Si usted es un director o funcionario de una corporación que se encuentra en proceso de disolución, debería evaluar si pudiese ser responsable personalmente por obligaciones y deudas de la corporación. Si no se siguen los trámites corporativos y la corporación procede con las distribuciones a los accionistas antes de satisfacer las deudas corporativas pendientes, Read More »
If you are the director or a corporate officer of a corporation in the process of dissolution you might want to evaluate whether you will be personally held liable. If corporate formalities are not followed and the corporation proceeds with distributions to the shareholders before satisfying outstanding corporate debts, the directors might be held personally Read More »
Generally, independent contractors, also known as 1099 workers, are considered self-employed and a sole-proprietorship. As such you will be required to pay self-employment taxes. As an independent contractor, you can be sued for your actions or inactions in performing your work. Thus, while a sole proprietorship is the cheapest option, your personal assets may be Read More »
Restrictive covenants (RC), generally, are clauses in a contract that restrict a person’s actions. They can apply to property, in which case the clause could restrict the use of land. However, for the purposes of this blog, we will discuss RCs in employment. RCs in employment are typically meant to prevent former employees from competing Read More »
When writing a contract people usually think that putting in the basics about what they are agreeing to and some standard legal language will cover everything with the agreement. However, most people don’t like to think of the possibility that something may go wrong with their contract and may end up having to take that Read More »
The Americans with Disabilities Act (ADA) enacted in 1990, prohibits discrimination on the basis of disability. Specifically, Title III of the ADA prohibits discrimination on the basis of disability in a place of public accommodation, including movie theaters, schools, restaurants, and office buildings. All public places and privately-owned commercial facilities must comply with ADA standards. Read More »
The Fair Labor and Standards Act (FLSA) provides that employees paid on an hourly basis must be compensated at the rate of one and one-half their regular wage for each hour over 40 worked in a week. It’s fairly simple, if you are paid $10 an hour and you work 50 hours in one week, Read More »
The first and second post of this series on QBI deductions analyzed the purpose of the deduction and how it applies specifically to taxpayers below the lower threshold or above the higher threshold. This post addresses taxpayers that fall between the two thresholds. Taxpayers between the lower threshold ($157,500 for individuals or $315,000 for joint Read More »
The first post in this series on QBI deductions examined the purpose of the deduction, who can claim it, and how to calculate QBI deductions for taxpayers in a lower threshold. This post specifically addresses taxpayers with a taxable income above the higher threshold of $207,500, for individuals, or $415,000, for joint filers. If a Read More »
A new and important provision in the Tax Cut and Jobs Act (TCJA), enacted in December of 2017, is Section 199A, which allows deductions for qualified business income (QBI). This post is part one of a three-part series and addresses what QBI is, who may claim QBI deductions, how they may claim such deductions, and Read More »