While sales rep protection statutes vary state to state, most contain a provision invalidating any contract term that would negate or limit the rights provided or would make the contract subject to the laws of a different state.
Staff ace Aaron Nola was headed to salary arbitration weeks ago until he reached a four-year, $45 million deal with the Philadelphia Phillies. “I don’t play specifically for the money,” he actually said after signing his contract, “I play for the love of the game. I play for my teammates.”
After finishing various levels of schooling, training and employment, and upon reaching a certain age, encountering a heretofore unknown activity provokes surprising interest. When that activity is designated with an equally novel term, the curiosity only heightens.
Question: Is there any way to deduct business entertainment expenses after the most recent tax legislation?
Answer: The Tax Cuts and Jobs Act of 2017 fully eliminated deductions for entertainment expenses incurred by taxpayers, effective for tax years beginning after December 31, 2017.
…An exploitative principal angling to replace its longtime independent rep and withhold the commissions due could find a means to escape the statute’s reach by stopping just short of affecting a full termination.
A sales representative typically will review a sales representative agreement twice — at the start of its relationship with a new principal, and then at the end.
Question: I am contemplating purchasing an interest in a limited liability company as an investment. What tax consequences if any I should be concerned with?
Question: Under the new tax law, can I deduct 20% of my S corporation income?
For reasons I don’t understand, this year’s holiday party has been entrusted to me.
Wait, on second thought, I do understand. I’m in charge of the holiday party by default. No one else wanted to do it. And the party’s decision-making has been rife with conflict.
Question: Can you provide some guidance from a tax perspective to my business partner and I on the best structure for a new business we are starting?
Question: My S corporation, previously a C corporation, has historically received rental income from a real estate property. Now that the company’s operating business has been sold, can the S corporation passive income tax on rental income be avoided?
… When a principal terminates a contract not for any legitimate or neutral reason, but to shed the rep before a sale closes and commissions become due, raising a bad faith claim, which may make additional damages available, should at least be explored.
Question: I am selling the stock of my small, closely-held corporation. What must I do to exclude the gain from taxation?
Frustrations abound in life and law.
The train is either agonizingly delayed, at the expense of my monthly meeting — obsessively gaveled to order on time — or leaves with infuriating promptness when I am held up, forcing me to acknowledge I can no longer cover the five-minute dash to the station in less than seven minutes.
Question: I was granted incentive stock options and non-qualified stock options from my company prior to the time the company went public. Can you explain the tax consequences and whether I am better off buying and holding the stock or doing cashless exercises?
Factors such as long-term and stable relationships with principals and customers, selling products with a promising future in the market, and the firm’s commission income stream on the rise, tend to increase the price.
Question: As a surviving spouse, most of my assets are held in my deceased husband’s bypass trust to which I am entitled to distributions of income and principal. Since I will no longer be subject to estate taxes, is there an advantage to my withdrawing as much money as possible from this trust?
Question: I am one of several members in a limited liability company treated as a partnership for tax purposes which is being sold. If we sell our membership interests to the buyer, can the gain be reported as capital gain?
Legal gambling on pro and college sports outside Nevada hit the jackpot on May 14 when the U.S. Supreme Court struck down the Professional and Amateur Sports Protection Act passed by Congress in 1992.
Question: My father died holding all of his assets in a revocable trust. Must the trust’s tax returns be filed using a calendar year-end?