Well, that's pretty new to me.
I was told that LLC's owner has limited liability, as long as the owner does not intermingle the funds between personal and business. That's why it is called LLC. In a general partnership, the general partner is personally responsible for the partnership's debt...
Taxpayer, say "AAA foundation", is a non profit organization set up in CA and runs it very successful.
Taxpayer set up a new non profit organization, say "BBB Foundation" at the same time. No activities.
The purpose of set up a new non profit organization "BBB" is to take this name so that...
Thank you for your quick reply. The parents' concern is to limited the liability to the children's business. Yes, there is no age requirement to register a business in CA. And the parents prefer to file income tax return for LLC as a C corp so that the net profit won't be a matter for the...
Hello,
Two rising higher school students start online trading business and make some money. The parents are really concerned about liability and do not want to intermingle the children's business with parents' wealth.
Can minors set up their own LLC and run their owner business? The LLC is...