Tips for succession planning
The longevity of a small business depends on a well-thought-out succession plan. For a family business, you want to evaluate who else can run the business and whether you have to look beyond family members as the business grows. An experienced attorney can help the key stakeholders create a succession plan or review your existing […]
When to sell your parents’ home: The tax consequences
Let’s say you’ve known for years that you are inheriting your father’s home when he dies. Hopefully, you also know that he has a will that indicates clearly that the house will go to you. Now let’s assume that your father is no longer living in the house and doesn’t need the money from the […]
Patent lawsuits are on the rise
Patent disputes are increasing, according to recent information gathered by Unified Patents, an organization that works to reduce patent abuse. According to the data, nearly 900 district court lawsuits relating to patents were filed in the second quarter of 2019. Patent fights tend to increase when the economy experiences a slowdown. New areas of patents, […]
FTC settles case involving privacy violation on Yelp
A Federal Trade Commission settlement with a California mortgage broker who posted personal information about consumers on Yelp after they posted negative reviews of his services is a cautionary tale to businesses, which should never publicly disclose clients’ personal information. According to a Department of Justice complaint filed on behalf of the FTC, mortgage broker […]
OSHA increases maximum fines for 2020
The Occupational Safety and Health Administration has boosted its maximum fines for workplace safety violations. The new maximum fine for “serious” violations is $13,500 per violation, while the top fine for “willful” or “repeated” violations is $135,000 per violation. Typically, an OSHA investigation is prompted by a worker contacting OSHA anonymously or an employer filing […]
New rule raises the bar for immigrant investors
A new rule raises the minimum amount foreigners need to invest to qualify for a U.S. green card under the EB-5 program. Created in 1992, the program grants green cards to foreign nationals who make the necessary investment in a commercial enterprise in the U.S. In addition to minimum financial benchmarks, the program stipulates that […]
‘Joint employers’ rules clarify FLSA responsibilities
New “joint employer” rules make it easier for franchise owners to understand their responsibilities under the federal Fair Labor Standards Act. The final rule from the Department of Labor limits situations in which franchisors and franchisees are considered “joint employers” of workers under the act. It modifies a policy, enacted under the Obama administration, that […]
5 Key Questions to Answer When Creating Your Will
If you don’t want important decisions to be left up to the state when you’re gone, you need a will. If the idea of creating a will feels like you’re tempting fate, think of it as a road map you’re leaving your family, so they don’t have to stress over making the right decisions on […]
Crisis Avoided: Connecting with Your Customers During an Emergency
Worldwide GPS technology giant Garmin became the latest high-profile business to get targeted by cyber criminals. It was widely reported that Garmin suffered a ransomware attack and ultimately paid a ransom of close to $10 million to the perpetrators. While Garmin immediately issued press releases notifying its customers and the public that it was experiencing […]
IRS Rolls Out Quicker Fix for Missing, Incorrect Stimulus Payments
Are you still waiting for your Economic Impact Payment? Did you get your payment but it was for the wrong amount? The IRS initially said you needed to wait until filing your 2020 tax return to resolve any issues with missing or incorrect Economic Impact Payments. Thanks to the prodding of the Taxpayer Advocate Service, […]
