Employment agreements are essential to protect your business and your employees. These agreements create legal obligations and represent the contractual relationships between employers and employees. A word of caution, however: Not all employment agreements are the same. An employment agreement c...
If you own a small business, developing your succession plan is a critical element of business planning. Many business owners fail to appreciate the complexities and time involved in successfully transitioning a business. Entangled in the day-to-day management of their companies, they neglect thi...
Limited liability companies (LLCs) are one of the most popular types of business entities. The LLC's flexible taxation options are one reason it is preferred; LLC members can, for the most part, choose how they would like to be taxed. The LLC enjoys this flexibility because the Internal Revenue S...
Contrary to popular belief, the S corporation is not a distinct entity type. According to the Internal Revenue Service (IRS), an S corporation is a corporation that has elected treatment as a pass-through entity for federal income tax purposes under Subchapter S of the Internal Revenue Code[1]. T...
For most entrepreneurs, handling business taxes is a daunting but necessary task. The complexities of tax preparation often lead business owners to procrastinate or neglect proper record keeping and tax deadlines. Nevertheless, following these basic steps can simplify the process and guide you as...
You are a new business owner and have decided to organize your business as a limited liability company (LLC). You are its sole owner and work for the company. How do you pay yourself? Are there guidelines regarding how often and how much you are entitled to? How do self-employment taxes come into...
Following a hearing in support of a request for declaratory judgment, U.S.D.C. Judge Stickman sided in favor of business owners over the Governor's mandated shutdown of businesses under the "life-sustaining" and "non-life-sustaining" designations published and re-published numerous times over Ma...
As a business owner, you may be considering starting an internship program for your company. Internships can be beneficial to both you as a business owner and the intern. Interns can receive hands-on training in their field of interest while assisting your company in reaching its goals. However, ...
The September 1, 2020 IRS email blast included the following helpful information. Tax Tip 2020-112 Choosing a trustworthy payroll service provider can protect employers from fraud When hiring a company to handle payroll and payroll tax, employers should carefully choose their payroll service ...
A skilled attorney is a critical part of any business owner's advisory team. Business attorneys are equipped to assist you in handling a variety of tasks that can protect you from potential legal and business pitfalls, in addition to solving existing legal issues. As important as they are to your...
We will tackle a variety of topics on September 21, 2020 at 3 pm. Top 10 Mid-Pandemic Issues for Small Businesses This 30 minute presentation followed by Q&A will touch on 10 of the most compelling legal issues facing small business as as we remain in the mid-pandemic phase. Contr...
In a matter of weeks, the COVID-19 pandemic has impacted the world and forced communities to reevaluate everything. Despite the unpredictability that has accompanied this global crisis, it is not too late to implement changes to protect you, your employees, and your business. Here are some tips a...
Our next 30 minute " Essentials" webinar series kicks off on August 31 with a special focus on family business succession planning. Jim Creenan and Kevin Nowe will present a fast-paced, practical overview of the process to business owners and their allies. Who? Many of our clients have car...
As small business owners grapple with the economic realities of nationwide stay-home orders and social distancing mandates, legislatures have been updating laws and developing new programs to keep the economy afloat. The latest and most groundbreaking is the Coronavirus Aid, Relief, and Economic ...
In today's data-driven world, small businesses often find themselves in possession of sensitive customer data. As the collection of data increases, customers grow more suspicious of the means and methods used to collect and store data. In response to this growing concern, we are seeing increased ...
Conversations about data privacy policies and website terms of use have become more common in recent months. Large companies like Facebook,[1] Expedia,[2] and Dick's Sporting Goods[3] have been involved in litigation involving agreements that address these very issues. The questions on most busin...
Almost all business owners eventually must make the difficult decision to terminate an employee. Whether that decision arises from failure on the employee's part or economic turbulence, one thing is clear: How a business handles this delicate situation can either increase or decrease the risk of ...
Despite the uncertainty that has accompanied the COVID-19 pandemic and that still lies ahead, one thing remains certain: Most businesses will eventually reopen. On April 16, 2020, President Trump set forth guidelines for the reopening of businesses in the United States. Additionally, governors fr...
Businesses across the globe have experienced unprecedented interruptions and closures because of the COVID-19 pandemic. As a result, many businesses are finding it difficult to perform their contractual obligations. Consequently, a common but often overlooked contractual clause is in the limelig...
This week, Governor Wolf signed yet another Executive Order preventing residential evictions. Specifically, the EO states: Section 2: Notice Requirements of the Landlord and Tenant Act and other Acts Suspended Commencing on July 10, the notice requirements mandated by the Landlord and Tenant...
For your information, the PA Department of Health has issued the following travel related restrictions due to COVID-19 pandemic. Employers should inform staff of these current limitations with instructions to work from home or use other PTO to cover the additional days away from work. COVID-...
According to PA Treasure Joe Torsella: "The Pennsylvania Treasury is currently seeking the owners of more than $3.5 billion in unclaimed property. Treasury receives hundreds of millions of dollars in unclaimed property every year. These items and funds go missing, often for things as simple as ...
On May 4, 2020, the Internal Revenue Service (IRS) published questions and answers regarding retirement provisions in Section 2202 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. In addition to providing aid for individuals and businesses, the CARES Act increases accessibility ...
One of the major provisions of the CARES Act is the Payment Protection Program (PPP), a loan program created to incentivize the retention of employees in small businesses. Under the PPP, small businesses can obtain loans to pay for payroll, mortgage interest, rent, and utilities. The deadline for...
The post-COVID-19 world will likely see a major shift toward companies maintaining remote workforces. Due to government-mandated business closures and stay-home orders, many owners and employees of small businesses have been forced to work virtually, and they have seen the benefits. Studies show ...
Creenan & Baczkowski, PC can represent you and your organization in Real Estate/Construction, Estate Planning, Civil Litigation, and Business law issues in Westmoreland and Allegheny Counties, in Pennsylvania. Contact us today to schedule an appointment.
