Companies should be aware that even when they have a written contract that spells out the parties’ responsibilities, e.g., pay rent monthly, they need to monitor compliance with those responsibilities. Failure to do so – sloppy follow-up – can result in a “quasi-new agreement.” The Georgia Court of Appeals’ recent decision in The Hatchett Firm, P.C. v. Atlanta Life Financial Group, Inc., 358 Ga. App. 607 (2021), vividly illustrates this point. In that case, a sublessee paid partial rent payments for ten months and no rent for 6 months. The sublessor sued the subtenant for the unpaid past due rent… Read more
Initial Coin Offerings (ICOs): SEC Regulation and Available Exemptions From Registration
Initial Coin Offerings or Token Offerings (commonly known as “ICOs”) became an increasingly popular means of raising capital in 2017 and 2018, with icodata.io showing over $7.8 billion raised from ICOs in 2018 alone. The ICO market, however, has cooled considerably in 2019, with icodata.io showing only 98 ICO’s raising an aggregate of $0.36 billion as of the end of October 2019, and this decrease is likely a result of increased scrutiny from regulators, including, in particular, the U.S. Securities and Exchange Commission (“SEC”). While the regulatory pendulum has swung in the direction of the SEC demanding more registered offerings… Read more
Will the New Tax Laws Deter the Middle Class from Charitable Donations?
Arguably the biggest impact the new tax laws will have on Americans, no matter what socio-economic class they may belong to is the major changes to the personal or non-business deductions, which deductions a taxpayer can elect to either itemize or take a standard or fixed amount, whichever generates the larger deduction. Before President Trump’s tax law, which was signed on December 22, 2017, personal deductions included, in part, the taxpayer’s real estate and local property taxes, state and local income taxes paid, interest paid on mortgages on a primary and second residence (capped at $1 million in acquisition and… Read more
How Does the New Tax Law Affect You?
On December 22, 2017, President Trump signed a new tax law, the Tax Cuts and Jobs Act, which made permanent corporate cuts and various individual changes that will expire at the end of 2025. The bill represents the most significant tax changes in the United States in more than 30 years with new tax brackets, modified deductions and credits, and eliminations of personal exemptions. Here is a summary of the most significant changes that will affect you as a taxpayer and what to look for when filing your upcoming tax returns. New Brackets for Income Taxes/Increase of Standard Deductions The… Read more
Bitcoins and Cryptocurrencies
How do I buy and sell Bitcoins? Bitcoin hit an all-time high price of $17,801.94 on December 15, 2017, with many analysts predicting even higher prices. Where does one acquire Bitcoin? Bitcoins transactions can be done in many familiar ways. There are brick and mortar ATM’s in several countries (coinatmradar.com) where one can deposit currency and purchase Bitcoin. Some also allow selling of Bitcoin, but many do not. There are several Bitcoin ATMs in New York City, and Tel Aviv also has a few. The Bitcoin ATM (aka The Bitcoin Embassy) located across the street from the Tel Aviv Stock Exchange… Read more
What Are ICOs and How Do They Work?
Introduction As of April 2018, Initial Coin Offerings (“ICOs”) – an industry analysts believe can eventually become a multi-trillion dollar space – raised a staggering USD $5,014,952,132. With a total market capitalization of over $100 billion, the cryptocurrency market has attracted the attention of many, including traders looking for quick cash with few regulations. What are Initial Coin Offerings? ICOs are another form of cryptocurrency that businesses use in order to raise capital. Through ICO trading platforms, investors receive unique cryptocurrency “tokens” in exchange for their monetary investment in the business. It is a means of crowdfunding through the creation… Read more
Important Changes by U.S. Courts Regarding the Permissibility of Service of Process by Mail and Defendants Located Outside the U.S.
BACKGROUND: The United States, Israel, and many other leading international economies are signatories to the Hague Convention on the Service Abroad of Judicial and Extrajudicial Documents in Civil and Commercial Matters (the “Hague Service Convention”), a multinational treaty “intended to provide a simpler way to serve process abroad, to assure that defendants sued in foreign jurisdictions would receive actual and timely notice of suit, and to facilitate proof of service abroad.” The treaty requires each signatory state to establish a central authority that receives international service requests and thereafter serves documents by a method prescribed by the internal law of the… Read more
Will the Masterpiece Bakeshop v. Colorado Civil Rights Commission Have a Lasting Impact on Future Cases Involving LGBTQ Rights?
On June 4th, 2018 The United States Supreme Court came to a 7-2 decision that made some raise their eyebrows. The decision was in favor of Jack Phillips, a talented baker, and owner of Masterpiece Bakeshop, who in 2012 opted not to bake a cake for the wedding of Charlie Craig and Dave Mullins, a homosexual couple. Phillips claimed that he would not make a cake for their wedding due to his religious beliefs as he felt that creating this cake would have him be involved in and endorsing the wedding celebration, something that his religion prohibits. He added as… Read more
New York City’s New Lactation Room Laws – What Employers Need to Know
Starting March 18, 2019, all New York City employers with four or more employees must comply with new laws requiring employers to provide lactation rooms to breastfeeding employees, as well as develop a lactation policy and processes for employees to request accommodations for nursing. Employers must provide breastfeeding employees with access to a lactation room Specifically, the new laws require that employers provide employees who need to express breast milk during the workday with: A lactation room which is defined as “a sanitary place, other than a restroom, that can be used to express breast milk shielded from view and free… Read more
Years in the Making: E-2 Visas Available to Israeli Citizens
In 2012, President Obama signed a treaty which would ultimately set the stage for the extension of the E-2 visa to Israeli citizens. However, this process was delayed until the launch of a reciprocal treaty offered to U.S. citizens in Israel. While this ultimately took nearly seven years, in June 2018 Israel approved the issuance of the B-5 investor visa to U.S. entrepreneurs for investment in Israel. As a result, on May 1, 2019, Israeli citizens were able to apply for E-2 visa status in the United States, joining approximately ninety (90) other countries that are afforded similar status. A… Read more