Understanding the Due Diligence Process in a Business Transaction

Transactions are fundamental to the business world. Practically everyone has wandered into a store or gone onto their favorite website or app and exchanged money for goods and services. Some transactions, however, require more research than simple confirmation that your peers like the same brand of coffee or loved the same book. When you’re in the process of acquiring a company, merging your business with an Read More

How to Protect Your Construction Company from Legal Disputes

In the construction business, even the best-planned projects can experience roadblocks and downturns that eventually translate into an expensive lawsuit. Schedule delays, budget overruns, defective materials claims, and incompatible expectations all have the potential to create a situation that ends up in court. While there is no way to guarantee that your construction company won’t ever be sued, you can minimize Read More

What is the Difference Between Surety and Fiduciary Bonds?

Although oversight agencies and regulations are in place to help business transactions go as smoothly as possible, disruptive issues such as fraud and breach of contract do still occur. For smaller companies, these negative events represent immense financial loss and can even close the business down permanently. One way to reduce such risk is use of surety or fiduciary bonds, which serve as an insurance policy and Read More

Is it Time to Sell? 4 Questions You Should Ask Yourself Before Selling Your Business

Although it seems like only yesterday, it’s been years—decades, even—since you turned your business from a promising idea into a quantifiable success. You’ve got a winning product, loyal customers, and strong employees who have been with you for years. Now, you’re ready to pass the torch to someone else and either retire or apply your talents to something different. In other words, you’re looking to sell. You may Read More

Passing on the Mantle: 6 Tips to Ensure Solid Business Succession Planning

Most business owners devote their attention to immediate and pressing issues like good cash flow and a balance sheet that’s perpetually in the black. Retirement is like a distant mirage, and besides, the thought of handing the reins over to someone else can be both anxiety-inducing and daunting. How could anyone possibly take your place? How could anyone ever know how to do everything that you do? If this sounds Read More

Overtime Rules: What Your Employer Can and Cannot Do

If you’re thinking about doing a little extra work outside of your normal 40-hour per week schedule—working overtime—it’s important to know your rights to overtime pay as well as what your employer’s rights.   New York’s overtime rules add to and mirror employment laws at the federal level enshrined in the Fair Labor Standards Act (FLSA). Generally, employees who work over the 40-hour a week schedule are entitled Read More

4 Common Mistakes Condo Investors Should Avoid

When you venture into the condo-investing market, your goal is to make a profit. Although real estate is generally regarded as riskier than stocks or bonds, the opportunity for an excellent return on your investment makes it worth the gamble for many people. The old adage “An ounce of prevention is worth a pound of cure” is especially appropriate for condo investors, whether you are buying your first property or Read More

Embroiled in a Business Dispute? These 4 Signs May Indicate You’re Headed for Litigation

Running a business can be as risky as it is rewarding. With so many other parties involved in its daily activities, it’s only a matter of time before you become embroiled in a dispute with a partner, employee, customer, or vendor. While many of these disagreements can be resolved via negotiation or mediation, others end up being litigated. Over 100 million lawsuits are filed in state courts across the U.S. every Read More

4 Common Payroll Mistakes Every Small Business Must Avoid

When your business grows enough to sustain a small workforce, you have cause to celebrate. You took a great idea or promising concept, made it resonate with consumers, and now you’re doing well enough to hire employees. Congratulations! To help you remain firmly on the path to success and profitability, we have listed the four most common mistakes that small business owners make with payroll, and show you how to Read More

Understanding the 421-a Tax Abatement Program

The 421-a Tax Abatement Program, which was resurrected last April after nearly a year of stasis, reduces the property taxes on land that is developed for residential use. For several years the owner of a qualifying property pays taxes only on the property’s original value as opposed to the higher value it attains after homes, apartments, or condos are built on the site. At the end of the designated time period, there Read More