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Kevin McKernan Kevin McKernan

Recently New York City Imposes Pied-a-Terre Tax on Nonresident Homeowners

New York City's proposed pied-à-terre tax could affect owners of high-value, non-primary residences, including properties held through trusts, LLCs, and corporations. Learn about potential tax thresholds, primary residence exemptions, implications for trusts and estates, and how nonresident homeowners can evaluate their exposure, understand possible exemptions, and protect their rights as legislation develops.

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Kevin McKernan Kevin McKernan

I Want my Money Back: A Primer on Recovering Inadvertent Overpayments

Recovering accidental employee overpayments requires careful attention to state wage deduction laws. Learn how New York employers can address payroll errors, comply with notice requirements, follow restrictions on deductions, and handle employee disputes. Explore practical strategies for recovering inadvertent overpayments, including direct deposit reversals, while minimizing legal risks and maintaining compliance with employment laws.

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Kevin McKernan Kevin McKernan

IRS: Beware of Fake Charities; Check Before Donating

Protect yourself from fake charity scams before making a donation. Learn how to use the IRS Tax-Exempt Organization Search (TEOS) tool to verify legitimate charities, confirm eligibility for tax-deductible contributions, and review tax-exempt status. Follow key IRS tips to avoid pressure tactics, suspicious payment requests, and fraudulent organizations when giving to charity.

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Kevin McKernan Kevin McKernan

10 Step Checklist for Selling Your Business

Selling your business requires careful preparation, valuation, negotiation, and due diligence. Follow this 10-step checklist for selling a business, from deciding when to sell and finding the right broker to reviewing the LOI, preparing for buyer due diligence, negotiating the purchase agreement, and completing a successful closing and ownership transfer.

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Kevin McKernan Kevin McKernan

Advantages of a Revocable Trust

A revocable trust can provide greater flexibility, privacy, and control over your estate. Learn how a lifetime trust may help avoid court involvement, simplify administration of assets across multiple states, control distributions to beneficiaries, and provide a smooth transition for managing finances during incapacity. Discover whether a revocable trust fits your estate planning goals.

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Kevin McKernan Kevin McKernan

Small Business Thoughts

Small business success requires perseverance, preparation, action, continuous learning, and skill development. These timeless business lessons offer practical inspiration for entrepreneurs navigating challenges and pursuing growth. Learn how persistence, thoughtful strategy, hands-on experience, preparation for setbacks, and sharpening your skills can help you make stronger decisions and build a more resilient business.

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Kevin McKernan Kevin McKernan

1031 Exchanges

A 1031 exchange can allow real estate investors to defer capital gains taxes when exchanging qualifying investment or business property. Learn the key IRC §1031 requirements, including like-kind property rules, 45-day identification and 180-day exchange deadlines, safe harbor restrictions, qualified intermediaries, and special requirements for reverse exchanges involving an Exchange Accommodation Titleholder.

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Kevin McKernan Kevin McKernan

Employer Liability for Harassment by Non-Employees

Can an employer be liable when an employee is harassed by a customer, vendor, or other non-employee? The legal standard may vary by jurisdiction, but employers should take complaints seriously. Learn how non-employee harassment can create workplace liability and why employers should promptly investigate complaints and take appropriate steps to protect employees.

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Kevin McKernan Kevin McKernan

How To Obtain A NJ Accident Report, Now Called Crash Report

Need to obtain a New Jersey accident report, now called a crash report? Learn how to request reports from local police or New Jersey State Police, including online and mail options, required forms, fees, and procedures for toll-road, non-toll-road, serious, and fatal crashes. Following the correct process can help avoid unnecessary delays.

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Kevin McKernan Kevin McKernan

A Disability Doesn't Excuse an Employee's Misconduct

The Americans with Disabilities Act requires reasonable workplace accommodations, but a disability does not automatically excuse employee misconduct. Learn how recent federal court guidance addresses an employee’s responsibility to request accommodations, when disability-related conduct may still result in discipline, and what employers should consider when balancing ADA compliance with workplace conduct and performance standards.

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Kevin McKernan Kevin McKernan

New Jersey Estate – Child Support of Beneficiaries

New Jersey executors and administrators must complete a child support judgment search before distributing an inheritance to beneficiaries. Learn how NJSA 2A:17-56.23(b) affects estate distributions, what beneficiary information is required, how outstanding child support liens are handled, and why fiduciaries must follow these mandatory procedures to avoid potential personal liability.

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Kevin McKernan Kevin McKernan

The Pros and Cons of Owning Real Property in New York as a LLC

Owning real property in New York through an LLC can provide liability protection, privacy, and financial advantages, but it also carries potential tax, financing, and compliance concerns. Learn the pros and cons of LLC real estate ownership, including transfer taxes, Labor Law liability, corporate formalities, and costs before choosing the right ownership structure.

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