Resources
Stay in the know of company and industry updates, accomplishments and more!
Putting the “Success” into Succession Planning/The Corporate Transparency Act: What Business Owners Need to Know (Fall 2023)
Contributors: Len Gambino, Marc Pawlus
The Corporate Transparency Act: What Business Owners Need to Know
The Corporate Transparency Act (“CTA”) was enacted in 2021 to improve transparency in order to prevent bad actors from engaging in money laundering, tax fraud, and other illicit activities from exploiting US companies. Beginning January 1, 2024, the CTA requires “reporting companies” to report information about the individuals who own or control the company to the Financial Crimes Enforcement Network (“FinCEN”).
Putting the “Success” into Succession Planning
Finding, grooming, and ultimately selling your business to one or more key employees is a process that typically takes several years. Once you have found the right successors, proper succession planning often involves two additional steps.
Maximizing the Qualified Business Income Tax Deduction For Sole Owner/Sole Employee Businesses
The 2017 Tax Act introduced a new deduction for pass-through entities. Owners of S corporations, sole proprietorships, partnerships and limited liability companies treated as sole proprietorships are entitled to an income tax deduction of up to 20 percent of their qualified business income (“QBI”) on their personal income tax returns.
The ‘Windfall Gals’ Reject Manufacturer’s Contention That Paying the Rep Was a Windfall
Just a few months ago, on the fifth floor of the courthouse in a sleepy Philadelphia suburb, an international manufacturing conglomerate squared off for 3½ days against a local sales rep. The battle was over commissions due under the terms of their contract, plus statutory damages. In a first for this counsel (and the seasoned trial judge), a single-sex jury was selected: eight women who, for reasons explained below, would later form a chat group known as the “Windfall Gals.”
Retirement Plan Withdrawal Strategies Based on New Legislation
Question: I am the beneficiary of a traditional Individual Retirement Account that I inherited from my recently deceased 80-year-old father. What is the best strategy for withdrawing the funds?
Another Strike Against Non-Competes / Balancing the BOTS: How to Harness the Power of AI without Falling Down the Rabbit Hole (Summer 2023)
Contributors: Norm Finkel, Robert Goldberg, Kelly Cronin
Balancing the BOTS: How to Harness the Power of AI without Falling Down the Rabbit Hole
What is ChatGPT and How Will It Affect My Business?
Business owners should be aware of the benefits and legal pitfalls that lurk under the world of Artificial Intelligence (“AI”).
Another Strike Against Non-Competes
We recently shared with you the details of a trade regulation rule proposed by the Federal Trade Commission banning non-compete agreements.
Bargain Sales to Charity
Question: I intend to sell to a charity a vacant lot that I have owned and held as an investment for many years for less than the current value. Can I take a charitable contribution deduction for the difference?