I am frequently asked about the impact of a husband and wife owning the membership interest in an LLC in a community property state.  It is and interesting issue that is unresolved in many respects.

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• Financial Statements and Fund-ability Disraeli once said that "there are three kinds of lies: lies, damned lies, and statistics." In business, some of the "statistics" that can tell such damning lies are the numbers found on company  balance sheets and income statements. Too often, the reality is not accurately reflected in the numbers. Accounting......
• What are "Start-Up" costs? To the IRS, qualified start-up costs are those expenses that a business incurs while in the process of determining whether or not to start a new business, and which new business to begin.  This is often called the "whether or which test".  See IRS Rev. Rul. 99-23, 1999-1 CB 998.......

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