Monthly Archives: July 2006
New Developments for S Corporations
This past summer Congress passed and President Clinton signed the Small Business Job Protection Act. The Act contains a number of changes to the rules relating to Subchapter S corporations. Many of the changes permit increased utilization of S corporations and broaden the flexibility in… Continue reading
Anatomy of a Simple Contract
If you have ever asked your lawyer to prepare a contract, you probably had occasion to think about the basic elements that comprise a formal agreement. Knowing the essential elements of a contract can save you time and money when it comes around to drafting,… Continue reading
Real Estate Sellers Beware!
Anyone selling a residence on or after August 31, 1996, in Pennsylvania must be aware of the new Real Estate Seller Disclosure Act. The Act requires a seller to disclose problems which may exist regarding, among others, the roof, basement (wetness), termites, structural elements, on-site… Continue reading
What is the Health Insurance Portability and Accountability Act of 1996?
The Health Insurance Portability and Accountability Act of 1996 (“HIPAA”), which is effective for plan years beginning on or after July 1, 1997, was designed to enhance the portability of health insurance coverage by permitting individuals who lose health coverage to obtain coverage under a… Continue reading
What is Jurisdiction?
We have all heard the legal term “jurisdiction” at one time or another, but what does it mean? When you hear the word jurisdiction used with reference to a court proceeding, think of power. Courts have various types of jurisdiction, and all relate to the… Continue reading
Wage Payment and Collection Law
Many people are not aware of the Pennsylvania Wage Payment and Collection Law (“WPCL”). The Law provides powerful remedies for those who have not been paid wages otherwise due. Wages include all earnings of an employee regardless of whether determined on a time, task, piece,… Continue reading
THE FAMILY AND MEDICAL LEAVE ACT
In August 1993, President Clinton signed the Family and Medical Leave Act (“FMLA”). Rules interpreting the FMLA were published by the Department of Labor since that date. Generally, employers with 50 or more employees during 20 or more calendar workweeks in the current or preceding… Continue reading
The “Durable” Power of Attorney
When we hear “durable”, we think of diamonds (they’re forever), granite (“rock-of-ages”), and maybe even your ’57 Ford pick-up with 335,000 miles on the odometer. But a power of attorney? Historically, a power of attorney has been one of the more ephemeral of legal documents… Continue reading
Federal Minimum Wage Raised
President Clinton signed the Small Business Job Protection Act on August 20, 1996. Among other things, this bill raised the federal minimum wage from $4.25 to $4.75 per hour effective October 1, 1996 and to $5.15 per hour effective September 1, 1997.The bill also created… Continue reading
How Long Must You Keep Financial Records?
Now that you’ve gotten your tax returns filed and are looking at your bulging folder of receipts, notes and records, it is logical to wonder, “How long should I keep all this paper and all the paper from previous years?” Tax Returns. With regard to… Continue reading