August 17, 2023 is National Nonprofit Day J&G Law, LLP (J&G), is excited to announce that August 17, 2023, marks National Nonprofit Day. This serves as a reminder of the remarkable contributions nonprofit organizations make to communities and the world. In celebration of this significant day, Gary M. Schuster, Esq., a partner at J&G concentrating…
When you start a business, you have the opportunity to create a sole proprietorship, LLC, or corporation. Each option has advantages and disadvantages, but many people choose to register as an LLC, or limited liability company, to get similar legal protections offered to corporations while still operating as a small business. What Is an LLC?…
Update on Department of Labor’s Fiduciary Rule The United States Department of Labor (“DOL”) has proposed a new rule that would expand the definition of “investment advice fiduciary” under the Employee Retirement Income Security Act 1974 (ERISA). This legislation, which was scheduled to be phased in April 10, 2017, will automatically elevate all financial professionals…
Exiting Unfavorable Contracts We work with someone that designs, manufactures and distributes certain goods internationally. Under prior management, they entered into an unfavorable contract granting to a particular company exclusive distribution rights in a very lucrative foreign territory. There was no minimum sales requirement. The contract also stated that it could be terminated only upon the…
Planning for Business Succession and Exit Congratulations on successfully building and growing your business. The odds were against you surviving more than 5 years[1], but you beat the odds. Have your thoughts now turned to retirement? Or cashing out? Planning for business succession and exit successfully will require as much planning as growing it. Business…
Planning for Business Succession and Exit Congratulations on successfully building and growing your business. The odds were against you surviving more than 5 years[1], but you beat the odds. Have your thoughts now turned to retirement? Or cashing out? Planning for business succession and exit successfully will require as much planning as growing it. Business…
Nothing Stays the Same A historical safe harbor has been doing business using a corporate or limited liability entity. Officers and employees were protected against claims for their actions as long as they were acting within the scope of their authority in the performance of activities on behalf of the company. Another safe harbor was…
ZOOM IS TOO FAST The glossy advertisements and promotion for using Legal Zoom evidence that going too fast isn’t the best choice. Going the cheapest is also dangerous. Establishing an entity for a new business is much more than filing forms. There are many important decisions that should be part of any business entity formation….
Now Is Your Last Chance To See If You Are Overpaying Your Property Taxes in 2016-2017 Challenging your tax assessment is a process. There are deadlines, research, necessary documentation and forms, rules, and property history that need to be considered. Don’t be scared away from considering this because it may appear complicated. We can simplify…
New Family Paid Leave Law New York State has adopted a new Family Leave Law that is funded by payroll deduction from employees’ salaries and is mandatory regardless of the size of the employer. One supporting rationale has been that the United States is the only industrialized country in the world without paid family leave….
