When a company goes under, employees can be stuck with the liability for their corporate credit cards.
Becky, Birmingham, Ala.
My company, an LLC, is insolvent and dissolving. No formal bankruptcy will be filed, and unsecured creditors will not be paid. I know there's potential for my credit card company to serve me with a lawsuit if I am unable to commit to a payoff plan. Can my employees also be held liable? In other words, can employees who charged company expenses on the corporate credit card be sued for the amount they charged on the card?
If you own your own company, you can skip a salary in favor of distributions, but the IRS still wants its share of the money you take home.
Do shareholders have to take a salary in an S corp? Can they just take distributions? How about an LLC?Aug 31, 2009 9:08 AM ET
Handling the client that wants the goods but doesn't want to cough up a check.
Susan Lewis, Lancaster, Calif.
Can we legally hold a client's paperwork if they haven't paid their bill? We do their bookkeeping and they haven't paid in months. We haven't done any additional work for about two months, and now they are asking for their paperwork back. If we send it to them, we will never get paid.Aug 11, 2009 6:14 PM ET
Business owners can write off many of their health care costs, but complying with IRS rules requires some planning.
Jonathan Cottor, Scottsdale, Ariz.
I have an LLC, and I'm seeking some advice about my family's medical expenses. One accountant told me they can be run through the LLC as a business expense, and I've been paying the insurance premiums and any eligible co-pays and FSA-qualifying-type out-of-pocket costs through the business as an MOREJul 29, 2009 12:37 PM ET
Kim needs funding to grow her rural commerical satellite business. Do you have a business in a rural community? How do you grow your business?Apr 21, 2008 6:54 PM ET
Carolyn's family needs help with managing cash flow in their businesses. How do you keep track of your business's cash flow? Share your tips here.Apr 21, 2008 5:35 PM ET
Gary has minimal profits and wants to know how to calculate a markup. Have you recently raised your prices? How did it affect your business?Apr 16, 2008 9:36 AM ET
Frederick, owner of On Point PDS, asked FSB what banks are looking for when evaluating loan applications. Have you been successful in establishing bank credit? Tell us how you did it.Apr 15, 2008 11:52 PM ET
Will purchasing a home affect your chances of getting a loan for a business startup? Give our reader, Paolo, advice on what to do.Apr 4, 2008 11:47 AM ET
Corder asked about the new tax breaks provided by the stimulus bill signed in February. Do you plan to take advantage of these tax breaks for your business? Tell us how.Apr 1, 2008 11:58 AM ET
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