Blog
When Commercial Leases Don’t Mean What They Say
February 9, 2018 By: Barry M. Shulman
So you’re presented with a Commercial Lease, say a business retail tenant in a shopping center. You’re perhaps a Landlord, or a Tenant. You carefully review all of the terms and have no problem with their clarity. They’re explicit and unambiguous. What you might not realize is that there can be a third and silent…
Read moreOnline Privacy 101
February 5, 2018 By: John J. Sierotnik
Although we may not be conscious of it, nearly every action we take online involves sharing some amount of information with a website or its advertisers. Because of this sharing of information, most sites on the Internet have a lengthy document somewhere on the site, frequently written in legalese that they call a “Privacy Policy.”…
Read moreNew Tax Bill Drastically Changes Treatment Of Alimony
January 15, 2018 By: Jillian DiLaura McGuire
For the last seventy-five years, a spouse paying alimony (also known as “maintenance” or “spousal support” in New York and many other jurisdictions) has been able to deduct the alimony award from his or her tax return each year. Likewise, the spouse receiving the maintenance has the obligation to include the total amount of alimony…
Read moreEstate and Gift Law Changes under the 2017 Tax Cuts and Jobs Act
January 15, 2018 By: Ryan T. Emery
The new legislation signed into law on December 22, 2017 has significant estate planning changes. The federal estate, gift and generation skipping tax exemption amount is now doubled to $11.2 million per person. This exemption is portable between spouses. The new legislation also increased the annual gift exclusion amount from $14,000 to $15,000 as of…
Read moreHow to Break Up with Your Service Provider
October 20, 2017 By: Mary Anne Cody
Have you ever tried to end a service contract only to be told your request is too late, as the contract you signed contained an automatic renewal provision?
Read morePurchasing Property with a Lease
October 12, 2017 By: Barry M. Shulman
Often when purchasing a company, certain assets pose issues not easy to discern. For example, a Purchaser can buy real estate through a purchase contract and perhaps even personal property such as furniture and furnishings, fairly easily. When purchasing real estate, title insurance can be ordered, surveys re-dated, and abstracts renewed. Information on mortgages can…
Read moreThe Federal and New York State Tax Advantages of Long Term Care Insurance
July 10, 2017 By: Ami S. Longstreet
If you have looked into purchasing long term care insurance, you know that it is an expensive proposition. However, there are some tax advantages related to the premium payments for long term care insurance. If you are an employee and itemize your deductions, you can deduct a portion of your long term care insurance premium…
Read moreNine legal concepts that affect your investment if you make a non-controlling (minority) investment in a business.
June 1, 2017 By: James H. Nicoll, John J. Sierotnik
Investors who make a non-controlling (minority) investment in a business must contend with a variety of legal issues as they negotiate the structure and terms of their investment. Below is a brief overview of nine legal concepts with which every minority investor should be familiar. Priority Returns. Companies are often structured to provide preferred or…
Read moreI received an unexpected offer to purchase my business. What do I do now?
January 11, 2017 By: Bradley J. Moses, James H. Nicoll
Many business owners have been caught off guard by the receipt of an unexpected offer from a third party to purchase their business. Here are six immediate steps that you should consider taking if this happens to you. 1) Request a letter of intent. If you haven’t received a signed letter of intent (LOI) from…
Read moreThe Best Gift To Your Family (and it doesn’t cost a thing)
December 23, 2016 By: Mary Anne Cody
There is one gift you can easily assemble in under ten minutes, at no cost, that will someday be greatly appreciated by your loved ones. A letter of instruction can provide great comfort and relief to your family when you are not available to provide guidance in person.
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