Passing on the Mantle: 6 Tips to Ensure Solid Business Succession Planning

Most business owners devote their attention to immediate and pressing issues like good cash flow and a balance sheet that’s perpetually in the black. Retirement is like a distant mirage, and besides, the thought of handing the reins over to someone else can be both anxiety-inducing and daunting. How could anyone possibly take your place? How could anyone ever know how to do everything that you do? If this sounds Read More

Overtime Rules: What Your Employer Can and Cannot Do

If you’re thinking about doing a little extra work outside of your normal 40-hour per week schedule—working overtime—it’s important to know your rights to overtime pay as well as what your employer’s rights.   New York’s overtime rules add to and mirror employment laws at the federal level enshrined in the Fair Labor Standards Act (FLSA). Generally, employees who work over the 40-hour a week schedule are entitled Read More

4 Common Mistakes Condo Investors Should Avoid

When you venture into the condo-investing market, your goal is to make a profit. Although real estate is generally regarded as riskier than stocks or bonds, the opportunity for an excellent return on your investment makes it worth the gamble for many people. The old adage “An ounce of prevention is worth a pound of cure” is especially appropriate for condo investors, whether you are buying your first property or Read More

Embroiled in a Business Dispute? These 4 Signs May Indicate You’re Headed for Litigation

Running a business can be as risky as it is rewarding. With so many other parties involved in its daily activities, it’s only a matter of time before you become embroiled in a dispute with a partner, employee, customer, or vendor. While many of these disagreements can be resolved via negotiation or mediation, others end up being litigated. Over 100 million lawsuits are filed in state courts across the U.S. every Read More

4 Common Payroll Mistakes Every Small Business Must Avoid

When your business grows enough to sustain a small workforce, you have cause to celebrate. You took a great idea or promising concept, made it resonate with consumers, and now you’re doing well enough to hire employees. Congratulations! To help you remain firmly on the path to success and profitability, we have listed the four most common mistakes that small business owners make with payroll, and show you how to Read More

Understanding the 421-a Tax Abatement Program

The 421-a Tax Abatement Program, which was resurrected last April after nearly a year of stasis, reduces the property taxes on land that is developed for residential use. For several years the owner of a qualifying property pays taxes only on the property’s original value as opposed to the higher value it attains after homes, apartments, or condos are built on the site. At the end of the designated time period, there Read More

5 Steps You Can Take Right Now to Maximize the Value of Your Business

As an entrepreneur, you probably started a business to be your own boss, develop your personal wealth and, ideally, leave a legacy that will sustain current and future employees. Therefore, when it comes time to sell, you deserve to get the most value out of all the dedicated hard work you’ve put in. Here are five steps you can take right now to accomplish that goal and get the sale price you need to retire on or Read More

4 Reasons You Need Legal Counsel for Real Estate Purchases

Whether you’re buying your first home or expanding an existing property portfolio, real estate purchases have a lot riding on a successful transaction. One important misstep can cost you even more money to fix. This fact alone makes attorney involvement strongly advisable but some buyers, aware of the fact that hiring a real estate attorney is not legally required, try to cut costs by handling the entire process Read More

Condominium Law: Understanding the Importance of a Customized Offering Plan

A condominium offering plan should outline the details of the transaction and the building development, while also establishing the relationship between the unit owners, the board, and the sponsor. As offering plans can include several hundred pages of documentation, it’s essential to have an attorney look out for potential problems. It’s even more vital to have that attorney draft a customized offering plan, rather Read More