New York Small Business Law

Don't mess with the Workers' Compensation Board

Imke Ratschko — Thu, 21 Jan 2010 19:27:32 -0500

I recently got a pleasant letter from Dun & Bradstreet, acting as a debt collector for the New York Workers' Compensation Board. Supposedly, I owed the New York Workers Compensation Board $60,000 in penalties and outstanding insurance premiums for a household employee of mine. 100 phone calls and letters later (I am only slightly exagerating), I finally got them to concede that I owed them nothing. The problem arose due to a clerical error; the Board couldn't find proof of my insurance in their records. But let me tell you, those debt collectors aren't in the business of being nice...

Online Bookkeeping with Outright.com

Imke Ratschko — Mon, 18 Jan 2010 22:22:49 -0500

Outright.com offers free online bookkeeping for self-employed folks and small businesses. It's very basic, but seems to have everything you need. I always wonder how sites like that are going to make money if the service is free and expect them to start charging once you got hooked on the service. Anyway, they also have some good information on their site. See here for a post on quarterly estimated tax payments.

Tax Changes for 2009 (when filing in 2010)

Imke Ratschko — Sat, 16 Jan 2010 13:59:06 -0500

Get up to date with this article from the Journal of Accountancy and use their useful Filing Season Quick Guide.

NY S Corporations v. LLCs - The 2010 Edition

Imke Ratschko — Sat, 16 Jan 2010 09:02:27 -0500

Prologue: This is a long overdue update on an old classic: Choosing between an S corporation and an LLC - The New York Perspective. Many small business owners end up deciding between a New York S corporation and a New York limited liability company (LLC) when choosing a formal legal structure for their New York business. Both entities offer limited liability and a startup friendly tax treatment. But which entity is right for your small business? The following are some frequently asked questions with respect to the two business entities. What is an S Corporation? An S corporation is a...

E-Verify - Your Form I-9 Employment Eligibility Verification Online

Imke Ratschko — Fri, 15 Jan 2010 06:47:19 -0500

E-Verify is a free and voluntary system offered by the Department of Homeland Security that lets you check your employee's employment eligibility. It doesn't save you the step of completing Form I-9, but it gives you a system to check information and documents given to you by your employees. By way of background, Employment Eligibility Verification by way of completing Form I-9 is required every time you hire a new employee. You have to complete and keep on record a Form I-9 for each employee (U.S. citizens and non-U.S.-citizens). In completing the form, you have to examine the employees authorization...