News of Business Law

Dear Mr. Mechanic,

I am a founding officer and member of the board for a 501(c)3 dog rescue.  I am also the chief cook and bottle washer, because we don't have money to pay an employee.  I put a lot of miles on my car transporting to and from fosters and adopters, doing home inspections, etc.  Am I allowed to use the business mileage rate?  All my miles involve tasks that are critical to ...

If you state all partnership assets in terms of current prices at the admission of a new partner the new partner will not share in any of the gains earned by the current partners. My question is how do I determine those current prices?

My husband is an hourly employee for a company, and is preparing to leave for Haiti for 3 days to film a documentary.  What are the laws regarding pay for an hourly associate.  Should he be paid during travel and when he's working?  Please reference if you can where I can find this in any law.

Hi Carol, I want to start a home based bakery business in Volusia county, Florida. Mainly selling at farmers markets. What do I need to do to get started? What licenses if any do I need? Will I be permitted to use my home kitchen? thanks for your information.

s About Taxes)/1099 convert to business Advertisement Expert: Randall Klein, MBA, EA - 6/1/2011 I currently have some part time employment where I get paid as a 1099 from different employers in different industries. Can I set up a business entity and have all earnings for the year be invoiced through the company as opposed to me personally. I am trying to simplify my tax returns where I currently have standard w2 and then several ...

s About Taxes)/business tax filing on closed business Advertisement Expert: Richard Fritzler - 12/15/2008 We closed our business in Oct. of 2008. This business operated at a loss for all 6 years it was open. Do we have to file these taxes since the business is no longer in operation?

I am preparing a presentation on conducting business in Brazil. Are there any blatant, humorous or unusual laws or business issues that should be mentioned or noted? Unusual compared to US laws.

Thanks,

CT

We have noticed and personally experienced a non profit operating as a business in our market and placing their stores next to profit businesses to force them to close. Our situation regards Lifeway christian stores a subsidiary of the Southern Baptist Convention. They operate a full christian bookstore business as a non profit and compete with regular profit businesses such as ours. Because of the tax privileges, discounted postal rates for advertising, etc it makes ...

s About Taxes)/Gain on The Sale of a Business Advertisement Expert: Richard Fritzler - 6/4/2008 We have made a land and asset purchase of 14 million dollars.  The business that operates on the land is a gasoline station.  We are selling the business(blue Sky) for 1.4 million dollars.  The blue Sky is paid upfront but amortized over 5 years.  Do we have to recognize the full 1.4 million for capital gains year one?  Is it ...

Dear Imam Habeeb, I am a young man who is currently facing severe financial problems. I do not have any source of income as of now and I am living by spending my savings. However, I have an excellent business plan for a billiards club as I have been playing billiards for many years. I also have investors who are willing to invest and give me a greater share of the company because of my ...