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Do I need a business to start an LLC?
You don’t need an LLC to start a business, but, for many businesses the benefits of an LLC far outweigh the cost and hassle of setting one up. You can als...
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What does it mean to partner someone?
Partner is simply a way of describing someone you’re romantically or sexually involved with. It doesn’t necessarily indicate any particular level of serio...
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What happens if you evade taxes?
Tax evasion in California is punishable by up to one year in county jail or state prison, as well as fines of up to $20,000. The state can also require yo...
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Where does the 30, 000 cash go in a business?
The $30,000 cash was deposited in the new business account. Transaction analysis: The new corporation received $30,000 cash in exchange for ownership in c...
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How to start your own business in PA?
Starting a Business. Starting a Business. The Pennsylvania Business One-Stop Shop is a new resource for aspiring entrepreneurs and existing business owner...
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What happens if my car is totaled and I still owe money on it?
If your car is totaled and you still owe money on the loan, the insurance company will pay your lender for the car’s value, and you will be responsible fo...
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Is LLC income subject to self-employment?
Generally, if you’re a member of a partnership — including an LLC taxed as a partnership — that conducts a trade or business, you’re considered self-emplo...
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What happens when an LLC dissolves?
First, when you close an LLC, a process known as dissolution, you must pay known/present LLC creditors before distributing assets and profits to the owner...
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Can you put a friend under your health insurance?
In many cases, your insurance provider will permit you to carry virtually any family member that you can claim as a dependent. Such family members might i...
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Why are property taxes included in mortgage payments?
Including your property tax payments in your mortgage payments allows your lender to protect himself. If a homeowner is forced into foreclosure, his lende...
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