Trustee Claims Bank Court Flouted Valuation Rules
Alberts v. HCA, Inc., 2013 U.S. Dist. LEXIS 96646 (July 11, 2013) In his appeal, a trustee “strenuously” contested the Bankruptcy Court’s decision to consider a $20.6 million capital transfer as a surplus rather than a necessary asset for operations when the court...
A Legally Binding Contract
The success of your Maine-based small business depends to a great extent on the quality of the contracts you sign. A good contract protects everyone, and a bad contract could ruin you. Every time you promise to exchange services or property, you create a...
Consider Flexible Spending Accounts at Your Company
If your Maine-based small business doesn't provide health insurance, or if you do provide coverage but your employees are faced with increasing deductibles, co-pays or out-of-pocket expenses, it’s the perfect time to take a look at flexible spending accounts (FSAs). A...
Eight Legal Risks Facing Businesses
Operating in today's business world can sometimes seem like you're navigating a legal minefield. You must be aware of, and comply with, numerous laws and regulations. A misstep can result in expensive and time-consuming legal challenges. Filler & Associates have...
Fall Back on Bad Debt Deductions
If your Maine-based small business has customers that don't pay their bills, there could be a last resort: You can deduct a bad business debt in the year it becomes worthless, as long as you've tried everything to collect. In order to get the write-off, you have to...
Reliable or obsolete? DE Chancery Scrutinizes Precrisis Projections
Towerview LLC v. Cox Radio, Inc., 2013 Del. Ch. LEXIS 139 (June 28, 2013) Five years after the 2008 economic meltdown, observers look back with a good deal of hindsight. But when the Delaware Court of Chancery recently assessed the reliability of prerecession...
Shave Payroll Costs for Shared Employees
If you run your Maine-based business operations through two or more corporations, the different entities may share some of the same employees. If so, you may be able to save payroll taxes by using a common paymaster. This means that instead of having each business pay...
When Nonqualified Stock Options Have a Leg Up
Incentive stock options offer tax advantages to employees, but they come with a tax price for your Maine-based company. The plan must meet numerous strict requirements spelled out in the law, and the company gets no deduction at any time. To receive preferential...
Profit from an Energy Audit
Business owners routinely evaluate opportunities to reduce expenses. However, many organizations are unaware of the savings that can result from a business energy audit. Many of the savings from an energy audit are sustainable, and usually they are well received by...
Hard Asset Value Best Captures Worth of Family Business
Starling v. Starling, 2013 Va. App. LEXIS 248 (Sept. 10, 2013) (slip op.) Because the trial court found neither spouse’s expert offered a convincing valuation for a family business, it opted to adopt the liquidation value the company’s CPA proposed. On appeal, the...