Making Your Charitable Dreams a Reality – Part Two: The Application

charitable

Making Your Charitable Dreams a Reality – Part Two: The Application Once you have your nonprofit corporate entity formed, it is time to apply for tax-exempt status.  The tax exemption application must be filed within 27 months from the end of the month in which it was formed.  There are exceptions to this rule, but […]

Making Your Charitable Dreams a Reality – Part One: Formation

charitable

Making Your Charitable Dreams a Reality – Part One: Formation The attorneys at Waldron & Schneider enjoy helping clients make their charitable dreams come true by turning their charitable ideas and passions into an official charitable organization or private foundation. Achieving tax-exempt status requires several steps including: forming a corporate entity, obtaining an employer identification […]

Potential Legal Implications of the Promissory Note

Potential Legal Implications of the Promissory Note The Promissory Note is a valuable tool used by individuals and businesses alike to lend and borrow money outside the parameters of traditional financing through a bank. Promissory Notes are often made for investment purposes but can also be used for personal reasons, to provide financing when funds […]

Proposed Changes to Estate Tax

Proposed Changes to Estate Tax Recent information regarding the proposed tax changes by the Biden Administration includes a proposal to reduce the federal estate and GST tax exemption from $11,700,000 per individual to the 2009 level of $3,500,000 per individual.  There is even a proposal to reduce the federal gift tax exemption to $1,000,000 per […]

Wire Fraud or “Business Email Compromise” – is the Bank liable?

Wire Fraud or “Business Email Compromise” – is the Bank liable? Many businesses and individuals rely on wire transfers for various payments and transactions. A wire transfer is an electronic transfer of funds between parties or, more accurately, between the parties’ banks. These types of transfers are privy to wire fraud, which occurs when a […]

Responding to Positive COVID-19 Test Results in the Workplace

Responding to Positive COVID-19 Test Results in the Workplace You’ve taken all available steps to protect your staff and maintain a safe workplace.  But, what do you do if your employee reports to work with COVID-19 symptoms or reports a positive test result?  Based on the current Center for Disease Control Guidelines for Business and […]

Daycares, Parents, and Court Orders

Written by Waldron & Schneider Attorney Kimberly A. Bartley. As a daycare owner in Texas, when parents are parties to a custody agreement outlining when each parent’s visitation period begins and ends, are you bound by the Court’s Order? The Texas Administrative Code contains the minimum standards acceptable for a daycare’s activities. These including addressing […]

New Overtime Rules Effective January 1, 2020

New Overtime Rules Effective January 1, 2020 Welcome to 2020! A new decade, a fresh start, and new overtime rules for non-exempt employees. Beginning January 1, 2020, under the Fair Labor Standards Act, the minimum salary an employee seeking to qualify for the executive, managerial, professional and outside sales overtime exemption must earn to be […]

Changes to Texas Franchise Tax Rules

Changes to Texas Franchise Tax Rules It is extremely important to file your Texas Franchise Tax Report and Public Information Report with the Texas Comptroller timely by May 15 every year.  Still, it is common for business owners to miss, which can lead to personal liability. Additionally, it can lead to penalties being assessed by […]

Confessions of Judgment & The End of An Era

Confessions of Judgment & The End of An Era A Confession of Judgment (“COJ”), a popular tool used by many New York based lenders, is a document signed by a borrower before they receive the loaned funds that waives the right to due process if a debt is not timely repaid. By signing a COJ, […]