Fair warning if you are selling your business: The price you and the buyer agree to may not be the price you actually get due to a common and very important term known as the “working capital requirement.” If you’ve never sold a business before, the working capital requirement may come as a big surprise. You are likely to encounter it for the first time in the letter of intent, the first occasion when major terms of the deal are put down in writing.
The rules for deciding who is really an independent contractor and who must be classified as an employee are changing again. If your business issues 1099s, prepare to take another look at your independent contractors (ICs) in the context of the new rules.
On January 1, 2024, the Corporate Transparency Act (CTA) began requiring corporations, limited liability companies and otherentities to file reports with the Financial Crimes Enforcement Network (FinCEN) division of the U.S Treasury Department.
Pay transparency laws have been in the news for a while, and they’re a hotly contested issue. On the one hand, shining a light on wage information helps create fairness in the workplace and acknowledges the essential value of virtually every role, which is the intended purpose of the laws.
The Federal Trade Commission (FTC) recently released a proposed rule which, if adopted, will broadly ban the use of non-compete agreements with workers throughout the U.S.
