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General Litigation
Supreme Court Quiz
When the U.S. Supreme Court first met in 1790, there were six justices (so the answer is A). The number of justices fluctuated until 1869, when it stabilized at nine. FDR’s Proposal “What is my proposal? It is simply this: whenever a judge or justice of any federal court has reached the age of 70 […]
Intellectual Property
Guarding Information that Gives a Competitive Advantage
Your company probably has security systems in place to prevent theft of computers, machines and products, yet you may not be doing enough to safeguard your customer lists, new product designs and marketing strategies. High-tech firms and manufacturers are prime targets of intellectual property theft but many other types of companies can become victims. Businesses […]
Timely Opportunities
New Challenges of Using Remote Workers
The pandemic has changed workplace culture, probably forever. As events unfolded over the last few years, many employers shuttered their doors completely or scaled back to using only essential workers at their regular workplace. Remote workers became a commonplace occurrence rather than an unusual situation, even for traditional work-on-site businesses. Now that health conditions have […]
Timely Opportunities
Let’s Be Reasonable about Owners’ Compensation
Is it possible to have too much of a good thing? The IRS thinks so, at least in the context of compensation paid to business owners. If an owner’s compensation is deemed excessive, the IRS may dispute deductions for wages that are unreasonable under the circumstances. A recent U.S. Tax Court case shows that “reasonable […]
Employment Law
Nip Retaliation in the Bud
It’s the workplace version of road rage: An employee claims harassment or discrimination by a supervisor. The manager denies the charge and says the employee is a troublemaker. In the interests of peace, the company transfers the complainant to another job. Next thing you know, the firm is slapped with a lawsuit charging that it […]
Business Fraud Prevention
Two Common Types of Financial Fraud That Can Hurt Your Business
Many financial frauds and deceptions fall into two basic categories: “If employees perceive their company’s fraud controls to be weak or if they think management is only giving lip-service to ethical behavior, fraud is inevitable.” — Association of Certified Fraud Examiners 1. Misstatements on company financial reports (balance sheets, income statements, and so forth). 2. […]
Timely Opportunities
Financial Reporting Check-Up: How Fiscally Fit Is Your Company?
Comprehensive financial statements prepared under U.S. Generally Accepted Accounting Principles (GAAP) include three reports: the balance sheet, income statement and statement of cash flows. Together these reports can be powerful diagnostic tools to help evaluate the financial well-being of a business. Moreover, by carefully analyzing them, you may be able to uncover potential money-management problems […]
Timely Opportunities
Do You Know the Tax Implications of Equity-Based Compensation?
Equity-based compensation often is associated with startup companies. But businesses in a cash crunch also might consider such awards in lieu of year-end cash bonuses. In addition to recognizing high performance, stock options and other types of equity-based compensation can boost retention. Before you jump in headfirst, it’s important to understand the different types of […]
Commercial Law