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Employment Law

How Long Should You Keep Employee Records?

One of the most frequently asked questions is how long a company must retain employee records under various federal labor and employment laws. Here are the answers: Fair Labor Standards Act (FLSA) Under the FLSA, you must keep records for either two years or three years, depending on the type of document. Supplementary basic records […]
Business Fraud Prevention

Don’t Undermine Internal Fraud Investigations

For even the largest and most sophisticated organizations, internal fraud inquiries can pose numerous challenges that can send a case off track, cause legal expenses to skyrocket, and put your enterprise on the losing side.Ranging from lax investigations to not knowing enough about local law, here are examples of six mistakes that turned victory into defeat: 1. […]
Timely Opportunities

Oops … Do You Need to Amend Your Tax Return?

There are several reasons why an employer might encourage employees to get involved in community service and volunteer activities outside the workplace. The activities result in good public relations. It’s also good for employees’ morale and their pride in the company or organization. It may even help the employer attract and keep better employees. So, […]
Timely Opportunities

Good News: IRS Boosts Standard Mileage Rates for Second Half of 2022

If rising health care costs have sent your company searching for ways to reduce expenses, you should know there are alternatives to standard medical insurance plans. Your choices are not limited to either paying the higher costs yourself or transferring the burden to your employees. Tax-advantaged strategies are available which can mitigate the effect of […]
Commercial Law

Contract Quiz

The answer is C. The term force majeure is French for “an act of God.” Force majeure clauses in contracts are usually applicable to performance failures caused by: Natural disasters such as earthquakes, hurricanes, floods, tornadoes or fires caused by lightening. Wars, riots or similar events. Consequences that are outside the control of one of […]
Estates

Plan Now So Guardianship Is Not Necessary

Here’s a scenario that some family members sadly face: They contact their estate planning attorney to explain that an elderly relative is no longer able to care for himself or herself. Perhaps the family members just went to visit the loved one and found filthy living conditions, bills piled up, and little food in the […]
Timely Opportunities

Social Media Marketing: The Latest Trends and Services You Need to See

Sad but true. Generally the task of preparing the content of an employee handbook falls to someone who lacks strong writing skills. After all, executives, managers and supervisors usually aren’t hired because of their professional writing skills. What an Employee Handbook SHOULD Include An Introduction. An employee handbook should be an introduction to your business […]
Timely Opportunities

Bankruptcy Law Changes: Silver Lining in Dark Cloud

“I was thrown into the job with no training. I asked for some one-on-one time with my manager to go over the project inside out, but he never had the time. I sensed he didn’t really know enough to be able to thoroughly brief me anyway. When I got feedback that certain work wasn’t acceptable, […]
Business Law

Watch Out for Unfavorable ‘Related Party’ Rules

Beware of the tricky “related party” tax rules if you are considering buying or selling business assets or an ownership interest (corporate stock or a partnership or LLC interest). The Internal Revenue Code contains a number of rules aimed at penalizing sales between individuals or entities that are considered closely connected and thus more likely […]
General Litigation

Taxes on Personal Injury Awards and Settlements

Hopefully, you will never need to know how payments for personal injuries are taxed. But here are the rules, just in case you or a loved one does need to understand the rules. Payments for Physical Injury or Sickness Are Federal-Income-Tax-Free Payments you receive as compensation for physical injury or physical sickness are federal-income-tax-free (Internal […]