Protect yourself from premise liability suits

Article Abstract:

Premise liability or inadequate security lawsuits are a bane to landlords, property managers and insurers. Plaintiffs of such lawsuits must show that the defendant has the responsibility to provide security, that the crime is predictable, and that there was a breach of duty on the part of the defendant and the breach caused damage to the plaintiff. Those who are in the risk group can prevent litigation through adequate preparation. Being prepared means knowing what are the chances that crime can occur, assessing security and implementing crime-prevention measures.

Direct Property and Casualty Insurance Carriers, Property & Liability NEC, Analysis, Prevention, Cover Story, Property and casualty insurance, Premises liability, Consumer complaints, Actions and defenses, Litigation

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New tax rules set for limited liability companies

Article Abstract:

The IRS has formulated new rules which could increase the attractiveness and flexibility of limited liability companies (LLCs). Aside from limited liability, LLCs are characterized by centralized management, continuity of life and free transferability of interest. The new IRS procedures are concerned with these three characteristics. The IRS has also ruled that in LLCs composed of member-managers, only the managers have to pay self-employment taxes. In LLCs without member-managers, all members will have to pay the self-employment tax.

Taxation, Limited liability companies

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Sell your business and still keep control

Article Abstract:

An Employee Stock Ownership Plan (ESOP) provides a convenient solution to common business succession problems. ESOP provides tax-deductible financing for the sale of the company's stocks. Selling shareholders can also defer their payment of capital gains tax indefinitely if the ESOP acquires at least 30% of the stock in the sponsoring company.

Management, Evaluation, Succession planning (Business), Employee stock ownership plans

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