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What is the Difference Between a 1099 Subcontractor and an Employee?

Many business owners prefer hiring contractors to bringing on employees for one simple reason: cost. With 1099 contractors, employers don’t provide benefits, cover employment taxes, or pay for supplies and overhead. Employers should use caution, however, when they classify workers as independent contractors. The IRS notes that while employers are not required to withhold and […]

Criminal Fraud and Clawback Actions

A bankruptcy trustee’s primary role is to collect and administer assets belonging to the bankruptcy estate and to distribute those funds to creditors on account of their claims. In the context a of criminal fraud scheme that ultimately leads to a chapter 7 liquidation proceeding, the trustee collects a great deal of estate funds through […]

Protecting Pre-Petition Attorney’s Fee Payments

If a client files for bankruptcy, an attorney risks losing not only the amount of legal fees outstanding at the time of bankruptcy, but also fees paid up to one year prior to the bankruptcy filing. There are three main ways in which the fees an attorney received for representing a debtor pre bankruptcy may […]

The Automatic Stay for Criminal Defendants

Criminal defendants are often faced with a multitude of legal problems, besides the obvious ones, there can be civil litigation and creditor claims. While the discharge of most debts is the primary bankruptcy benefit, arguably the most useful protection under the Bankruptcy Code is the automatic stay. This broad power is essentially an injunction that […]

How to Dissolve a Company

Businesses close down for many reasons, including financial difficulties, the retirement of an owner, and disagreements among partners. If you are considering dissolving your business, you should understand the steps involved and the process for liquidating assets. Steps for Closing a Business The organizational documents for your company, depending on the business structure, may play […]

What is a Mechanics’ Lien

For subcontractors and suppliers, mechanic’s liens serve as a way to ensure payment when a general contractor fails to meet its financial obligations. Liens represent a legal claim against a property where a subcontractor, builder, construction company, landscaper or supplier has completed work. For example, if a craftsman builds custom cabinets for a kitchen remodeling […]

How To Form a Business Corporation

A business corporation may be formed in the State of New York by filing a Certificate of Incorporation pursuant to Section 402 of the Business Corporation Law (“B.C.L.”). Steps to Form a Business Corporation Some of the steps you need to follow to form a business corporation in the State of New York include: Selecting […]