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The Gabay Law Group, P.C. works with small businesses and startup companies located in New York who wish to acquire the value and benefit of an in-house corporate counsel, but cannot yet justify the expense. Typically, our clients have up to 25 employees and/or annual revenue under $20 million. We are different than almost every other business law firm. Why? Because of our fixed fee/flat fee pricing model. All of our work is billed on either a fixed fee per project or a fixed monthly retainer basis. Your company is never ‘on the clock.’ You can finally budget your legal costs just like every other important recurring expenses in your business.
Our fixed monthly fee approach has the added benefit of smoothing out the cost of fluctuations in the amount of legal work and advice your business may need. There may be some months where little or no work is required, and others in which your business needs substantial amounts of legal help and advice. The ability to even out legal costs allows your business to predict and manage its legal costs just like it does other important and recurring expenses.
New York Small Business & Startup Company Blog
Amendments to New York's Wage Theft Prevention Act-What You Need to Know
New York’s recent amendments to the Wage Theft Prevention Act, which became effective on April 9, 2011, requires all New York employers to provide new and expanded wage rate information and notices to all employees. The law contains very substantial civil monetary penalties for employers who fail to comply with the new requirements.
Here is a summary of the new rules. For help in applying the new requirements to your business, please contact us at 631-467-4177 or David@New-York-Business-Lawyer.com
Read more...Buying a Small Business In New York: 5 Critical Steps You Need to Know
So, you decided you are going to buy a small business. Good for you. Owning your own business can be one of the most exciting experiences of your life. But, it is in the end a business decision, and like every other business decision there are steps and checklists which help guide you through to a successful purchase.
Here are the five steps to buying a small business in New York:
1. Find Your Business: You can find businesses to buy in many places: business brokers, the internet, networking connections, friends, and family. Once you find a business, you will generally do some basic investigation into the company’s assets, liabilities, products, customers, market, etc. If you are satisfied with this initial and informal homework, then you go on to the next step.
Read more...Closing a New York Corporation
Every business eventually comes to an end. Whatever the reason, and whatever the circumstances, closing a business should always be done in the proper manner. Neglecting the details when closing your business can have any number of negative consequences later on: tax liabilities, business credit implications, and even personal liability for the company’s shareholders and officers.
So, what is the right way to close a New York corporation? Here is a checklist of the steps required to close a company:
1. Contact the New York State Department of Taxation. You will need written consent from the department in order to close the business. The department has its own rules and procedures which must be followed in order to get its consent.
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