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How Personal Goodwill Can Avoid Double Taxation
Question: I have been advised that personal goodwill can help me avoid the double tax that will result when I sell my C corporation assets. Is this true?
Baseball Owners Still ‘Reserving’ Right to Underpay Minor Leaguers
During spring training last year, this column detailed a class-action suit filed by three ex-minor leaguers alleging Major League Baseball paid them less than fast-food workers. Unrepresented by a labor union, minor leaguers toil 50 to 70 hours per week through a five-month season for subminimum wage with no overtime and no compensation during spring training, instructional leagues or winter leagues.
The New Estate Plan – It’s All About That Basis
Question: My husband and I established marital and non-marital trusts many years ago to reduce our estate tax obligation. Because the size of our joint estate is less than the current estate tax exemption, do we need to redo our documents?
A Rep’s Telltale Signs of Looming Termination: What, If Anything, Can Be Done?
Most terminations are telegraphed. Reps must pay attention to the warning signs. Consider Roger Rep’s plight:
Quirky Laches Doctrine Can Rescue Even the Unsympathetic
Some legal defenses are rarely invoked. Others are rarely applied correctly. And a select few are so special that they get italicized. The equitable doctrine of laches is all three.
Avoiding Taxation on Leasehold Construction Allowances
Question: My company will shortly be signing a commercial lease at a local shopping mall to operate a retail business. Is the construction allowance the landlord pays to my company for leasehold improvements taxable?
Using Deferred Compensation Plans to Enforce Restrictive Covenants
Question: I want to reward a key employee with additional compensation. I am concerned that the covenant not to compete which I am asking the employee to sign will not be enforceable. Any suggestions on how to deal with this?
Form Objections to Deposition Questions are Dated and Boilerplate
Object to the form of the question. While it’s a technically permissible and proper deposition objection, it generally proves of limited utility beyond venting.
Mortgage Loans From Profit Sharing Plans
Question: Since I am the sole owner of my company and the sole participant in my company profit sharing plan, can I use profit sharing funds to hold a mortgage on the residence which I intend to purchase?
The Procuring Cause Doctrine Enables Even Employees to Recover Post-Termination Commissions
Employed for several years as a field sales representative for Paul M. Wolff Co., a subcontractor specializing in concrete finishing services known as PMW, Miller was responsible for facilitating and overseeing projects within his territory. When a project is awarded to PMW, the rep completes the final step toward earning a commission by managing the company’s performance through completion of the project.