(Music and the Law) Rock on Judge Daily
I never met Judge Douglas W. Daily. I probably would never have been aware of him had I not been flipping through the June 9, 2009 edition of The Daily Journal, a journal that has long served the Los Angeles…
(Corporate Law) Operating Agreements: Offering Members of LLCs enormous flexibility in arranging their affairs.
I am often asked by clients what are the differences between corporations and limited liability companies in California. As you might imagine, the differences are too numerous to cover in one short newsletter article. That said, among the characteristics that…
(Contracts) Non Compete Agreements: With limited exceptions, non compete agreements are invalid in California
Non-competition provisions and their implications have long been misunderstood by both lawyers and non-lawyers alike for many years. I want to say right off the top, that with few exceptions, non-compete provisions and non-compete agreements are not enforceable in California.…
(Civil Litigation) Attorney Fees Provisions: “It is the size of the fight in the dog that counts.”
There is a saying that goes something like: "it's not the size of the dog in the fight that counts, but the size of the fight in the dog." Keeping this saying in mind, I would like to talk to…
My Life in Tax Law: The Offer in Compromise – If It Were That Easy Everyone Would Do It
I fall asleep late. I am not an insomniac thank goodness, but I do fall asleep late. Late enough to see the television commercials from all those outfits that promise me that if I just call the number on my…
(Corporate Law) Personal Liability for Business Debts
One of the most important concerns for an investor is his or her personal liability for debts incurred by the business enterprise. The investor usually realizes that losses sustained by the business may wipe out the amount invested; the concern…
(Tax Law) Treatment of Certain Foreign Currency Transactions
The IRS rules and regulations concerning the taxation of foreign currency transactions are very complex. However, where the taxpayer is an individual, as well as for many partnerships, corporations and limited liability companies, the basic rules are as follows: 1.…
The “Confirming Letter” – One of the Most Valuable Tools in the Businessperson’s Toolkit
What is a "Confirming Letter?" As you might guess, it is a WRITING that confirms some point or agreement that you have reached with another party based on a verbal communication. In this day and age, it is most likely…
Anatomy of an Accepted Offer in Compromise
A client who I will refer to as "Tax Payer" or just "TP" (for short) was referred to me in early 2013. TP had not paid taxes since 2004. TP owed approximately $10,000 in taxes for 2005-2010. TP did not…
(Independent Contractors) Independent Contractors – A Tune-up
Ok. I have touched on the definition of what constitutes an independent contractor vs. an employee in prior articles. Still, so often there is so much riding on whether a worker is characterized as an independent contractor or an employee,…