New York City has proposed legislation to end "at will" employment

Every holiday season brings on an increase in gift card scams. Unfortunately, scammers often use gift cards as a way to steal value from their victims. There are dozens of ways gift cards can be used by scammers to steal money.

New York State Governor Kathy Hochul signed Bill A8092B into law on November 21, 2022, amending Section 215 of the New York Labor Law (NYLL) to prohibit employers from disciplining employees who take legally protected time off from work.

WHAT TO DO IF YOU HAVE AN UNWANTED INTEREST IN A TIMESHARE: Parents bought a timeshare at a vacation resort, and the resort representative advised them to execute a deed transferring ownership to their surviving children. At the time, it seemed like a good idea. Unfortunately, once Mom and Dad passed, the children were shocked to receive demand letters from the resort charging them hefty annual maintenance fees.

ASPIRING ENTREPRENEURS – LEARN THE BASICS OF SETTING UP A BUSINESS: Here are a few things new entrepreneurs need to do when starting their business.

Tax Credits vs. Tax Deductions – The government can provide a tax deduction or a tax credit to incentivize specific activities. Tax deductions reduce income subject to tax, whereas tax credits reduce the amount of taxes owed. Which is more valuable? As with most tax answers, it depends on the situation.

The Adult Survivors Act, a law recently signed by New York Governor Kathy Hochul, will go into effect on November 24, 2022, and provide a one-year window for individuals to bring certain previously time-barred sexual offense claims, regardless of when the alleged act occurred.

In October 2022, the EEOC released a “Know Your Rights” poster, updating and replacing the previous “EEO Is The Law” poster. The covered employers are…

If someone dies with a will, their will specifies who receives their property and who is in charge of settling their estate (called the executor). Beneficiaries can feel slighted by what they did or didn't receive, and some individuals are entirely excluded from inheriting anything at all. The legal process of challenging the validity of a will is called a will contest (or “contesting a will”).

The U.S. Department of Labor (DOL) has issued its anticipated proposed rule to clarify who is an independent contractor under the federal Fair Labor Standards Act (FLSA). Under the current 2021 rule, two “core factors,” those being control over the work and opportunity for profit or loss, carried greater weight than “non-core factors” in determining the status of independent contractors. The 2021 rule, which remains in effect until the proposed rule can be finalized, made it easier for employers to classify workers as independent contractors rather than employees.

STATE PLANNING USING 1031 EXCHANGES AND DELAWARE STATUTORY TRUSTS: Section 1031 of the U.S. Tax Code allows investment property owners to defer capital gains taxes and depreciation recapture by exchanging their relinquished property for “like-kind” replacement property.

Pell vs. Non-Pell: Loan forgiveness of up to $10,000 is available to non-Pell Grant recipients and up to $20,000 for Pell Grant recipients. Only Federal Student loans are able to be forgiven. Loans held through a private lender are ineligible for this program.