A Merger and an Acquisition: Which Is Which?

Entrepreneurs and corporate officers, alike, frequently use the terms “merger” and “acquisition.” To the general public, these words are simply those that are seen on headlines of national business newspapers and articles. Many may wonder about the true definitions of these words and which businesses are undergoing a merger and which businesses are undergoing an acquisition.  Continue reading “A Merger and an Acquisition: Which Is Which?”

Applying for Sales Tax Exemption as a Not-for-profit Organization in New York

Many religious and charitable organizations across the state of New York are able to apply for a special, sales tax exempt status. Sales tax exempt status allow purchasers within the organizations to make tax-free purchases that would otherwise be subject to New York State sales tax. In order to utilize this unique feature, one must obtain a sales tax exemption certificate issued by the New York State Tax Department and present the said certificate at the time of purchase. Continue reading “Applying for Sales Tax Exemption as a Not-for-profit Organization in New York”

An Attorney’s Role in Real Estate Transactions

While engaging in the process of buying a home or a piece of property, many may overlook the importance of using an attorney. A real estate attorney plays an important role in the drafting of any documents relating to the sale and transfer of ownership of the home or property. One of the most pertinent documents that a real estate attorney will draft in this situation is the contract of sale, also known as the purchasing agreement. This document outlines the following: Continue reading “An Attorney’s Role in Real Estate Transactions”

Understanding New York’s Religious Corporations Law

Religious freedom is a major foundational right of every person in the United States. It is inherently a complex issue which has spawned heated court cases over the years. While almost all agree that religious freedom must be safeguarded, there is much debate as to what exactly constitutes religious freedom. We will address additional aspects of religious freedom through our blogs and newsletters. Continue reading “Understanding New York’s Religious Corporations Law”

What is a Limited Liability Company (LLC)?

As the owner of a business, it is important to ensure that all incorporating documents and legal requirements are in order. One way to structure a business is to create a Limited Liability Company (LLC), as it is considered to be the least complex way to form a business and more flexible than other types of corporations. By definition, an LLC prevents the members of the company from being held personally liable for the debts and liabilities of the company. Essentially, this means that the personal assets of the company’s owners are kept separate from the assets of the company and the company’s owners do not have to pay the debts or liabilities of the company from their personal bank accounts.
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How DIY Documents Can Lead to an Estate Planning Mishap

With the ever-increasing use of technology, do-it-yourself (DIY) online services are becoming more common. Many people use DIY services to file their taxes, pay their bills, and apply for car insurance. Individuals choose to use DIY services because they believe it is a cheaper means to accomplish what they want to get done. However, when it comes to estate planning, the cheaper option isn’t always the best. Continue reading “How DIY Documents Can Lead to an Estate Planning Mishap”

Family Law Considerations When One Parent is a Non-Citizen

For centuries, people have looked to New York as a place of hope and opportunity for immigrants. Today, New York State still boasts a large population of both legal and undocumented immigrants. In 2014, 775,000 undocumented immigrants made up 17 percent of the immigrant population and 3.9 percent of the total population in New York, according to the American Immigration Council. With such a large population of non-citizens in New York, it is imperative that non-citizen parents, as well as U.S. citizen partners, understand their rights in family court. Continue reading “Family Law Considerations When One Parent is a Non-Citizen”