally and working....nd the other 3 ...
A: If you don't have an agreement among the partners, most state partnership (and often LLC) statutes ...
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| question about my business | 3/4/2007 |
Q: The only thing I do have is insurance but I also need to make sure does the insurance cover me and ...
A: If you don't know what to do about payroll taxes, get an accountant fast. There is nothing that can ...
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| starting a business | 2/4/2007 |
Q: I like to start a bus. of remodeling homes and landscaping. Just as a part time gig. I plan on ...
A: 1. You don't have to form an entity to protect you but you certainly should. If you and your ...
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| questions about first stages of starting a business | 1/25/2007 |
Q: first off i would like to ask if your knowledge is for the U.S. or Canada? me and a buddy are ...
A: Generally speaking, an LLC offers more flexibility than a S corporation and has less ongoing ...
|
| Just a few problems... | 1/24/2007 |
Q: I have a game development team. Now i need the people in this team to sign a 'Contributor ...
A: I believe I understand your question. The answer is that that the document COULD be worded in a way ...
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| Daycare Center | 1/7/2007 |
Q: What would be the most wise choice and cost effective way to set up a Daycare center. Revenues will ...
A: First, you definitely should form an entity to help shield you from liability. While it won't ...
|
| HOME BASED EMPLOMENT AGENCY | 12/17/2006 |
Q: I AM INTERESTED IN STARTING A HOME BASED EMPLOYMENT AGENCY. I HAVE CHECKED MANY WEBSITES DEALING ...
A: Any individual, partnership, association, corporation, contractor, or subcontractor in the District ...
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| Incoporating a business | 12/12/2006 |
Q: Is it true that New Hampshire offers the most benefits when it comes to incorporating a business? I ...
A: I am not sure what you mean by offering "the most benefits when it comes to incorporating a ...
|
| North Carolina Corporation | 12/1/2006 |
Q: What must be filed to form a corporation in North Carolina?
A: You must file the original and one copy of your company’s Articles of Incorporation with the North ...
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| Copyright and Trademark | 11/30/2006 |
Q: if i have a name for a business and that same name will be on the product, is that a copyright ...
A: A name of a business or a name of a product generally is not entitled to copyright protection. A ...
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| Starting A Day Care | 11/21/2006 |
Q: I what to start a daycare in Charlotte, NC. I know I have the clientele but I am not sure where and ...
A: Your first step is to become thoroughly familiar with the North Carolina laws and regulations ...
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| Small Business liability protection | 11/8/2006 |
Q: What kind of advice/assistance can you give me regarding protecting my business from liability for ...
A: Wanda: Your primary protection should be adequate insurance covering the various risks of your ...
|
| Thank you in advance | 10/25/2006 |
Q: "Dear Mr. Staub, I desperately need ideas to present to reluctant health food store general ...
A: Your last question is the easiest to answer. You can protect your idea from being used by the store ...
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| sales tax | 10/20/2006 |
Q: I started a heating and cooling business last year in New York State. I have my DBA and my NYS tax ...
A: When you refer to "parts and equipment I buy for my business" are you referring to part and ...
|
| Operating agreement / Bi-laws | 10/18/2006 |
Q: We plan to form an LLC in North Carolina and wanted to know if there is a difference between an ...
A: Normally a corporation has bylaws and an LLC has an operating agreement. The name is not as ...
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| Follow up question | 10/16/2006 |
Q: I really wasn't questioning the entity. My current business is an LLC so I am familar with that. ...
A: I can't answer your question but I can make a suggestion. I would find a couple of speakers who ...
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| Start bottle water business | 10/16/2006 |
Q: California. I would really like to start a water bottle business. I came out with the name and ...
A: There are many sources for private labelling water. Even the source you already have may be ...
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| "Pulling a new business venture together" | 10/16/2006 |
Q: In January 2007 I am retiring fully from a business I started 25 years ago and brought from nothing ...
A: I am not sure what you mean by "getting this all set up." If the new venture is going to be owned ...
|
| new business | 10/10/2006 |
Q: We recently purchased a small welding business. It was a private sell. A vendor of the pervious ...
A: Bulk sales statutes were enacted in many states around a century ago to fix a perceived problem: a ...
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| Re-using existing contracts | 10/10/2006 |
Q: Staub, First, let me say that the service you and your colleagues provide is invaluable and ...
A: Barry, Your question is a very good one. Rather than go into the detail myself, let me point you ...
|
| DBA liability | 10/9/2006 |
Q: I am looking to setup a dba under my existing company. If I choose to terminate the dba at some ...
A: When you say you want to "set up a DBA under my existing company", if you literally mean when you ...
|
| starting a business | 10/5/2006 |
Q: I am on the process of starting an online company. I was wondering if you could tell me how to ...
A: Ronin, For anyone interested in starting a business, there are thousands of helpful guides ...
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| Two friends started a business | 10/3/2006 |
Q: Me and my friend just started a cleaning service.She talked to her mom that does taxes and asked her ...
A: It may be "easier" in some respects to have only one name on the paperwork, but it is the wrong ...
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| LLC question | 9/28/2006 |
Q: Greetings: I have recently formed an LLC with two other "members". We have a good Operating ...
A: No state, to my knowledge, requires that ownership in an LLC be represented by certificates. ...
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| Starting a lawn mowing business | 9/28/2006 |
Q: Mr. Staubs, I want to start a lawn mowing business in New York state. I do some lawns now "on the ...
A: There are many forms of doing business and no one form is right for every situation. Technically, ...
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| lease question | 9/27/2006 |
Q: Mr. Staub, My husband and I are about to buy an already established tanning business,the space ...
A: In most states, the best protection against what you describe is to record the lease. Specific ...
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| LLC income | 9/25/2006 |
Q: I have a friend who started an LLC selling insurance to car dealerships. He also contracts with a ...
A: Kim: In your first question, you say your friend "wants to umbrella this sales activity under the ...
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| Crafts, Selling | 9/24/2006 |
Q: I make jewelry and sell it to a boutique shop in the town where I live. I've been thinking about ...
A: Heather, You have asked a lot of questions! First, you need to check with your city about ...
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| LLC or S Corp for taxes | 9/21/2006 |
Q: I just purchased a small lawncare business. Currently it only makes about $1800 a month at about 7 ...
A: You don't mention what state you are in, and LLC statutes vary from state to state. In my state of ...
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