Pannone Lopes Devereaux & O’Gara
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Five 2018 Year-End Tax Planning Opportunities for Businesses
As the year concludes, the focus for many business owners turns to tax planning given the numerous changes in the tax law under the Tax Cuts and Jobs Act of 2017 (TCJA). Here are five year-end tax planning considerations for business owners: 1. The allowable deduction for businesses under Internal Revenue Code Section 179 for the full purchase...
Time to Think About that Family Business Succession Plan
The most recent PricewaterhouseCoopers U.S. Family Business Survey (2017) concludes that succession planning is a “perennial problem” for family businesses. Nearly one-third of family businesses have no succession plan at all, and just 23% have a formal documented plan in place. One reason why so many family business owners do not engage in...
Rhode Island’s Industrial Hemp Program Commences This Month
Rhode Island has set its date to officially enter our nation’s burgeoning and highly profitable industrial hemp marketplace. On October 9, 2018, the Rhode Island Department of Business Regulation (DBR) will begin accepting license applications from aspiring growers and handlers (license holders who process industrial help commodities). DBR is the...
Why Wealth Migration to Florida is Expected to Continue
Wealthy individuals have been flocking to Florida for years. According to the website howmoneywalks.com, from 1992 to 2016, the IRS Division of Statistics, U.S. Census Bureau reported Florida gained $27 billion in taxable income from New York, $18 billion from New Jersey, $13 billion from Illinois and $11 billion from Connecticut and...
New Massachusetts Law Limiting Employee Non-Compete Agreements
After numerous failed attempts, the Massachusetts legislature has finally passed a new law limiting noncompete agreements between a company and its employees and independent contractors. The legislation was signed into law by Massachusetts Governor Charlie Banker on August 10, 2018. It becomes effective on October 1, 2018. In many respects, the...
Public Hearing Set for Tomorrow on Proposed Hemp Regulations by RI Department of Business Regulations
The RI Department of Business Regulations (DBR) will hold a public hearing tomorrow (August 16, 2016) at 10 a.m. on its proposed regulations for the state’s Industrial Hemp Agricultural Pilot Program (Hemp Regulations). The hearing will be held at the Department of Labor and Training, Building 70, Conference Room 70-1, 1511 Pontiac Avenue in...
Landmark Decision – Police Must Have a Warrant for Cell Phone Location Data
Is your cell phone nearby? Are you reading this article on it right now? It’s probably no surprise to you that Americans are with their cell phones constantly. And, you may already know that your cell phone is constantly scanning for the best signal. What you may not know is that in the process, your cell phone connects to cell sites and...
No More Agency Fees for Public Employees
For over forty years, public-sector unions could impose what were known as “agency fees” on non-members. The logic was that a union serving as the exclusive representative of a unit of employees is required to represent the interests of all employees, union member or not. So the imposition of agency fees made a certain kind of sense: non-members...
Lessons from Cyber Breaches
Ten years ago, the mention of a cyber security breach was a rarity. Today, reports of breach incidents are almost commonplace. Every time a breach occurs in business the potential to cause significant harm and financial loss is mind-numbing. In addition, when the victim of a breach is a business, the owner is often held liable, especially if it...
Supreme Court to Decide Limits on Police Cellphone Tracking
This term, the U.S. Supreme Court will decide whether the police can track the real-time cellphone-based location and movements of a suspect using the suspect’s cellphone records. In Carpenter v. U.S., the police obtained Mr. Carpenter’s cellphone number from one of his alleged accomplices. Using this cellphone number, the police were able to...
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