Owners of smaller businesses can sometimes be careless about keeping records of business expenses for tax purposes. The good news is that there’s no one right way to keep these records. According to the IRS, you can use any method of tracking expenses you like if it works for you and your business. However, whatever method you use, you still have to be able to substantiate the time, place, amount, and business purpose of each expense,
Most stores that lease space in a mall or other commercial area would like a guarantee that the landlord won’t also rent to a competing business. This guarantee is known as “exclusive use,” and you can negotiate for it in a lease. If you’re negotiating a right to exclusive use, here are some things to consider: What’s the use? You’ll want to specifically define your “use,” and what kinds of other businesses are allowed. For instance,
If salespeople connect with their business contacts on LinkedIn or another social media site, can they take that information with them when they leave the company? Maybe not, according to a federal court in California. David Oakes worked for six years as a salesman for a cell phone accessories company. He had signed an agreement saying that he wouldn’t disclose any proprietary information, including the company’s customer base. When the company terminated him, he started a
The federal government has filed two lawsuits against companies that set up “wellness programs” for their employees. According to the government, wellness programs are perfectly fine if they’re voluntary – but these two companies’ programs weren’t really “voluntary” because workers were penalized if they didn’t participate. Many employers have started wellness programs recently as a way to reduce health insurance costs. The programs are now used by about 94% of businesses with more than 200 workers.
If you’ve put a lot of time and money into designing a distinctive website or online store, and a competitor comes along and copies your site’s look, can you sue? Yes, according to a federal court in California. The “look and feel” of a website is protected by the trademark laws. Surprisingly, this is one of the first court rulings ever on this question. Of course, a website is different from a trademark. But a website
More than 10 percent of employees between the ages of 35 and 44 had their wages garnished last year, according to a new study by payroll company ADP. That’s a staggering figure, and it creates a serious problem for employers, who are subject to complex state and federal laws about garnishment and can be sued if they do something wrong. For years, wage garnishment was generally limited to people who fell behind on child support payments
In a survey of small businesses conducted by the National Small Business Association, 59% of respondents said taxes were more of an administrative burden than a financial one. Most businesses put payroll taxes at the top of the list of taxes with the greatest administrative burden. Payroll taxes also outranked other taxes, such as income, property, and sales taxes, as the top financial burden to businesses.
The IRS recently announced inflation-adjusted contribution limits for health savings accounts (HSAs) for 2016. HSAs are a combination of a high-deductible health insurance plan and a savings account in which you set aside pretax dollars that can be withdrawn tax-free to pay unreimbursed medical expenses. The 2016 HSA contribution limit for individuals is $3,350; the limit for family coverage is $6,750. You can make a catch-up contribution of an additional $1,000 when you’re 55 or older.
Buyer beware! Both the Better Business Bureau and the Federal Trade Commission have issued warnings about vacation fraud. By some estimates, this type of scam costs travelers over $10 billion each year. How do you know whether you’re dealing with a legitimate travel agent or a huckster? Here are pointers. Do your research. Get contact information for hotels, rental car companies, and airlines; then confirm reservations and prices directly. Research properties on the Internet before you
On June 25, the U.S. Supreme Court issued its ruling on the controversial King v. Burwell case. The main issue in the case was whether federal subsidies could be offered to people who purchased health insurance through the federal health insurance marketplace rather than through a state-run exchange. Under a literal reading of the law, subsidies are allowed through exchanges “established by the state.” It was argued that the wording of the Affordable Care Act (ACA)
Attorneys licensed to practice in Florida | Massachusetts | New Hampshire
Business Law | Civil Litigation | Elder Law | Estate Planning | Family Law | Probate & Trust | Real Estate | Tax
