Many companies pay their employees annual bonuses between January 1 and March 15. If it’s done right, the company can take a tax deduction for the amount of the bonuses in the previous year (if it’s a calendar-year tax filer), but the employee doesn’t recognize the income until the year of receipt. But here’s a problem: Many companies also require that employees remain with the company to get a bonus. So if an annual bonus would
Defaults by commercial tenants are on the rise, so more landlords are asking for a guaranty as a condition of a lease. This can be a real burden for a tenant, and can sometimes endanger a deal. However, a guaranty doesn’t have to be an “all-or-nothing” proposition. Often, a tenant can negotiate a partial guaranty that is more easily doable and still satisfies the landlord. Some common tenant counter-offers include: A guaranty that expires after a
A series of back-and-forth e-mails in which two people agree on the terms of a deal could amount to a binding legal contract, even though no formal, “official” contract was ever drawn up or signed. That’s the word from a federal appeals court in Atlanta. Author Rafael Vergara sued the Coca-Cola company, claiming that he had a copyright in the Spanish lyrics that were used in Coke’s advertising during the World Cup soccer tournament. At some
You might think that it’s okay to fire or discipline employees who complain about their jobs on Facebook or other social media sites – especially if they start calling their supervisors names, or bad-mouthing the company in a public way. But you need to be careful. In many cases, disciplining an employee for a Facebook rant could violate federal labor law, and result in a civil complaint being filed against you by the National Labor Relations
A cooperative’s board of trustees could refuse to approve a lease renewal because the tenants smoked a lot, a New York judge has ruled. The co-op board had the right to approve or disapprove leases in the building, although it couldn’t do so “unreasonably.” In this case, the tenants lived in the building for a year and wanted to renew. During the year, the board sent two letters to the tenants complaining about the “tremendous amount
A big storm comes up and knocks down a tree in Bob’s yard. It falls over the property line and damages his neighbor Janet’s car. Is he legally liable for the damage? As with much in the law, it depends. Generally, though, Bob would be responsible if he knew the tree was in danger of causing damage to Janet’s property, or if a reasonable person in his position would have noticed the danger. For instance, Bob
Hiring an architect to design a home, a commercial building, or a new addition can be very exciting. But there can be some traps for the unwary in the fine print of the contract, and you’ll want to have an attorney look it over in order to protect your rights. Here’s just one example: Who owns the architect’s drawings and plans? You might assume that you do, since you’re paying for them. But one of the
Many landlords – both residential and commercial – have been trying to set themselves apart and attract more tenants by allowing pets. It’s true that pets can cause damage to a building, but it’s also true that there’s a growing demand for pet-friendly environments, and allowing pets can make a rental property much more attractive. Some 17 percent of businesses across the U.S. now allow pets at work, according to one recent survey. Most of these
With the real estate market still in the doldrums, a lot of people are thinking that this is a good opportunity to buy a brand new condominium, rather than one in an older community. New construction has a lot of advantages – but it can also be more complicated, and there are some potential trouble spots as well. You should definitely speak with your real estate attorney before you sign anything in order to make sure
July 31 is the deadline for filing 2011 retirement or employee benefit returns (5500 series) for plans on a calendar year.
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