A tax deferred exchange or “like kind” exchange is a method of disposing of and reinvesting funds from investment or business-use assets while deferring capital gains and recapture taxes. To successfully complete a like kind exchange, timing is extremely important and the assistance of experienced counsel is highly recommended.
The like kind exchange benefits are created by Internal Revenue Code Section 1031. So the process is often called a “1031 Exchange”. Before discussing the basics of the transaction, it is important to understand the nomenclature. The “Exchanger” is the person or entity that is selling and buying like kind property. The property being sold is called the “Relinquished Property” and the property being purchased is the “Replacement Property”. Continue reading →
Making the decision on how to compensate employees is a critical step for every business. Often, this decision can be extremely complicated due to various factors unique to the employee or to the business. Having experienced legal counsel to guide your business through the decision making process is essential to making sure you get it right.
The Fair Labor Standards Act (“FLSA”) prescribes basic minimum wage and overtime pay for employees. Assuming that an employer is subject to the FLSA or similar state law, every employee is covered under the FLSA unless they are otherwise deemed exempt. These exemptions are where most employers make mistakes in compensating their employees. Continue reading →
Our Medical Office Accidentally Provided a Patient List to Other Patients and the Public. What Should We Do?
When there is an unintentional disclosure of protected health information by a medical or dental practice, very specific and important steps must be followed under HIPAA and HITECH. Having experienced attorneys that have handled privacy breaches by medical and dental practices is imperative to complying with the law. Continue reading →