Hinoktok

We have an LLC with IL resale certificate but sometimes we purchase from regular stores in the mall or at discount outlets we can resell them online. We are paying sales tax for those purchases but suppose to be we are exempt. In that situation, can we claim a refund from IL Department of Revenue?

A friend of mine who has a small busines in Japan is buying items here in the U.S. but the sellers will not ship directly to Japan. To solve this problem, all items will be shipped to my address here and I will consolidate and ship them to Japan via USPS Express Mail. Items will be declared correctly in the Customs Form --- so no problem doing it.

Here comes the real issue:

My friend asks me to include an INVOICE inside the box for valuation purposes. I am not the seller so I am hesitant to issue an INVOICE since I don't want to be in trouble with IRS. My understanding is --- if you issue an INVOICE that means you are the seller and you received or will receive payment of the items in the INVOICE. He only needs a very simple document but still it has a word "INVOICE" on it.

What should I do?

We will be filing Federal 1065 with Schedule K-1 for partners. How about Illinois 1065?

Case of hit and run at first but eventually found the culprit -- a neighbor's car allegedly driven by a licensed somebody. With police on the scene immediately -- recorded in the report as HIT and RUN. Their insurance estimated the cost of repair to be $375 but my own insurance's estimate is $700 plus 2 days of car rental and some open items. The other party's insurance told me to go to their accredited shop but I am not sure of their workmanship. How should I deal with this? If I go with my insurance to go with the repair at their accredited collision shop, I have to pay first the $500 deductible then may be reimbursed if they can collect the payment from the other company. Is there a good chance that the other insurance won't pay the whole amount and I end up sucking the difference? If possible, I don't want to deal with my neighbor for reimbursement -- i know that it is a headache.

Please help.

Our LLC is structured as profit sharing only at the end of each calendar year and no "guaranteed payments" to member-manager whatsoever. Are members obligated to pay estimated income tax every quarter eventhough we don't receive any income distribution yet? Is it needed for the LLC to create Quarterly Income Statement and the members will pay "estimated tax" based on those figures?

Please help. Thanks.

When we register our 2-member LLC 1 member used the LLC's office address as his address eventhough his residence is out of state. When filing for LLC's tax forms like K1, what address should he use? For sure he will file an out of state (State B) income tax return -- is he allowed to use the LLC's address on that return (State B) and use his residence for his in-state (State A) return? How about his Federal Tax Return?

Thanks in advance.

Looking for advice.

I bought several items ($2,000.00) intended for sale in a business where I am a member using my personal credit card. Some people say I can just ask for a reimbursement for this... or the company just issue a promissory note payable in the future. anyway, not sure what to do in the booking.

Help!... nobody in the business is into accounting and we cannot afford to hire one for now.

I am using Office 2003 Pro on a new top-of-the-line laptop with WinXP Pro 2nd Ed. Suddenly I noticed that if I open a document/sheet by double clicking the file it will pause for a long time before opening but when I open first the application and use File/Open then it will open in a flash. Other applications are just fine. Checked for possible spyware, malware, virus or anything else but cannot find anything. Surfed the net for 3 weeks now and cannot find anything that somehow solve the issue.

I want my income to be taxed as corporate income and not personal. There is a ready-corp which was incorporated on Jan 3, 2006. Today is June 8th, 2006. Can I carry over or move the accounting books of all sales activities I made starting Jan 2006 to this company? I don't have business entity yet. Are there any complications?

I am planning to create an LLC for an online and home-based type of business but my apartment's management does not allow anybody to use their address for commercial purpose. Since this is a startup, I can't afford to lease an office space just to have an address.

Per Illinois form LLC-5.5, it says

" Address of principal place of business where records of the company will be kept: (PO Box alone or c/o is unacceptable. "

Since UPS Stores are using physical street address instead of a normal PO BOX number, can I use it as my LLC address? For sure "records" are not there since it is only a mailbox, am I allowed to use it?

Please share your thoughts on this... Thanks.

LLC A & LLC B are both Delaware-registered entities. LLC A happens to be a member of LLC B partnership. LLC B is doing its business in Illinois thus an Authority to Transact Business in said State will be obtained. How about LLC A? Is it necessary also for LLC A to have a permit just like LLC B eventhough LLC A acts only as a passive investor of LLC B?

Mr. Inot is a shy country boy who is madly in love with Ms. Celina, a city girl, since they met in college. Being a simple guy Mr. Inot cannot stand up for his feelings towards Ms. Celina. Eventhough Celina knows the guy's feelings towards her but she manifested nothing --- as if she heard nothing. As several years had passed, Celina settled down. Due to his frustation, Inot married hurriedly to drown his frustration. Now he thinks he had saved enough courage to confront Celina about his true feelings towards her but he is afraid of her husband. Do you think that if Inot cannot do what he is planning he is not really in-love with Celina?