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Can Commercial property owner who also sold you the business kick you out?
Scenario is this, commercial property owner who also owns the business sold you the business for $ 150,000 with 5 year lease. After 5 years, after lease is up, can property owner refuse to re-new the lease and kick you out?
If so, can you get part of $ 150,000 paid to purchase the business? If the commercial property refuses to renew the lease, that seems like the person who purchased the business has been taken to cleaner... I mean, commercial property / business owner is going to get paid $ 150,000 plus all the rent from 5 years, and gets to take the business back. Is there some kind of protection for the person purchasing the business?
5 AnswersSmall Business8 years agoIs home builder responsible for repairing cracked concrete driveway?
Home is less than 1 year old, and builder is claiming that since the crack is not up to the guideline, it is in their word "within acceptable guideline". Sure, they can say that, but it is making the driveway look ugly!! Is there anyway I can get the builder to repair it?
1 AnswerMaintenance & Repairs8 years agoHow do I cancel a check that was cashed already?
I have never run into issue like this before...
I had called in a plumber about 6 month ago. He did good job... showed up on time, etc. Anyways, this was for rental property, so I was not on hand to provide the payment in person. So, I informed the plumber that I would send the check via USPS priority, which he declined, and requested the payment to be sent electronically. So I did, using the online bill payment service provided by bank.
Well, few weeks later, plumber called me saying he did not receive the payment. So I checked by bank statement, and contrary to his statement, correct amount was deducted from my account, confirming that someone had cashed the payment. I called plumber's bank to ensure that I had wired the money to correct account #, and the bank confirmed that the account number I had wired to was owned by the plumber.
So now, the plumber is threatening to take me to the court, if he cannot get his money. He suggests I call my bank to cancel the electronic check and pay him in person. Considering payment was made 6 month ago, can I still have the electronic check canceled?
4 AnswersCredit8 years agoharvesting stock loss?
I have stock options (Call option on coal stocks... yeah, I know) worth around $ 3,000 that will expire worthless on Jan 2013. Will I be able to report the loss on 2012, or will this have to wait until 2013?
I have several stocks that have done well, and would like to offset the gains in those stocks by harvesting the loss from options expiring worthless. I would prefer to sell the stocks now, hence the question... I suppose I could wait around until 2013 then sell the stocks. But would prefer to sell them now
4 AnswersInvesting9 years agoCan I hire family member in S Corp? What would be tax implication?
I want to hire my grown daughter to work with me full-time in my small business setup as S-Corp. What would be the tax implication, and would other business entity be more beneficial tax wise?
4 AnswersUnited States9 years agoAccidentally microwaved battery?
Last night was having a bad day with kids, and in attempting to sanitize the tooth brush, accidentally microwaved it not knowing that there was battery inside the toothbrush. After 5 sec, I heard a loud pop, and immediately shut down the microwave, but the damage had already been done. Battery blew up and spewed dark stuff all over the microwave and tip of the toothbrush had melted and emitted foul smelling smoke.
I am now concerned if some toxic materials were released into the microwave... would it be safe to clean the microwave, and to use it again?
4 AnswersMaintenance & Repairs9 years agoAre people aware of how terrible 15 trillion dollar debt is?
Please raise your hand if you understand the magnitude of the 15 trillion dollar debt:
Past 20 years, (actually during the mid 90's) We were barely able to achieve budget surplus of merely $ 200 billion dollars and several years in which budget surplus reached $ 100 billion.
Assuming we are able to achieve $ 200 billion budget surplus for next 20 years, we would only be able to reduce the debt by 4 trillion dollars. Think about that... Each trillion we add to the debt will take 5 years of $200 billion surplus to erase.
1.5 trillion dollars in debt reduction over next 10 years politicians are talking about? They don't mean reducing the deficit from 15 trillion to 13.5 trillion, they MEAN REDUCING THE RATE AT WHICH DEFICIT IS PROJECTED TO GROW BY 1.5 TRILLION DOLLARS!! i.e from $15 trillion to 18 trillion instead of to 19.5 trillion.
Please respond if you agree that we need to cut spending drastically and raise the tax---> Not just on rich, but on EVERYONE!!! We have to be on this together.
9 AnswersGovernment10 years agoWhat to do with our idiot sister in law?
What the hell do I do with my idiot sister in law who is master of getting family members to pay for her mistakes... ughhhhhhhh!!!
She has been unemployed for past 2 years, collecting unemployment benefits. Yet loves to live extravagant lifestyle because she says "She deserves it". She has declined several job offers because they"Pay too little" Those jobs would have paid her $ 50k. Now tell me how many people would not jump at chance to earn 50k. In the meantime, she cheerfully wastes our hard earned tax money on luxury clothes and bags. Then upon learning that her benefit has been extended another 8 month, she celebrated by trading in her BMW for brand new 30k Lexus.
Now, just few months ago, she had to settle her 20k credit debt for 7k, which we paid for (Yeah, we are idiots. But we only stepped in because she kept on badgering and guilt tripping her mom. Only reason we helped was because my wife's mom does not have any saving, and for her to help this idiot would have damaged her finances). She tried to get plastic surgery few month ago with her mom's credit card!! Had we not discovered her little plot, her mom would have been stuck with 45k in plastic surgery bill.
A master of manipulation, free spender, and a burden on tax payers. What do we do with this idiotic, crazy sister in law??? We tried to get my wife's mom to disown this idiot numerous times without success and once this idiot sucks up money from her mom, we end up with the bill. Really, really tired of this idiot... What shall we do?
4 AnswersOther - Family & Relationships10 years agoVerizon early termination for HTC Incredible?
Hi, I checked the verizon wireless website, and HTC incredible is no longer on the advanced device list. Yet, when I asked for the early termination fee, I was quoted $ 290 ($350 - 60).
I though once a device is no longer on advanced device list, early termination fee drops down to $ 175. So... what gives? Can Verizon do this?
1 AnswerCell Phones & Plans10 years agoTax deduction for AC replacement in rental property?
AC is broken in my rental home, and it needs to be replaced... so my question, can I receive tax deduction for the AC replacement? I know repair is tax deductable, but not sure about replacement, because I wonder if this would count as home improvement, as opposed to repair...
5 AnswersRenting & Real Estate1 decade agoCan I screw in CFL to Flood lamp socket? They are both same wattage?
There is currently 60w flood lamp screwed onto the flood lamp socket. Main reason for trying to replace it is, flood lamp goes out so quickly!
4 AnswersMaintenance & Repairs1 decade agoReverse mortgage fixed rate?
My parents were told by the banker that if they wish to take out reverse mortgage, and at fixed rated, they would have to take out the amount set by HUD, not the amount my parents want to take out. Now, this does not make sense at all! If my parents only want to take out $80,000, why can't they do that? But instead take $ 160,000 out? Why is this? Or is the banker throwing a BS at my parents and trying to sell the adjustable rate reverse mortage? Please advise.
4 AnswersRenting & Real Estate1 decade agoWhy can't moderate Democrats ans Moderate Republicans get together?
And push out the extreme radicals? Well not completely, but to a degree that they do not control both parties. Right now, both extremem leftwing liberals and extremem right wing conservatives control the both respective parties. We need to vote for politicians who will agree to work together, and agree on the most important problem of our days: Ending wars in Afghanistan and Iraq and reducing the mounting budget deficit.
11 AnswersPolitics1 decade agoTax when selling home?
Hi, we are planning to sell our home and are wondering what the tax implication would be. We have occupied the home for less than a year, and we won't be selling for profit (Will be selling for less than we purchased)
Do we need to pay tax when we sell?
3 AnswersUnited States1 decade agoIs it safe to eat raw fish caught from Chesapeake Bay?
My Dad loves to fish, and he also loves to prepare sashimi(Raw fish dish) out of fresh caught salt-water fish. My question is, is it safe to eat fish caught in Chesapeake Bay raw?
7 AnswersFishing1 decade agosun room by homedepot?
If anyone has sunroom constructed by HomeDepot, how was the experience? Was the price competitive, and were the contractors on time?
2 AnswersDecorating & Remodeling1 decade agoHow does one obtain contractor certificate?
How do I obtain contractor license?
1 AnswerOther - US Local Businesses1 decade agoIf I sell the business, then use the proceed to buy home, do I need to pay cap gains tax?
I sold small business after 10 years, which I bought for $100,000 in 1993 and sold it for $ 230,000. I then used the proceeds to buy a home. Do I need to pay tax? If so, how much? By the way, this is not our prinary resident, but an investment property.
Thanks!
5 AnswersUnited States1 decade ago7 weeks old baby wants to eat every hour!!!?
Our baby is 7 weeks old, weights about 11 lb 8 oz... Up until last week, he was eating about 4 oz per setting, every 3 hours or so. However, starting last week, he started eating every hour. What is so odd is that he is now eating only about 1.5 - 2 oz per feeding. We try our best to have him eat more, bur he absolutely refuses to eat more than 2 oz. Also, we tried to calm him and not feed him so often, but he raises holy hell and we are forced to feed him. If he keeps up with this, he will drive us insane... any ideas?
10 AnswersNewborn & Baby1 decade agoWhat is etiquette in Carpooling?
Is it rude for one person to always having to drive to another person's house regardless of who drives on that day? i.e. when person A is driving on that particular day, should person A not pick up the person B instead of requiring person B to drive to person A's house?
4 AnswersCommuting1 decade ago