Will States Conform to the New Tax Rules?
Many state legislatures are now in session. One of the major issues that state lawmakers face this year is whether to conform their state income tax systems to the many changes included in the Tax Cuts and Jobs Act (TCJA). Some states are giving consideration to, or...
Expert’s Exclusion Dooms ‘Frozen Market’ Theory and Loss of Value Claims
TiVo Research & Analytics, Inc. v. TNS Media Research LLC A damages case involving significant amounts of money began to unravel when the trial court excluded the plaintiff’s expert, saying the damages opinion failed the causation requirement. The plaintiff’s...
Small Business Tax Strategy: Heavy Vehicle Plus a Home Office
Small business owners are often looking for additional ways to lower their taxes. One simple and effective tax planning technique that is available thanks to the Tax Cuts and Jobs Act (TCJA) is to purchase a “heavy” vehicle, work from a qualifying home office, and...
Safeguard Your Company from Defective Product Suits
Does your Maine business deal with products instead of services? You need to make sure to factor in the potential liability for defective product claims. From state to state, laws regarding defective products vary, but in general, a product is considered defective if...
Judicial Appraisal Lacks Valuation Evidence and Gets Dinged on Appeal
Lally Orange Buick Pontiac GMC, Inc. v. Sandhu Although both sides in a Florida judicial appraisal action offered expert opinions on the value of a car dealership, the trial court used a valuation whose author and methodology were unknown. In rejecting the lower...
Sales Tax: Supreme Court Ruling Affects Retailers and Consumers
A new U.S. Supreme Court ruling paves the way for states such as Maine to require Internet sellers to collect sales tax from consumers — even when they don't have a physical presence in the state. (South Dakota v. Wayfair, No. 17-494, June 21, 2018) With this...
New Tax Benefits of Hiring Your Kid
Summer jobs remain an effective way for kids to learn about fiscal responsibility, save for college or even retirement, and supplement their spending money for the next school year. If you’re a Maine business owner, think about hiring your child or grandchild as a...
What’s the Status of Gender-Based Pay Discrimination?
The widespread belief that pay discrimination is rampant in Maine and across the country, regardless of the underlying facts, is what puts many employers at risk for litigation based on charged of unequal compensation. A recent Pew Research poll found 77% of women...
Be Careful When Setting Up an ‘English-Only’ Policy
When your company’s staff is culturally diverse, it can be tempting to require all employees to only speak English during the workday. You may be thinking it’s easier to promote unity and teamwork when everyone speaks the same language. It may not be legal though....
Does Your Business Need a Temporary CFO?
Does your Maine company need a chief financial officer but you can't afford to hire one full time? Or do you need someone to help prepare your business to be sold, handle a special project, or cover for an executive who is ill or left the organization? A temporary, or...