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…

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Online 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.”…

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New 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…

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Estate 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…

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How 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?

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Purchasing 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…

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The 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…

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Nine 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…

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I 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…

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The 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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