By John Katovich In a recent New York Times article, The Tyranny of Billable Hours, the veil is lifted on a law firm practice that, even when viewed in the best possible light, exposes the dark side of many law firms’ motives. In my 15 years as a General Counsel at the Pacific Stock Exchange, Boston [...]
By Daniel Roberts So, say you own a startup company that’s trying to raise seed funding to create the next great software platform for social change, such as Kiva or Echoing Green. You’ve exhausted all your personal finances, maxed out your credit cards. You’ve already taken on some investment capital from family and friends—now it’s [...]
By Christina Oatfield PART TWO If you have tax-exempt and non-exempt legal entities working very closely with one another, using similar names and/or sharing marketing materials, you must be very careful in your communications about these entities and their activities. The key concern of the IRS and state agencies that regulate nonprofit charities is that in [...]
By Daniel Roberts PART ONE Our client approached us with a problem: what to do when a company has sold securities through a Regulation D private placement, but violated the requirements of the exemption? When seeking investment capital to scale a business, simple administrative errors can sometimes result in dire—or at least expensive—consequences for the [...]
By Christina Oatfield PART ONE Many of our clients are surprised to learn about the intricacies of the laws governing nonprofit tax-exempt organizations. Certain activities that seem to provide a valuable public good according to everyday common sense are not always eligible for tax-exempt status under Internal Revenue Code 501(c)(3). We at K2 find ourselves [...]
By Laura Weitzman, Esq. In 2012, the California Supreme Court shed light on the nature of the employer’s duty to provide meal breaks in Brinker Restaurant Corp. v. Superior Court (Brinker), 53 Cal. 4th 1004 (2012). California law requires that employers provide nonexempt employees with a 30-minute meal break for each work period of more than five [...]
By Laura Weitzman, Esq. In this tough economy, employers may be tempted to hire workers as “independent contractors” instead of “employees” in order to avoid payroll taxes, requirements under wage and hour laws such as minimum wage, overtime, meal periods and rest breaks, and reimbursement for their workers’ business expenses. Additionally, employers are not required [...]
By Nathan Hyun, Esq. Senate Bill 392 (SB 392) changed the law in California – limited liability companies (LLCs) can now be licensed contractors! The California Contractors State License Board (CSLB) issued the first state contractor license to a limited liability company (LLC) on January 19, 2012. What You Need to Know The CSLB is [...]
Assembly Bill No. 571, was signed by California governor Jerry Brown on September 1, 2011. Under prior law, if a corporation had no retained earnings, it could only pay dividends (or redeem stock) under very limited circumstances (satisfaction of a balance sheet test and liquidity requirements). Directors could be held personally liable for distributions made [...]
Are you worried that you have been incorrectly classifying your workers as independent contractors but don’t know what to do about it? The Internal Revenue Service today launched a new program that will enable many employers to resolve past worker classification issues and achieve certainty under the tax law at a low cost by voluntarily [...]
- Do You Know Where Your Legal Fees Sleep? April 22, 2013
- PART TWO: Section 4(2), Unregistered Public Offerings, and Offering Rescission April 8, 2013
- Tips for hybrids about websites and other forms of communication February 28, 2013
- Mistakes in Private Placements: Navigating the Quagmire January 24, 2013
- Navigating the world of hybrids and collaborations between for-profits and nonprofits January 9, 2013
- How did Awaken Café raise start up funds from its community? November 12, 2009
- Are cooperative patronage dividends subject to employment tax? June 30, 2009
- Securities Law Exemptions – First in a Series December 28, 2009
- High level employees of nonprofit organizations that receive non-monetary compensation could be subject to sanctions! June 18, 2009
- IRS Grants Relief to Certain Small Organizations that Lost Exempt Status June 14, 2011
- Siva Devireddy: Great article. I am indeed very surprised by t...
- gold price: WASHINGTON — The Internal Revenue Service today ...
- carter: Much clearer than my capital markets textbook. I'...
- Alex Moore: Great synopsis Jenny. Thank you....
- Jenny Kassan: I don't know how much Awaken raised. They market...