Forming A Business Corporation in New York

forming a business in New YorkThere are many types of business entities you can form, including sole proprietorships, partnerships, LLCs, and corporations, among others. Many entrepreneurs opt to form a corporation because of the unique benefits that are associated with it, which include: Continue reading “Forming A Business Corporation in New York”

Landlord & Investor Q&A August 2018: Presented by Attorney Jim Clark

In this segment Jim Clark answers the most popular questions that come up through his interactions with landlords and real estate investors through his presentations to local organizations, networking, one on one conversations as well as direct posting through his website and social media. Continue reading “Landlord & Investor Q&A August 2018: Presented by Attorney Jim Clark”

Supreme Court Rules in Favor of Business in Same-Sex Wedding Cake Matter

Garden City business lawyerOn June 4, the U.S. Supreme Court ruled in favor of a Colorado baker who invoked his religious rights and refused to make a wedding cake for a same-sex couple in Masterpiece Cakeshop v. Colorado Civil Rights Commission. The ruling was 7-2. However, the court’s decision did not resolve the larger issue of whether or not business owners can refuse service to lesbian, gay, bisexual, and transgender (LGBT) individuals based on religious beliefs alone. Continue reading “Supreme Court Rules in Favor of Business in Same-Sex Wedding Cake Matter”

New Tax Law Cracks Down on Entertainment Expenses for Businesses

Newsmax FinanceGarden City business lawyer reported on a little-known item in the new tax law that will do away with special interest tax breaks and loopholes, among them the elimination of a company’s ability to write off entertainment as part of its business expenses. Continue reading “New Tax Law Cracks Down on Entertainment Expenses for Businesses”

The Religious Rights of Business Owners and the Right to Refuse Service

Garden City business lawyerIn the past few years, the Supreme Court has had to make a number of decisions regarding the rights of businesses to accept and reject certain transactions and whether to provide certain benefits. In the 2014 case of Burwell v. Hobby Lobby Stores, Inc., the Court decided that laws that contradict or interfere with a business’ right to exercise religious freedom may be unconstitutional and impermissible. In that case, President Obama’s healthcare plan required that certain businesses provide healthcare coverage to their employees, which included the requirement to provide coverage for female contraception. Continue reading “The Religious Rights of Business Owners and the Right to Refuse Service”

Compliance Is Key to Running a Successful Business in New York City

New York City business compliance lawyerA New York City hospitality owner should always remain compliant with both state and city regulations, otherwise he or she will be subject to hefty fines and penalties. In New York City, bars, restaurants, and nightclubs are the most likely to be subject to noise, food, or health code violations by agencies such as the Department of Health, Department of Buildings, FDNY, NYPD, NYS Liquor Authority, or even the Federal Alcohol Tobacco and Firearms Agency (ATF). Continue reading “Compliance Is Key to Running a Successful Business in New York City”

What to Consider When Drafting a Partnership Agreement

Starting a partnership can be a very exciting time for new entrepreneurs. When starting a partnership in New York, there are several steps to follow. While drafting a partnership agreement is not mandatory in New York, it is recommended so that there are no misunderstandings between you and your business partners. Executing a well-drafted partnership agreement can help your partnership plan for any future occurrences and help your business run smoothly. In drafting a partnership agreement, there are several things that should be covered. Continue reading “What to Consider When Drafting a Partnership Agreement”

Estate Planning for Business Owners

Owning a successful business takes years of hard work and dedication. But failing to establish an estate plan that accounts for your business, could place your business in jeopardy upon death. While many individuals shy away from estate planning because of the chilling thought of death, assuring your business remains viable upon death could mean the difference in providing for your family, employees, and loved ones in the long run. Proper estate planning can take into account various aspects of business ownership and help ensure that your business continues to operate as you see fit. Continue reading “Estate Planning for Business Owners”