Coolidge Wall Co., L.P.A.
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Recent Blog Posts

Waiver of Subrogation - How it Helps Mitigate Risk in Commercial Leases

Oftentimes, a commercial lease (as well as other real estate contracts) will contain a "Waiver of Subrogation," but few landlords, tenants and other parties realize the importance of such provision and how a waiver of subrogation can help manage and allocate potential risk.

Election Day and the Workplace: Issues for Ohio Employers

Robert Frost once advised, "Thinking isn't to agree or disagree. That's voting." One question that HR professionals are thinking of every election season is, "Do we need to provide employees time to vote?" In Ohio, the answer is likely yes.

IRS Announces 2019 Pension Plan Limitations

On November 1, 2018, the IRS announced cost-of-living adjustments for 2019 retirement plan contributions. For 2019, the amounts that individuals will be able to contribute to retirement plans will increase from $18,500 to $19,000. However, the catch-up contribution limit for employees age 50 and over will remain unchanged at $6,000. This chart summarizes the limitations for 2019:

Ohio Proposes Tax Credit for Investments in Opportunity Zones

Background

In December 2017, Congress's passage of the Tax Cuts and Jobs Act created Qualified Opportunity Zones ("Opportunity Zones"). In general, a taxpayer who invests in an Opportunity Zone can defer capital gain taxes and potentially reduce his capital gain by receiving a 10% to 15% increase in basis, in addition to paying no tax on any appreciation of the investment in the Opportunity Zone. Click here to find a more detailed discussion of Opportunity Zones.

DOL Publishes New FMLA Forms

Links to the new forms are below, or visit the DOL website to browse them at this DOL web page.

Notices (pdf format)

Certification forms (pdf format)

Sports Betting: Coming to a City Near You

Last May, the United States Supreme Court ruled that the federal Professional and Amateur Sports Protection Act of 1992 ("PASPA") was unconstitutional.[1] PASPA was enacted to prohibit state-sanctioned sports betting and effectively outlawed sports betting outside of Nevada (which was given an exemption). As a result, sports fans often turned to black market bookmakers to place wagers on their favorite sports teams.

The Game of Risk (Allocation)

According to Benjamin Graham in his book, The Intelligent Investor, "Successful investing is about managing risk, not avoiding it." This same concept holds true and can be applied to transactions involving the purchase or sale of a small to medium sized business. Even with unlimited resources to conduct due diligence, there will always be risk for both the buyer and the seller in any business transaction. One of the most significant sources of risk in a business transaction is the risk of the unknown: in all cases, the buyer or seller "does not know what he or she doesn't know".

Do's and Don'ts When Your Company is Sued

Even in the age of tort reform, lawsuits are prevalent and an inherent cost of doing business. For most companies, it is not a question of if you will be sued, but when. Preparing for inevitable and arming yourself when that time comes are vital to protecting your interests and ensuring the longevity of your company's success. To assist in that process, below are a few general do's and don'ts for litigation success.

Supreme Court Holds Mandated Public Sector Union Agency Fees Unconstitutional

On June 27, 2018, the United States Supreme Court declared that fees charged to dissenting employees pursuant to a union agency shop arrangement violates the First Amendment. In a 5-4 vote in Janus v. AFSCME, Council 31, No. 16-1466, the court found in favor of Mark Janus, an Illinois public employee who refused to join the union yet had so-called agency or "fair share" fees taken from his paycheck every month, adding up to more than $500 each year.

Recent Tax Legislation Eliminates Deduction for Confidential Sexual Harassment Settlements

Last December, Congress responded to an avalanche of sexual harassment and abuse claims across the country by including a provision within the Tax Cuts and Jobs Act at Section 13307 impacting an employer's ability to obtain a tax deduction for settlements paid that include nondisclosure agreements. Internal Revenue Code Section 162(q) now provides that no deduction will be allowed for any settlement or payment related to sexual harassment or sexual abuse if such settlement or payment is subject to a nondisclosure agreement. Deductions for attorney's fees related to such confidential sexual harassment settlements or payments are also prohibited.