Title Description Date Added
INDEPENDENT CONTRACTOR vs. EMPLOYEES LABELS AREN’T EVERYTHING – HOW TO SUCCESSFULLY DISTINGUISH YOUR INDEPENDENT CONTRACTOR FROM YOUR EMPLOYEES Businesses frequently seek to reduce overhead by reclassifying their “employees” as “independent contractors” or “consultants” with the intent of saving on taxes and other employee expenses. Unfortunately, saying it does not make it so. MORE>> September 30, 2014
Estate Planning Seminar held in Great Neck, NY Robert Bichoupan, Esq. provided a service to the Great Neck community when he presented an Estate Planning seminar at Ahavat Shalom in Great Neck on August 20, 2014. The links attached ("Estate Planning", "Simplified Glossary of Terms", "Living Trusts", "NYS Estate and Gift Tax Laws", and "Historical Federal Estate Tax Exemptions and Rates")were handouts provided to the audience at that seminar. MORE>> September 04, 2014
“S” Corporation versus LLC * “S” Corporation versus LLC: How are they different and how are they the same? Why is an LLC a better vehicle in which to hold title to real property and why do more people choose “S” Corporations to form operating entities? MORE>> May 08, 2014
NYC Paid Sick Leave Law * Under New York City’s Earned Sick Time Act (Paid Sick Leave Law), certain employers with 5 or more employees must give their employees paid sick leave, which they can use for the care and treatment of themselves or a family member. A copy of the Notice of Employee Rights is attached. MORE>> April 09, 2014
Estate planning for young adults Now that your child is 18… An 18 year old, while still a child in your household in your eye, is actually a legal adult under the law. That means that the law recognizes their right to privacy and to govern their own affairs. What does this mean for you as a parent sending your child off to college (or anywhere else for that matter)? Access to your child’s medical records, financial accounts or even their college grades can be barred without your child’s consent. MORE>> January 13, 2014
Basic Star Exemption Re-registration Deadline * New legislation regarding Basic STAR exemption has gone into effect. You will now lose the benefit of your basic STAR exemption unless you re-register with the New York State Department of Taxation and Finance this year by December 31, 2013. The attached will help guide you. Please call our office or email if you would like us to assist. If you wish us to file the application for you, we need your response by email by December 1, 2013. We will also need a copy of your deed and payment of our administrative expenses in advance, and cannot guarantee we will file for you if such information or administrative fees are received after December 13. If desired, we will also review eligibility for Senior and Enhanced STAR exemptions which may entitle you to greater property tax savings but will need to hear from you by December 1 to explore eligibility for those programs. Please note that this clerical service is offered only to our close contacts and clients, is not intended to be a legal service, nor tax or any other kind of advice. No guarantees can or will be made. MORE>> October 10, 2013
Your Loved One Has Passed. Now What? Your loved one has passed and their assets need to be handled. Now what? MORE>> August 25, 2013
Estate planning vs. convenience banking Estate planning versus convenience banking: Does setting up a joint bank account with your elderly parent confer an ownership interest in that account to you, or is it merely a “convenience” account in which you have no ownership interest upon your parent’s passing? MORE>> May 17, 2013
Liability of Landlord The Appellate Division, Second Department, has upheld the common law rule that that a landlord is generally not liable to a tenant for dangerous conditions on leased premises unless a duty to repair the premises is imposed by statute, regulation, or by contract. In the case of Alnashmi v. Certified Analytical Group Inc., the court held that, because the lease at issue placed responsibility for maintenance and repair squarely on the tenant, and because the tenant endeavored to perform maintenance and repair, the landlord’s majority share holder owed no duty to a technician, whose slip and fall complaint was entirely grounded on the common law rule. MORE>> September 23, 2011
Court finds individuals liable under corporate lease In an August 2011 New York County landlord/tenant action, 498 Seventh Ave. LLC v. Easy Street, Inc., it was held that, where a corporation is dissolved by proclamation, and leases are then signed by individuals purportedly in their representative capacities as officers of said corporation, those individuals were to be held personally responsible to the landlord for the obligations incurred under said leases. The Court reasoned that since the individuals purported to act on behalf of a corporation that did not have either a de jure nor a de facto existence, they were to be held personally liable for the obligations incurred under those leases. The Court granted summary judgment to the landlord. September 01, 2011
Property Tax Cap Enacted New NYS legislation establishes a limit on property tax increases at 2% per year, or the rate of inflation, whichever is lower. School districts will only be permitted to exceed the cap if 60% of voters in that district vote in favor of such a measure. This new property tax cap is to take effect for the 2012 fiscal year and sunset in 2016. Many hope that this new law will reduce the burden on Long Island homeowners, who pay one of the highest property tax rates in the nation. June 29, 2011
New Obama Administration Estate,
Capital Gains and Gifting Rules
With a little forethought and estate planning, the new tax laws signed by President Obama in late December, 2010 may be used to your family's financial benefit. Here is some of what you need to think about in order to take advantage of these new laws: MORE>> April 04, 2011
Obama Tax Relief Act - Thursday, December 17, 2010 New federal estate tax laws for 2011 and 2012 extend the Bush tax cuts, and then some. Among other things, these new laws increase the exemption amounts to Five Million ($5,000,000.00) Dollars per testator, indexed for inflation, set the estate tax rate at 35% for amounts over the exemption amount, continue the step-up in basis upon death rules, and increase the gift tax exemption from One Million ($1,000,000.00) to Five Million ($5,000,000.00) Dollars. MORE>> February 04, 2011
Matrimonial Appeal Victory We are proud of our recent victory in an appeal brought before the Appellate Division. In this matrimonial action, the lower court found that the appellant wife had wastefully dissipated over $200,000.00 in marital funds, which she conceded having spent paying maintenance expenses of the marital residence during the years between the commencement of the marital action and the trial. The lower court directed that she reimburse her former MORE>> July 21, 2010

* These forms are not intended for execution, but rather are merely informational.

Prior results do not guarantee a similar outcome. All information posted is general advice only, based upon the rules of NYS, and is not intended to be a substitute for personal legal advice. Although information provided here was accurate as of the date of posting, laws change frequently and rules in other jurisdictions may differ. Therefore, readers should not rely upon these postings but should consult an attorney to discuss their specific factual situation.

175 East Shore Road, Suite 270,  Great Neck, NY 11023  Phone: (516) 482-1186