Same-Sex Marriage: Survey on Policies
September 29, 2008
The start of same-sex marriages in California on June 16 made headlines across the country. However, it was not such a big deal for many U.S. companies. These businesses already give their gay and lesbian employees many of the same benefits that they provide to their married straight workers.
Unreasonable Compensation to PC Shareholders: The IRS Gains a Victory
September 26, 2008
The general view has been that unreasonable compensation claims against shareholder employees of professional corporations was not an issue. In <i>Pediatric Surgical Associates P.C. v. Commissioner</i>, the Tax Court determined that compensation paid to the shareholder physicians was unreasonably high because it exceeded the value of the services performed. Many law firm professional corporations could face this same issue.
Section 79 Planning Opportunities
September 26, 2008
Closely held businesses produce over 50% of the Gross National Product ("GNP"). Less than 50% of these businesses have a continuation plan and almost one-third of these companies (29%) use a buy-sell arrangement to assist in their planning. Buy-Sell agreements are very simple tools that over the years have grown to meet increasing needs of closely held businesses.
The KPMG Tax Shelter Case and the Right Against Self-Incrimination
September 24, 2008
In a much anticipated opinion, the Second Circuit has affirmed the dismissal of an indictment against 13 former partners and employees of the accounting firm KPMG, who were charged with creating fraudulent tax shelters. <i>United States v. Stein.</i> This article discusses the case in depth.
Can MySpace Suits Can the Spam?
August 28, 2008
Social-networking sites such as MySpace and Facebook are dropping the legal hammer on spammers. The question is: Can they really nail the elusive disturbers of Internet peace?
Establishing Best Practices
August 28, 2008
When it comes to work product production, internal and external communication, or workplace safety, the question becomes: "Is there adequate input when these policies are developed, and who are the enforcers?" As important, is the question, "Do established best practices hamper client relations or staff professional development?"
Becoming a Law Firm Partner
August 28, 2008
Interviews with senior associates and individuals in their first or second year of partnership (particularly equity partnership) reveal that they frequently face a number of surprises ' even shocks ' when they enter their new, long-desired status. Here's what to do about it.
What Your Firm Can Learn from Toyota
August 28, 2008
Six Sigma is a disciplined methodology for eliminating defects in any process ' from manufacturing to transactional law. Following this efficiency matrix, LEAN Processing, as developed by Toyota, is without question the most important approach to business process of our times.
