Many small business owners feel buried in paperwork. Running a small business requires a certain amount of commitment that only the owner is able to tackle. But this means that there is a mountain of paperwork that comes with the territory. Among other things, the bills must be paid and the checkbook must be reconciled  Continue Reading »

Washington Mutual, Inc. v. United States, 2014 Del. LEXIS 115 (March 14, 2014) In a case arising out of the savings and loan debacle, the successor-in-interest to a “healthy” thrift that agreed to take over a number of failing ones sued the government for a tax refund based on tax deductions and losses for certain  Continue Reading »

A natural disaster is always bad news for a Maine-based small business, but sometimes a tax break can be salvaged. A hurricane, earthquake, tornado, fire, flood, or storm usually means that business owners can claim a casualty loss deduction on their tax returns. Usually, vehicle collisions or thefts also qualify for the tax break. Remember,  Continue Reading »

What happens if you’re the owner of a limited liability company (LLC) that generates tax losses, and you don’t spend a lot of time in the activities of the business? The losses might be classified as passive, and your ability to currently deduct them might be severely restricted by the passive activity loss (PAL) rules.  Continue Reading »

Employment at will issues are often hashed out in the courtroom, defending against them, especially those involving wrongful termination lawsuits, require significant industry expertise. This, combined with exhaustive research and complete analysis, are key elements to a successful outcome in court. When it comes to wrongful termination cases, there are some specific things that litigation  Continue Reading »

The valuation opinions of nonexperts can be a useful reality check on the opinions of bona fide valuation experts, says the Delaware Court of Chancery in a case that involves an increasingly popular technique known as “appraisal arbitrage.” The court’s finding applies to other cases involving valuation matters. Discovery dispute: Two investment firms bought millions  Continue Reading »

Fraud within a small business used to be rare. But now, many different types of organizations are falling victim to internal fraud. The good news is that while no anti-fraud system is infallible,there are things that small business owners can do to reduce the risk of fraud. Some of these things include: Setting up incident  Continue Reading »

When you take out personal loans to buy a Maine-based small business, you want to maximize the tax write-offs for the resulting interest expense. The tax law in this area can seem complicated. But if you do some research ahead of time and talk with Filler & Associates, you can get the best possible outcome. The first  Continue Reading »

Wisniewski v. Walsh, 2013 N.J. Super. Unpub. LEXIS 724 (April 2, 2013) Children learn that bad behavior has consequences. An appellate court recently taught a similar lesson to a troublemaking shareholder whose doings forced a buyout. Three siblings each owned a one-third interest in a family business. They had a falling out, and one sued  Continue Reading »

As a Maine-based small business owner, it may seem like a natural progression to expand north. Canada is a globally competitive country and an extremely cost-effective market. This makes it a good choice for businesses, especially those in the northern United States, to enter. When considering an international expansion, there are five important issues involved  Continue Reading »