Resources
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N.Y. Pol Can’t Take Assembly Down With Him
He’s not a big name in Chicago, but Vito J. Lopez is notorious in New York. Once considered among the state’s most powerful politicians, the former chairman of the Brooklyn Democrats and longtime state assemblyman resigned from office in disgrace last year after two more of his ex-staffers filed sexual harassment allegations against the 72-year-old pol.
Receiving LLC Profits Interest to Avoid Taxation
Question: My colleague and I will become equal owners of a new limited liability company we are creating. My colleague will be contributing cash and I will be rendering services in return for our ownership interests. Are there any tax consequences?
Staying Compliant: The Affordable Care Act for Small Businesses
A great deal of the discussion surrounding the Affordable Care Act (“ACA”) deals with large companies and the burden to “big business.” It is estimated that 96% of all businesses in the United States have 50 or fewer employees and employ nearly 34 million workers[1]. For these companies and their smaller counterparts (those having 25 or fewer employees), there is a great deal of confusion about the ACA.
Minor Leaguers’ Salary Lawsuit Poses Major Problems for Baseball
Just in time for spring training, baseball litigation seems to be on the upswing. Exhibit A is the suit filed by three ex-farmhands on Feb. 7 in San Francisco federal court alleging Major League Baseball, three of its teams and the commissioner “have preyed upon minor leaguers, who are powerless to combat the collusive power of the MLB cartel.”
Avoiding Passing Assets to Spouse on Death
Question: I wish for my estate to pass to my children upon my death and bypass my spouse. Are there any obstacles I need to be aware of?
Sound Agreement Allows Telecommunications Agent to Avoid Getting Disconnected from Commissions
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Modern Families, Outdated State Laws
Law school finals? The semester barely started. Yet it is never too early to begin constructing the contemporary law school final exam question.
Parent-Child Home Loans
Question: I am contemplating loaning money to my daughter to help her purchase her first residence. Does this make sense?
Minimalist Court Ruling Lets Class-Action Counsel Seek Members on Social Media
Many a claim is not worth pursuing individually, and will only be brought if a potential class action lurks. How, though, does the individual plaintiff round up enough others to form the makings of a class in actions such as under the Fair Labor Standards Act (FLSA), where potential plaintiffs are given notice and must opt in to form a class? 29 U.S.C. Section 216(b).
Succession Planning Basics
Question: I am the sole owner of stock in a corporation in which my child is actively employed. I wish to pass my shares to my child but provide a continuing income stream to my spouse once I cease working for the company. I do not want my spouse involved with the business. Any thoughts on how I might get started?