http://smallbusinessonlinecommunity.bankofamerica.com/community/forum/startingabusiness?view=discussions Most recent forum messages en Mon, 01 Dec 2008 18:39:05 GMT Clearspace 1.1.1 (http://jivesoftware.com/products/clearspace/) 2008-12-01T18:39:05Z en http://smallbusinessonlinecommunity.bankofamerica.com/thread.jspa?messageID=50688&amp;tstart=0#50688 <br /> My question is not ansered yet. How do we register the difference the two events:<br /> <br /> 1. Adding a shareholder ; versus<br /> 2 Adding a corporate officer <br /> <p /> thanks. Mon, 01 Dec 2008 18:39:05 GMT mirror_nyc http://smallbusinessonlinecommunity.bankofamerica.com/thread.jspa?messageID=50688&amp;tstart=0#50688 2008-12-01T18:39:05Z Dec 1, 2008 1:39 PM http://smallbusinessonlinecommunity.bankofamerica.com/thread.jspa?messageID=50446&amp;tstart=0#50446 Hello;<br /> The question you ask would be best answered by quality legal council. It sounds like you may be talking about the c-corp being a management company. Business structure should be done with legal council. I have an economical solution if you are interested. See my profile. Sat, 29 Nov 2008 04:48:55 GMT Effort4U http://smallbusinessonlinecommunity.bankofamerica.com/thread.jspa?messageID=50446&amp;tstart=0#50446 2008-11-29T04:48:55Z Nov 28, 2008 11:48 PM http://smallbusinessonlinecommunity.bankofamerica.com/thread.jspa?messageID=50422&amp;tstart=0#50422 <br /> Scenario: <br /> My sister owned a New Jersey LLC (filing taxes as a sole-propietor on Schedule C). I created a new C-Corp in New Jesey (myself as sole owner of 100 shares) We merged the LLC into the C-Corp with C-Corp as the surviving entity. I'm planning to give 40 shares (i.e 40% of the outstanding shares) of the C-Corp to my sister in order to make it a tax-free transaction (reorganisation) Is this recommended ? The FINAL plan is for my sister to eventually transfer the entire shares / business to me ith no money-transaction involved.<br /> <p /> The C-Corp was started with no inital capital. We intend to continue the existing business of the LLC through the C-Corp (we have no physical assets - just a business checking account)<br /> <p /> <br /> *****************************************************************************************************************************************************<br /> Question 1: How do we achieve this transfer of 40 shares - Do i simply file an ammendment in the articles of incorporation and add my sister as the owner of 40 shares ? <br /> <p /> Question 2: Do we simply request the bank to rename the C-Corp as the NEW owner of the checking account (??) or close that account and open a new one ? How do we recognize the "DEPOSIT" transaction for the purpose of the C-Corp Taxation ?<br /> <p /> Question 3: When we file tax for the C-Corp, how do we treat the cash and transactions of the LLC that have been recorded year-to-date ?<br /> *****************************************************************************************************************************************************<br /> <p /> We are a very small company so would appreciate a simple way out - I plan on using turbo tax for my taxation (sounds plausible ?)<br /> <p /> any guidance would be appreciated,<br /> <p /> Mirror Fri, 28 Nov 2008 23:58:48 GMT mirror_nyc http://smallbusinessonlinecommunity.bankofamerica.com/thread.jspa?messageID=50422&amp;tstart=0#50422 2008-11-28T23:58:48Z Nov 28, 2008 10:21 PM 2