Business Law

Launching a Business? It’s Time to Meet With a Tax Attorney

On behalf of Frost Law posted in on April 23, 2020.

A tax attorney is uniquely skilled to help individuals with various tax matters, such as resolving tax controversies with the IRS and creating tax plans to minimize liability; however, a tax attorney can also help you launch your business. Here’s how. Starting your own company is an incredible experience. Maybe you’ve been dreaming of launching […]

Tags: Articles, Business Law

Want to Be Your Own Boss? Here is What You Need to Know

On behalf of Frost Law posted in on April 22, 2020.

If you want to start a business but don’t know where to start, you’re not alone. Often business owners run into trouble, because they inadvertently forget to license or follow an applicable rule when establishing their business. Starting your own business doing something that you are passionate about is very exciting. However, all of the […]

Tags: Articles, Business Law

A Stretch IRA and How it Can Benefit You

On behalf of Frost Law posted in on April 20, 2020.

A stretch IRA is an estate planning strategy that extends the life of an Individual Retirement Account (IRA) by allowing the original beneficiary to distribute the assets to a designated second generation beneficiary. This strategy allows the IRA to be passed on from generation to generation while extending its tax-deferred growth for years or decades […]

Tags: Articles, Business Law, Tax Topics

Protect Yourself from IRS Post-Bankruptcy Retirement Account Seizure

On behalf of Frost Law posted in on April 17, 2020.

Mary F. Lundstedt, Esq., AssociateCarly Steren, Legal Intern Many taxpayers are surprised and alarmed to learn that Federal tax liens survive a bankruptcy discharge. In other words, the IRS can still enforce its lien and seize property, even though the underlying taxes were discharged. Perhaps even more alarming to taxpayers, is the fact that even […]

Tags: Articles, Business Law, IRS

IRS Finalizes Safe Harbor for Rental Real Estate Enterprise to Qualify as Business for QBI Deduction

On behalf of Frost Law posted in on April 17, 2020.

Eli Noff, Esq., PartnerMary F. Lundstedt, Esq., Associate As we previously reported in Section 199A: New 20% Pass-Through Deduction,[1] the Tax Cuts and Jobs Act of 2017 created Internal Revenue Code (IRC) §199A, which provides a tax break to flow-through entities. Basically, some eligible taxpayers (excluding C corporations) may deduct up to 20% of “qualified […]

Tags: Articles, Business Law, IRS

Expanding “Gig Economy” Redefining Employee Classification

On behalf of Frost Law posted in on April 17, 2020.

Eli Noff, Esq., PartnerMary F. Lundstedt, Esq., Associate Both federal and state government agencies are increasingly scrutinizing the distinction between an employee and an independent contractor. On November 14, 2019, Bloomberg law reported that New Jersey’s Department of Labor and Workforce Development (NJ Labor Department) has informed Uber Technologies Inc. and subsidiary Rasier LLC (collectively, […]

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Court Finds that Passive Trustee Property Owner Not Liable for Lead Paint Poisoning

On behalf of Frost Law posted in on March 31, 2020.

Mary F. Lundstedt, Esq., Associate Michele R. Kendus, BSN, JD EXECUTIVE SUMMARY A party must be served in the legal capacity in which the party is sought to be obligated. Trustee is personally liable for a tort only if the trustee is personally at fault. Even as record title owner, a trustee of property that […]

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How to Ensure Your Business Will Thrive Without You

On behalf of Frost Law posted in on July 10, 2017.

Developing and implementing a succession plan can provide several benefits to CEOS and partners. According to the U.S Small Business Administration, Office of Advocacy, based on 2013 U.S. Census Bureau data, more than 51 percent of small business owners are ages 50 and older. These statistics show that a large percentage of business owners are […]

Tags: Blog, Business Law

Does Your Business Need an NDA?

On behalf of Frost Law posted in on June 15, 2017.

Non-Disclosure Agreements (NDA), also known as confidentiality agreements, are used to protect a business’s proprietary information. An NDA is a legally binding contract between a business and another party who agree to keep specific information, such as patents, recipes, marketing research and trade secrets, confidential. The definition in the NDA needs to be as specific […]

Tags: Business Law, Blog

Can Major Accounting Errors Result in Criminal Tax Charges?

On behalf of Frost Law posted in on October 2, 2015.

An accounting error might lead not only to a tax dispute, but charges of fraud. In a recent example, a corporation offered $1.5 million to settle charges of accounting fraud brought by the U.S. Securities and Exchange Commission. The SEC became involved because of the effect the accounting error had on the corporation’s shareholders. According […]

Tags: Blog, Business Law, Tax Crimes