Do You Have Shareholder Questions? Limitation of liability is not absolute Controlling Shareholder labile 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…
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 actual 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…
The holiday season is a time of joy, celebration, and connection with family and friends. Yet, for many, it also brings the stress of managing finances while striving to find perfect gifts for loved ones. If you’re feeling overwhelmed by financial pressures this season, it’s important to know that you’re not alone—and there are compassionate…
Estate Tax Valuation: Business Freeze The value is the fair market value. This is construed to mean the price at which the property would change hands in an arm’s length transaction between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of…
The debtor must appear and submit to oral examination, under oath, at a meeting of creditors convened (called, brought together and conducted) under section 341 of the Bankruptcy Code. The meeting is convened (called and brought together and conducted) by a trustee appointed by the Office of the United States Trustee, a division of the…
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