Pre-filing planning for sole proprietorship [1 Attachment]
Posted: Fri Feb 12, 2010 7:12 pm
Matt:
If you are smart, you will get anorther experienced atty to interview a business client with you. So many things come up, you cannot anticipate the paramutations. Once you have interviewed 20 or 30, you will start to understand.
Dennis McGoldrick
350 S. Crenshaw Bl., #A207B
Torrance, CA 90503
On Feb 12, 2010, at 1:46 PM, "Margaret Norman" wrote:
[Attachment(s) from Margaret Norman included below]
Matthew, I believe your question says that its a lady who is running a small business out of her home. I just dealt with a woman who is running a small candlemaking business out of her home; it barely turns a profit. Thats one category of small business thats easier to handle.
I don't expect to see the same issues and problems as I would if it was a contractor who operated out of the home. So the amount of pre-petition planning depends on the annual income and the nature of the business.. I look at the tax returns, and ask about whether there is inventory,equipment and look at the gross profit and bank account. If they are currently operating, I need business income and expenses detailed. You certainly charge a great deal more and need help from an experienced bk person if the business falls into this second category because there are some tricky issues you might not expect and business clients often want to lock you into a lower fee and minimize the difficulties.
Margaret Norman,
111 N. Sepulveda Blvd. #355
Manhattan BEach, Ca. 90266
310-376-7873
The post was migrated from Yahoo.