February - 2020

Wage Garnishment Issues Facing Businesses

Wage Garnishment Issues Facing Businesses

More than 10 percent of employees between the ages of 35 and 44 had their wages garnished last year, according to a new study by payroll company ADP. That’s a staggering figure, and it creates a serious problem for employers, who are subject to complex state and federal laws about garnishment and can be sued if they do something wrong. For years, wage garnishment was generally limited to people who fell behind on child support payments or owed money to the IRS. But that’s cha

Treating LinkedIn Contacts as Trade Secrets

Treating LinkedIn Contacts as Trade Secrets

If salespeople connect with their business contacts on LinkedIn or another social media site, can they take that information with them when they leave the company? Maybe not, according to a federal court in California. David Oakes worked for six years as a salesman for a cell phone accessories company. He had signed an agreement saying that he wouldn’t disclose any proprietary information, including the company’s customer base. When the company terminated him, he started a co

Competing Against Retail Competitors

Competing Against Retail Competitors

Most stores that lease space in a mall or other commercial area would like a guarantee that the landlord won’t also rent to a competing business. This guarantee is known as “exclusive use,” and you can negotiate for it in a lease. If you’re negotiating a right to exclusive use, here are some things to consider: What’s the use? You’ll want to specifically define your “use,” and what kinds of other businesses are allowed. For instance, if you have an ice-cream-cone shop and you

Unexpected Results from Buyout Provisions

Unexpected Results from Buyout Provisions

Many businesses have a buyout agreement that says that if one owner retires or resigns, the others can buy out his or her interest at a certain price. These agreements are a smart idea for retaining control of a company. But you should keep in mind that they can sometimes be used in ways you wouldn’t expect. For instance, Irvin Gordon was a member of a professional firm in New Hampshire. His agreement said that if he died or resigned, the other owners would buy out his intere

New Tax Rules for Gifting

New Tax Rules for Gifting

If you provide bonuses, awards, gifts or prizes to employees or customers, it’s important to understand the tax consequences. It’s particularly important if the recipient is going to have to pay a tax – you’ll want them to understand this fact from the start, so they don’t get an unpleasant surprise later. In general, any gifts made by a company to an employee are considered wages. They’re subject to both employment tax and income tax, and must be reported on an employee’s W-

Commercial Leasing Tips

Commercial Leasing Tips

Companies that are leasing their own space for the first time are often surprised by the terms of a commercial lease – and even companies that have leased space before sometimes overlook important points where they might be able to negotiate matters to their advantage. Here’s a quick guide to what to look for: Letter of intent. This sets out the basic terms of the agreement so everyone is on the same page before a formal lease is drafted. Be careful – the document should say

Your Company's Cell Phone Policy Needs to be Updated

Your Company's Cell Phone Policy Needs to be Updated

About 85% of American companies have a written policy that limits workers' use of cell phones while driving. The goal is to improve employee safety, while also preventing lawsuits from people who are injured by distracted employees. That's great - but many of these policies were adopted several years ago, and need to be reviewed now because the legal landscape has changed. Here are some of the problems with many older policies: They are not inclusive enough. Many older polici

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