Blog

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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It’s a Trap! Four Strategies for Turning Around a Struggling Company (That Almost Never Work)

December 2, 2016 By: Neil J. Smith

As a bankruptcy practitioner, I have seen a fair share of business failures. Unless a company’s management is particularly nearsighted (or the failure is sudden and due to external forces), towards the end management teams do usually recognize that there are problems and try to correct them.

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Industrial Development Agencies Located In The Central New York Regional Transportation District No Longer Exempt From The Additional Mortgage Recording Tax

December 1, 2016 By: Frederick W. Marty

In 1969, New York State enacted the New York State Industrial Development Agency Act which created industrial development agencies (“IDAs”). New York State created IDAs to promote the economic welfare, recreation opportunities and prosperity of the inhabitants of New York State. IDAs have traditionally provided financial assistance by offering exemptions from sales and use taxes,…

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To Shovel, or Not to Shovel

November 25, 2016 By: Samantha L. Millier

Winter is upon us in Central New York, complicating our morning commutes and creating more work for us each morning as we clean off our cars and shovel our driveways. Recently, in the City of Syracuse, clearing snow from sidewalks has become a hot button issue as the Common Council contemplated whether to impose fines…

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Federal Court Blocks Implementation of New Overtime Rules

November 23, 2016 By: Christian P. Jones

Late on Tuesday, November 22, 2016, the United States District Court for the Eastern District of Texas issued a nationwide preliminary injunction enjoining the U.S. Department of Labor (“USDOL”) from implementing and enforcing its new overtime rules. These overtime rules would have raised the minimum salary level for the white collar exemptions (executive, administrative, professional)…

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Fiduciary Access to Digital Assets

November 1, 2016 By: Ami S. Longstreet

On September 29, 2016, Governor Cuomo signed into law a new statute amending the New York Estates Powers and Trusts Law in relation to the administration of digital assets.

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Tips & New Initiatives for Health Care Plans from the Federal Department of Labor

October 20, 2016 By: Mary Anne Cody

Mary Rosen, the Associate Regional Director of the United States Department of Labor for New England including Upstate New York gave a presentation Wednesday on common issues with health care plans. She also described six tips for common plan errors and three new initiatives the DOL is working on. This seminar hosted by Anthony Stevens…

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Where Do The Presidential Candidates Stand On Estate Taxes?

October 4, 2016 By: Elizabeth A. Hartnett

Many Americans vote based on how a candidate’s position affects their wallets. Election 2016 has a wide range of proposals that may drastically impact the estate taxes of many citizens. This blog provides a brief overview.

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Estate Planning – Much More Than Signing a Will

September 23, 2016 By: Ryan T. Emery

In the age of the internet, there is a growing trend amongst the American populace who decide they need a Will to avoid the cost of a lawyer and use a legal services website like Legal Zoom® or use some free Will form found on the internet. However, there are many dynamics that go into…

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