The rules which apply to whether or not you have to pay your employees for whether related absences depends on whether they are considered exempt or non-exempt employees. Most employees are considered non-exempt under the federal Labor Standards Act (FLSA) and are covered by the FLSA’s minimum wage and overtime pay provisions. Non-exempt employees generally…
No business owner enjoys litigation, and for good reason. The high costs of litigation, in terms of money and time, can take quite a toll on the health of a business and its owner. When you own a business, lawsuits are sometimes inevitable. However, there are some preventive measures and techniques that all business owners,…
Are you thinking of selling your business? Beyond determining an acceptable selling price, there are quite a few legal issues that need to be considered. The first issue that you should consider is whether to sell the assets of the business (both tangible and intangible) or the shares of the corporation (if incorporated) that operates…
I have just become aware of a new scam targeting attorneys, which would also be “effective” against any company issuing checks. Please read the article below so that you do not become the next victim. The scam is very simple and involves the use of the technology that allows for the deposit of checks remotely…
While e-mail has greatly increased the potential for better business communication and information access, it has its downside. Few employers have yet to fully appreciate the extent to which company e-mail increases their potential liability and few have taken steps to reduce the risk. E-mail’s “oral-like” feel is deceptively dangerous, since employers and employees may…
As the new year begins, New York State is imposing a hefty new obligation on virtually all employers. As a result of the Wage Theft Prevention Act enacted last year, all private sector employers in New York must give each of their employees an annual written notice known as a “Notice of Pay Rate and…
The simple answer for most people is typically “YES”, although the reasons may differ. Below is a list (in no particular order) of reasons to do, or review your estate planning. _______________________________ 15 Most Common Reasons to Do (or Review) Your Estate Planning The desire to designate who will manage your affairs if you become…
As we now start the new year, and begin a new decade, it is a good time to do a bit of self examination and determine what (often ignored) personal and business legal issues may need to be addressed, and make a resolution to address those issues in 2010. Personal Legal Matters. On a personal…
Are you a business owner? If so, have you considered what might happen to your business if something happened to you tomorrow? Do you have a workable business succession plan in place in case you die, or as some might think, something even worse happens to you, you suddenly become disabled and no longer able…
An amendment to a New York State Labor Law went into effect on October 26, 2009. Employers are now required to give newly-hired workers written notice of the rate at which they will be paid and their regular payday. (New York’s Labor Law Sec. 195.1) The new law is intended to eliminate misunderstandings and pay…
The State of New York is currently holding billions of dollars of unclaimed funds for individuals, trusts, estates and businesses. Some of this money may belong to you! In fact, I have recovered over $7,500 from NYS belonging to myself and other family members. I have also assisted several clients in finding funds belonging to…
Have you or your family owned an investment property for a long time but are afraid to sell it because of the income tax consequences? If so, the time may be right to cash in, secure your profits and not pay any tax on the gain. Thanks to §1031 of the Internal Revenue Code, a…
