The estate and gift tax exemptions have undergone substantial changes from 2022 to 2023 due to certain inflation adjustments provided under the current law. These exemptions, sometimes collectively referred to as the “unified credit,” represent the amount an...
Happy New Year. This time next year, the corporate-law world will see a significant change. The Corporate Transparency Act will take effect on January 1, 2024, requiring almost every U.S. entity to report its ownership to the IRS Financial Crimes Enforcement Network...
The federal government is changing the way we launch new businesses. Acting under the belief that too many criminals are using anonymous shell companies as a mask, Congress adopted the Corporate Transparency Act (the “CTA”). The CTA requires most businesses to report...
For the landlord of commercial property, the lease is a high-stakes document, because it sets the parameters of a long-term relationship. And unlike a residential lease, there are not many government regulations as to what may be included or omitted. When our firm...
Today, LLCs are ubiquitous. Even the least business-savvy person will recognize that most companies with whom they deal are limited liability companies, and not corporations. I have heard lawyers say, “It’s malpractice to use a corporation nowadays.” While that phrase...
When developing a new small business, one consideration for entrepreneurs is to find an idea that fits their talents, interests and goals. A business that is a poor fit for yourself and your partners is unlikely to succeed. Similarly, your new business needs a...
Effective January 1, 2022, all limited liability companies (“LLC” or “LLCs”) within the State of Ohio will be governed by Ohio’s new limited liability company act, codified in Chapter 1706 of the Ohio Revised Code (the “Revised Act”). The Revised Act is a complete...
The $900 billion, 5,593-page stimulus bill includes major benefits for PPP-eligible businesses. A hard-hit business may obtain a second PPP loan, with a principal amount equal to the lesser of $2 million and 2.5-times average monthly payroll (measured during either...
SBA rolled out a third forgiveness form, one that will all but assure full forgiveness for small businesses that borrowed up to $50,000 under the Payroll Protection Program. Form 3508S will not penalize a borrower for reductions in payroll or reductions in employee...
Urged by the Trump Administration, the Centers for Disease Control published an emergency order today that halts evictions under certain circumstances for the remainder of 2020. What does this mean for landlords and tenants? First, this is a much more expansive order...
