New York State has over $13 billion in lost money. Lost money is private money that has been unclaimed. Banks, insurance companies, corporations and the courts are among the many organizations required by law to report dormant accounts to the State Comptroller.
Slow business cycles provide a unique opportunity for companies to evaluate important and often overlooked aspects of their operation. In short, this “down” time offers business owners and executives a chance to get their affairs in order.
All businesses are required to pay taxes and keep accounting records year by year. You automatically choose your tax year when you file the first tax return for your business. After that, you have to get the IRS permission to change.
For those that own their own businesses, it is likely that the business will need to enter into a commercial lease at some time during the life of the business. It is important to have a good understanding of what the issues are at the heart of any commercial relationship. Here is a partial list of some of the more pressing issues to consider:
Businesses often question how to compensate those that provide the business with services. Clients often wonder if they can treat particular workers as independent contractors rather than employees.
There are essentially four types of entity choices for businesses: sole proprietorship, partnership, limited liability company (LLC), and corporation.
Under the Affordable Care Act, federal government, state government, insurers, employers and individuals are all given roles to improve the availability, quality and affordability of health insurance coverage in the United States.
Many people believe that simply by incorporating a corporation or forming a limited liability company they will be entitled to exclusive use of the name.
One question that often arises in matrimonial proceedings is how do the courts address one spouse’s interest in a family business?
In order to position oneself to reach the highest level of success and benefits available from starting your own business, it is important to begin with a solid foundation.