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Operation of Business
Is PC professional corp? What is the value of the inventory? Is there a lien? What is the value of the license?if a corp no exempts. So any value in any assets, they will be sold.
Dennis McGoldrick
350 S. Crenshaw Bl., #A207B
Torrance, CA 90503
On Jan 15, 2010, at 6:32 PM, "David A. Tilem" wrote:
What type of bankruptcy? C7, C11? Who "owns" the store? Why is account in son's name? Fraudulent transfer? All sorts of issues - like a lawschool problem. Charge double.
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal Specialization.
on
arry Webb
Sent: Thursday, January 14, 2010 3:53 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] Operation of Business
Importance: Highj
PC operates a retail tobacco store as a sole proprietor. He and his son are on the lease and the business line of credit for the inventory. Bank checking account is in sons name. Tobacco sales license is in PCfor 2/1/2010.
Can the son operate the business while the PC is in bankruptcy? I am afraid the tobacco license is an issue.
Larry Webb
email Larry@Webbklaw.com
Law Office of Larry Webb
484 Mobil Ave. Suite 43
Camarillo California 93010
805 987 1400
Fax 805 987 2866
WARNING And Tax disclaimer
This E-mail is covered by the Electronic Communications Privacy Act, 18 U.S.C. 2510-2521 and is legally privileged. This information is confidential information and is intended only for the use of the individual or entity named above. If the reader of this message is not the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. It is for the use of the named addressees and may not be disclosed to anyone else without the express consent of the originator. If you have received it in error you must not use, disclose,copy, or rely on its contents and should destroy it immediately. If you need any further information, please contact the originator of this message.
IRS Circular 230 Disclaimer: To ensure compliance with IRS Circular 230, any U.S. federal tax advice provided in this communication is not intended or written to be used, and it cannot be used by the recipient or any other taxpayer (i) for the purpose of avoiding tax penalties that may be imposed on the recipient or any other taxpayer, or (ii) in promoting, marketing or recommending to another party a partnership or other entity, investment plan, arrangement or other transaction addressed herein.
Is PC professional corp? What is the value of the inventory? Is there a lien? What is the value of the license?if a corp no exempts. So any value in any assets, they will be sold. Dennis McGoldrick350 S. Crenshaw Bl., #A207BTorrance, CA 90503On Jan 15, 2010, at 6:32 PM, "David A. Tilem" <DavidTilem@TilemLaw.com> wrote:
What type of
bankruptcy? C7, C11? Who "owns" the store? Why is account in
son's name? Fraudulent transfer? All sorts of issues - like a
lawschool problem. Charge double.
David A.
Tilem
The post was migrated from Yahoo.
What type of bankruptcy? C7, C11? Who "owns" the store? Why is account in
son's name? Fraudulent transfer? All sorts of issues - like a lawschool
problem. Charge double.
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
Specialization.
Larry Webb
Sent: Thursday, January 14, 2010 3:53 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] Operation of Business
Importance: High
PC operates a retail tobacco store as a sole proprietor. He and his son are
on the lease and the business line of credit for the inventory. Bank
checking account is in sons name. Tobacco sales license is in PCs name.
Timing: PC wants to avoid a debtors exam in civil court set for 2/1/2010.
Can the son operate the business while the PC is in bankruptcy? I am
afraid the tobacco license is an issue.
Larry Webb
email Larry@Webbklaw.com
Law Office of Larry Webb
484 Mobil Ave. Suite 43
Camarillo California 93010
805 987 1400
Fax 805 987 2866
WARNING And Tax disclaimer
This E-mail is covered by the Electronic Communications Privacy Act, 18
U.S.C. 2510-2521 and is legally privileged. This information is
confidential information and is intended only for the use of the individual
or entity named above. If the reader of this message is not the intended
recipient, you are hereby notified that any dissemination, distribution or
copying of this communication is strictly prohibited. It is for the use of
the named addressees and may not be disclosed to anyone else without the
express consent of the originator. If you have received it in error you must
not use, disclose,copy, or rely on its contents and should destroy it
immediately. If you need any further information, please contact the
originator of this message.
IRS Circular 230 Disclaimer: To ensure compliance with IRS Circular 230, any
U.S. federal tax advice provided in this communication is not intended or
written to be used, and it cannot be used by the recipient or any other
taxpayer (i) for the purpose of avoiding tax penalties that may be imposed
on the recipient or any other taxpayer, or (ii) in promoting, marketing or
recommending to another party a partnership or other entity, investment
plan, arrangement or other transaction addressed herein.
Message
What type of
bankruptcy? C7, C11? Who "owns" the store? Why is account in
son's name? Fraudulent transfer? All sorts of issues - like a
lawschool problem. Charge double.
David A.
Tilem
Certified Bankruptcy
Specialist*
The post was migrated from Yahoo.
PC operates a retail tobacco store as a sole proprietor. He and his son are
on the lease and the business line of credit for the inventory. Bank
checking account is in sons name. Tobacco sales license is in PCs name.
Timing: PC wants to avoid a debtors exam in civil court set for 2/1/2010.
Can the son operate the business while the PC is in bankruptcy? I am
afraid the tobacco license is an issue.
Larry Webb
email Larry@Webbklaw.com
Law Office of Larry Webb
484 Mobil Ave. Suite 43
Camarillo California 93010
805 987 1400
Fax 805 987 2866
WARNING And Tax disclaimer
This E-mail is covered by the Electronic Communications Privacy Act, 18
U.S.C. 2510-2521 and is legally privileged. This information is
confidential information and is intended only for the use of the individual
or entity named above. If the reader of this message is not the intended
recipient, you are hereby notified that any dissemination, distribution or
copying of this communication is strictly prohibited. It is for the use of
the named addressees and may not be disclosed to anyone else without the
express consent of the originator. If you have received it in error you must
not use, disclose,copy, or rely on its contents and should destroy it
immediately. If you need any further information, please contact the
originator of this message.
IRS Circular 230 Disclaimer: To ensure compliance with IRS Circular 230, any
U.S. federal tax advice provided in this communication is not intended or
written to be used, and it cannot be used by the recipient or any other
taxpayer (i) for the purpose of avoiding tax penalties that may be imposed
on the recipient or any other taxpayer, or (ii) in promoting, marketing or
recommending to another party a partnership or other entity, investment
plan, arrangement or other transaction addressed herein.
PC operates a retail tobacco store as a sole proprietor. He
and his son are on the lease and the business line of credit for the
inventory. Bank checking account is in son’s name. Tobacco sales license
is in PC’s name. Timing: PC wants to avoid a debtors exam in civil court
set for 2/1/2010.
Can the son operate the business while the PC is in
bankruptcy? I am afraid the tobacco license is an issue.
Larry Webb
email Larry@Webbklaw.com
Law Office of Larry Webb
484 Mobil Ave. Suite 43
Camarillo California 93010
805 987 1400
Fax 805 987 2866
WARNING And Tax disclaimer
This E-mail is covered by the Electronic Communications Privacy Act, 18 U.S.C.
l
information and is intended only for the use of the individual or entity named
above. If the reader of this message is not the intended recipient, you are
hereby notified that any dissemination, distribution or copying of this
communication is strictly prohibited. It is for the use of the named addressees
and may not be disclosed to anyone else without the express consent of the
originator. If you have received it in error you must not use, disclose,copy,
or rely on its contents and should destroy it immediately. If you need any
further information, please contact the originator of this message.
IRS Circular 230 Disclaimer: To ensure compliance with IRS Circular 230, any
U.S. federal tax advice provided in this communication is not intended or
written to be used, and it cannot be used by the recipient or any other
taxpayer (i) for the purpose of avoiding tax penalties that may be imposed on
the recipient or any other taxpayer, or (ii) in promoting, marketing or
recommending to another party a partnership or other entity, investment plan,
arrangement or other transaction addressed herein.
The post was migrated from Yahoo.