Is a Tax Trap Lurking in Your Paycheck?

Does your paycheck look a little higher than normal? If so, it could be a tax trap. The Problem A payroll tax deferral beginning September 1 was recently signed via a presidential executive order. This deferral of the employee’s portion of Social Security will raise your paycheck temporarily until January, 2021. Beginning in 2021, the […]

October 2020

This month: October 15 – Extension deadline for individual and C corporation tax returns

Don’t forget to fund your trust

Most people who have an estate plan have created a trust. But one thing many people forget is rather important: funding the trust. During the lifetime of the grantor who created the trust, the trustee can use the trust assets for the grantor’s benefit, if the grantor becomes incapacitated. If you want the trustee to […]

Borrowing from your retirement due to COVID-19

When you save for retirement, the goal is to keep the money growing until you are of retirement age. But sometimes unexpected financial crises arise, as is the case with many people due to the pandemic. The CARES Act, which was signed into law in March, offers some relief with expanded withdrawals from IRAs and […]

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 […]