Blog

Four Quick Tips For Small Businesses During the Corona Virus Epidemic

March 18, 2020 By: Neil J. Smith

So you’ve followed all the CDC guidelines, obeyed the orders issued by Governor Cuomo, and heeded the advice of my colleague Chris Jones with the same fanatical devotion as a samurai obeying his master.  (https://www.mackenziehughes.com/blog/new-york-provides-for-additional-paid-sick-leave-and-other-benefits-for-employees-under-covid-19-quarantine-order/). But most companies in the US are heavily indebted, and almost all companies’ cash flow will be reduced to a…

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New Legislation and Estate Planning

January 9, 2020 By: Anne B. Ruffer

New Legislation and Estate Planning What is the buzz about the SECURE Act that keeps popping up in news reports, tweets and in your email account?  You are curious to find out but you’ve always been too busy to sit down and read about it. Take a few moments and read on. The SECURE Act…

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Estate Planning Considerations for the year 2020

January 7, 2020 By: Mary Anne Cody

The start of a new year is always a good time to step back and consider estate planning.  A carefully thought out plan is a wonderful legacy for your family. With the turmoil that now exists in our nation’s capital and the national elections which will take place next year, we should carefully consider what…

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New York Law Unmasks Anonymous LLC Ownership of Residential Real Property

November 4, 2019 By: Ian S. Ludd

Anonymous members of LLC’s that own residential real property in New York State may not be able to maintain anonymity much longer. Surprising law makers and real estate professionals alike, a new law is being interpreted to have a far greater reach and impact than previously thought. Senate Bill S1730, signed by Governor Cuomo on…

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Successful Family Business Succession Planning or How to Become a Member of the Henokiens Association

June 30, 2019 By: Mary Anne Cody

A common goal of owners of family-held businesses is for the business to survive for generations to come while still being owned or managed by the family.  The odds do not favor the survival of family businesses to the third generation.  Yet, there are businesses which do survive and survive very well for many generations. …

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What is Mediation, and Why Does it Work?

June 26, 2019 By: Stephen T. Helmer

In recent years, I have developed a busy practice as a mediator, while also continuing to pursue my very active litigation practice.  What is mediation?  It is a voluntary settlement conference, in which the parties to a dispute try to negotiate an agreement resolving their differences, with the assistance of a neutral third-party facilitator, called…

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Important Changes to New York’s School Tax Relief (STAR) Program

June 17, 2019 By: Ami S. Longstreet

New York State has a school tax relief (STAR) program available to New Yorkers who own their home as their primary residence and earn less than $500,000 per year. Previously, this relief was in the form of a partial exemption on the school tax bill. New York started issuing STAR checks instead of partial tax…

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Collaborative Law: An alternative to consider when facing Divorce

June 14, 2019 By: Jillian DiLaura McGuire

Separation and divorce can be an overwhelming and terrifying process.  In an instant, everything you hold nearest and dearest – your children, your home, your business, your money – is being examined, considered, and divided.  This process is overseen by a judge, a person you have never met, who does not know you, and who…

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New York State Budget Extends “Clawback” of Gifts for New York Estate Tax Purposes

April 17, 2019 By: Ami S. Longstreet, Ryan T. Emery

New York State Budget Extends “Clawback” of Gifts for New York Estate Tax Purposes As an update to Ryan’s 2014 blog that in part discussed New York’s treatment of gifts, New York had let a provision in the law lapse that required the value of certain gifts to be included back into a New York…

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Opportunity for Businesses and Investors in Central New York: Opportunity Zones, Opportunity Funds, and Qualified Opportunity Zone Businesses

February 13, 2019 By: Ian S. Ludd

The 2017 Federal legislation “Tax Credit and Jobs Act” created a new opportunity for both businesses and residents of economically distressed communities. The benefits offered by the new Opportunity Zone Program created by the Tax Credit and Jobs Act has the potential to attract significant investment to qualified Opportunity Zone businesses across the country and…

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