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32 votes
Accepted

Why do companies need to keep invoices for their business expenses as well as receipts?

Invoices often provide more information than a receipt about the product or service purchased, including the amount of tax paid. The information on a receipt may not be enough to substantiate a ...
sjy's user avatar
  • 9,188
31 votes
Accepted

Concealing One's Identity from the Public When Purchasing a Home

Is this true? Yes. can someone explain how this might work? You can form an LLC, and then fund it with money that would be used to purchase the home, and buy the home in the name of the LLC. One ...
ohwilleke's user avatar
  • 219k
20 votes

Spin-off company with all parent's debt?

An arrangement like that (if successful) would be a fraudulent transfer in which creditors could gain access to the assets of the company's to which the assets were transferred, if pursued before the ...
ohwilleke's user avatar
  • 219k
14 votes
Accepted

What to do if you are sued for company name that resemble an existing company name in the UK?

History of the case Javascript is a trademark of Oracle since 1996/1999. Anything that can cause confusion of origin or endorsement is thus infringing on the trademark of Oracle. A company explicitly ...
Trish's user avatar
  • 39.9k
13 votes

What to do if you are sued for company name that resemble an existing company name in the UK?

The simplest way to "resolve" this situation is to Change the name of your company to something that doesn't contain or resemble the word "javascript" and Pay £800 costs to Oracle....
James K's user avatar
  • 996
13 votes
Accepted

Can you sue your own business?

Yes Unless your business is a sole proprietorship it operates as a legal entity seperate from its owners. It owns its assets an acrues its own liabilities. It can be sued and it can sue others. It can ...
Neil Meyer's user avatar
  • 4,997
12 votes
Accepted

Can you have a fiduciary duty to your own business?

@Rick aptly answers your first question (and I totally agree with his answer including his conclusion that the cited provisions apply to single member LLCs). So, I'll touch on issues associated with ...
ohwilleke's user avatar
  • 219k
10 votes
Accepted

Can any national European company do business in all other member states?

Yes. A company from one member state may do business in any E.U. state so long as it complies with local law in the course of doing so. For example, a Dutch company doing business in Germany must ...
ohwilleke's user avatar
  • 219k
10 votes

Concealing One's Identity from the Public When Purchasing a Home

This would not work in england-and-wales because companies are required (with some limited exceptions) to publish in a public register all "people with significant control" under Part 21A of ...
JBentley's user avatar
  • 8,310
10 votes

Concealing One's Identity from the Public When Purchasing a Home

I have heard, that in the United States, some individuals are able to conceal their identities from the public when purchasing a home by setting up a LLC and buying the house through the said ...
Harper - Reinstate Monica's user avatar
10 votes

Why do companies need to keep invoices for their business expenses as well as receipts?

Consider this from the point of view of an accountant. When accounting for a firm's financial transactions, accountants record revenue and expenses through accrual accounting, as opposed to recording ...
dragmehomenow's user avatar
8 votes

Can you sue your own business?

Yes The company doesn't even have to be negligent: workers' compensation is typically strict liability. More generally, if the company does something to you which gives you grounds to sue, you can sue....
Dale M's user avatar
  • 211k
6 votes

How can you prevent someone from buying out your company and dissolving it the next day to screw you over (you have equity in the company)

Controlling shareholders of a company have a fiduciary duty to other stockholders (see the section on controlling stockholder/company in the reference). That is, their decisions must be guided by the ...
Charles E. Grant's user avatar
6 votes
Accepted

How can you prevent someone from buying out your company and dissolving it the next day to screw you over (you have equity in the company)

More of a comment than an answer, but I do need the extra space: Your numbers make no sense If the company is worth $1,000,000 and you get paid $100,000 and equity, you should still own 90% of the ...
SJuan76's user avatar
  • 5,879
6 votes
Accepted

What to do if I am personally invoiced for a business expense

As the sole director and shareholder, the cleanest approach is to pay the invoice from the company account as if it were issued to the company's name. This way, you don't need to keep records (such as ...
sjy's user avatar
  • 9,188
5 votes

What to do if you are sued for company name that resemble an existing company name in the UK?

Firstly, this had nothing to do with trademark or copyright infringement as the question and one of the answers suggest. This was an action taken under Section 69(1) of the Companies Act 2006 which ...
JBentley's user avatar
  • 8,310
5 votes

How does a flow-through LLC own assets?

My understanding is that the "flow-through" treatment is specifically a tax law concept. The LLC has its own income, which it can use to pay expenses or acquire assets or for whatever other purpose, ...
Nate Eldredge's user avatar
5 votes
Accepted

Easiest way to modify LLC control?

First - do it all with an operating agreement in writing; always - no exceptions! Second - what you are describing in fairly simple for any competent lawyer to draft. The voting section of the ...
Jack Fleeting's user avatar
5 votes

How can i protect my self from contract termination in Germany?

The German law mandates minimum notice periods for work contracts. But there is no restriction on maximum notice periods, as long as the employee does not have a longer notice period than the employer ...
Philipp's user avatar
  • 7,364
5 votes
Accepted

Have state governments in United States of America prosecuted limited liability companies for not buying worker's compensation insurance?

Short Answer Most states take failure to get worker's compensation insurance quite seriously and impose significant penalties, sometimes criminal, on a regular basis, for failing to do so. Long Answer ...
ohwilleke's user avatar
  • 219k
5 votes
Accepted

How do you pay for LLC startup costs before it is formed without co-mingling funds?

Normally, a payment of LLC startup costs is booked in the accounting records of the LLC as an in-kind contribution to the capital of the LLC at its actual cost. This is not likely to be considered co-...
ohwilleke's user avatar
  • 219k
5 votes
Accepted

What triggers the need for a DBA exactly?

The basic requirement is that any communication using the trade name be possible to trace back to the LLC using the trade name, either with a disclosure in the communication itself, or with a trade ...
ohwilleke's user avatar
  • 219k
5 votes

Does working under the name of a company protect me when it comes to working under my own name?

Generally, LLC will only protect owners from liability for company's deeds if the owners themselves is not responsible for the deed (specifics depend on jurisdiction). Just naming yourself "LLC&...
littleadv's user avatar
  • 633
4 votes

Employee Stock Ownership as long as Employee Stays in the Company, What Kind of Nonsense is This?

Such agreements are extremely common In fact, companies can issue redeemable shares to the market which can be bought back at any time from the current owner. Such shares normally trade at a discount ...
Dale M's user avatar
  • 211k
4 votes

Employee Stock Ownership as long as Employee Stays in the Company, What Kind of Nonsense is This?

This is neither unusual nor illegal, assuming that the buyback price is specified in the agreement. If your friend does not wish to take advantage of the "nice discount" he can decline the deal, and ...
Tim Lymington's user avatar
4 votes
Accepted

Do you loose liability protection if doing work for your LLC on your personal computer?

No more than using your own phone, eyeglasses or underwear while working for the LLC. These are all tools of trade than one wold expect employees of the LLC to bring to their job (especially underwear)...
Dale M's user avatar
  • 211k
4 votes

Is it a myth that a single owner LLC protect the owner's personal assets?

If the company makes a contract, and as a result of that contract it owes more money than it has, then the company goes bankrupt and the owners and directors can walk away from it. This covers the ...
Paul Johnson's user avatar
  • 13.5k
4 votes
Accepted

Is it legal for a publishing company to have a name containing "entertainment" in it?

Yes. There is no requirement that a company name be accurately descriptive. One could call such a company "Horror and Fury Brewing" if one chose to, or "Joe's Eats". Such a name ...
David Siegel's user avatar

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