Waiting for Change—Antitrust in Distribution in Early 2021

Recently, I was researching antitrust developments in 2020 to update my Antitrust in Distribution and Franchising book.  While there were several developments last year, what struck me was the large number of potentially drastic changes to antitrust distribution law that started to play out in 2020 but are continuing into 2021.  Whether you think of them […]

Steven CernakPartner, Bona Law PC

Payments from a Closely Held Corporation to its Shareholders Can be Questioned by the IRS

The issue is if compensation paid to its owners by a closely held C corporation may be reclassified as a disguised distribution of profits (dividend).  For example, a corporation paid a large, year-end management fee to each of its three owners. The Tax Court determined, based on the facts and circumstances, that the payments to […]

Robert HobermanManaging Partner, Hoberman & Lesser CPAs, LLP

What Happens if Congress Overrides the Classic Antitrust Platform Market Case of American Express?

Authors:  Kristen Harris and Steven J. Cernak As we covered earlier (see here and here), the recent U.S. House Judiciary Committee Majority Report on its Investigation into Digital Markets recommends that Congress override several classic antitrust cases. In particular, the Report recommends “clarifying that cases involving platforms do not require plaintiffs to establish harm to both sets of customers” by overriding Ohio v. American Express. […]

Steven CernakPartner, Bona Law PC

Find Your Company’s USP

Every company has its strengths and weaknesses, yet some business owners spend so much time trying to eliminate the weaknesses that they never capitalize on their strengths. Take the time to identify your company’s unique selling proposition — what makes you different from the competition. Your competitive edge might be something as complex as offering customized, state-of-the-art technological […]

Robert HobermanManaging Partner, Hoberman & Lesser CPAs, LLP

Credit Scenarios to Improve Your Collection Rate

For the sake of your company’s bottom line and continued good relationships with good customers who fall behind on their bills, it’s important to know what condition their finances are in when things go wrong. That way, when circumstances change and some of your customers become hard pressed to make payments, you can tailor your approach […]

Robert HobermanManaging Partner, Hoberman & Lesser CPAs, LLP

Build Security Into Telecommuting

Telecommuting has become commonplace in many industries, as increasing numbers of employees find they are more productive if they don’t have to deal with the daily hassles of commuting and the distractions of a busy office. Moreover, companies that don’t offer some telecommuting jobs run the risk of losing out on some desirable hires. Nevertheless, once […]

Robert HobermanManaging Partner, Hoberman & Lesser CPAs, LLP

Encourage Your Child to Fund an IRA

Looking for a lasting gift for your children or grandchildren? Once they start working, teach them good savings habits by encouraging them to fund Individual Retirement Accounts (IRAs). Keep reading to see how this can be a significant help toward retirement, even if your child only contributes for a few years. Read full article here

Robert HobermanManaging Partner, Hoberman & Lesser CPAs, LLP

Protect Your Company Against Business Theft

Businesses have always been targets for criminals and fraudsters. Threats can arise from outsiders, such as robbers and burglars, or from insiders. Unscrupulous cashiers and store managers have been caught taking “loans” from the register or the store safe. Bartenders sell drinks out of their own bottle, or skip the point-of-sale system, ring up cash orders […]

Robert HobermanManaging Partner, Hoberman & Lesser CPAs, LLP

New Appropriations Act Includes Disaster Tax Relief

The Consolidated Appropriations Act is nearly 5,600 pages. It contains several tax-relief measures related to qualified disasters. These provisions include liberalized deduction rules for personal casualty losses, tax-favored treatment for distributions from IRAs and retirement plans, an employee retention tax credit and more. Here’s a summary of the disaster relief provisions. Read the full article here

Robert HobermanManaging Partner, Hoberman & Lesser CPAs, LLP

Ways to Fully Deduct Business-Related Meals

Restaurants have struggled mightily during the COVID-19 pandemic. Thankfully, they’re specifically targeted for a new tax relief measure found in the massive Consolidated Appropriations Act (CAA), which became law on December 27, 2020. The new provision creates a temporary but meaningful tax incentive to spend more on business-related food and beverage costs. Preexisting tax breaks for […]

Robert HobermanManaging Partner, Hoberman & Lesser CPAs, LLP