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Category: Business Law

Filing for Bankruptcy

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Filing for Bankruptcy is not right for everyone.  It provides relief from debt. If you struggle every day with mounting debt, find out if bankruptcy can provide you with the relief you deserve. Start with a knowledgeable lawyer on your side. This lawyer  can help you decide if bankruptcy is right for you. First you […]

Operating as a Sole Proprietor

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Operating as a Sole Proprietor you own your business assets and personally operate your business. You are treated as one with the business for tax purposes. A sole proprietor is personally liable for the contracts and activities of the business. Your personal and your business assets are exposed to all personal and business liabilities. If […]

Phantom Stock: benefiting a hard working employee

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Phantom Stock: benefiting a hard working employee • Many small business owners wish to provide an incentive to a particularly hard working employee or several employees but prefer to keep actuall ownership of their business in the family. Formal employee stock option plans or 401(k) plans may be too expensive and involve complex rules. Phantom […]

Shareholder may be liable for wages of corporate employee

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limitation of liability is not absolute Controling Shareholder liabile for employee wages A sole or controlling stockholder may be held liable for the wages of employees, even though the corporation is the actual employer, due to the Pennsylvania Wage Payment and Collection Law. 43 P.S. §§ 260.2a, 260.9a(b Best practices suggest that a close working […]

Statutory limitation of liability is not absolute

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Statutory limitation of liability is not absolute The limitation of liability of business owners and professional practitioners created by statute for corporations, limited liability companies, professional partnerships, and limited partnerships, differs from state to state and can be pierced under a variety of circumstances. The choice of a state usually constitutes a choice of the […]