Individuals who own 25% or more of a limited liability company, partnership, or other small entity that owns real estate or runs a small business, or who have substantial control over any company, will be required to register in a new federal database beginning in 2024.

The National Labor Relations Board (NLRB) has issued a ruling that employers cannot include confidentiality or non-disparagement provisions in severance agreements that would require employees to waive their rights under the National Labor Relations Act.

The Inflation Reduction Act includes several provisions that modify and extend tax credits for solar projects. One of the key provisions is the extension of the Investment Tax Credit (ITC) for solar energy property through at least 2033

The NJCCIC is warning of an increase in email phishing attacks. These emails, claiming to be from well-known companies, attempt to obtain account credentials and other personal information by including a transaction invoice and then directing victims to a malicious service helpline.

Unmarried couples should draft a comprehensive legal agreement, including a "living together contract," as part of their estate plan. If you do not want to marry but want to live together in an unmarried relationship, it is critical to create an agreement that clearly defines expectations, terms, and responsibilities.

Electronic notary services are the process of notarizing a document or signature electronically rather than in person. This usually involves using technology such as video conferencing or digital signature tools to verify the identity of the signer and to create an electronic record of the notarization. Electronic notary services have become more widely used due to the convenience they offer.

A new law, NY Executive Law § 135-C, authorizes notaries to perform electronic notarial acts by registering with the Department of State and complying with new rules. Notaries wishing to provide electronic notary services will be able to register with the Department of State starting on February 1, 2023.

The Internal Revenue Service reminded taxpayers today that they must again answer a digital asset question and report all digital asset-related income when filing their federal income tax returns for fiscal year 2022, just as they did for fiscal year 2021. The term "digital assets" has replaced the term "virtual currencies," a term used in previous years

Employers in New York who include confidentiality or non-disparagement clauses in any agreement they enter into with an employee, such as offer letters, employment agreements, restrictive covenant/non-compete agreements, severance agreements, or settlement agreements, must ensure that those clauses comply with both the new federal “Speak Out Act” and existing New York State law.

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 answers in taxes, it depends.

1031 Exchange Identification Rules: Although a taxpayer can identify more than one replacement property, they must adhere to one of the three rules of identification .

ESTATE PLANNING UPDATE WINTER 2022/2023 – LEGAL AND TAX ISSUES OF UNMARRIED COHABITING COUPLES: