If one of your goals for the coming year is to sell your business, you likely have mixed emotions about it. Perhaps this is something you have been contemplating for a while, or circumstances have told you this is the right time to let it go and try something new.
Part Five: What qualifies as a "taking" of private property that would trigger your right to compensation?
As we've discussed before, there are situations where an agreement you have entered into with a customer, vendor, supplier or other party is found to be unenforceable. Assuming you have a valid, enforceable contract, though, what can you expect when it comes time to enforce it?
If your organization employs workers who customarily receive tips, you may have considered taking a federally authorized credit against some of their tips. The Fair Labor Standards Act requires that all covered workers be paid at least $7.25 an hour, but tips can be counted toward some of the minimum wage requirement. Employers can use the tip credit to pay as little as $2.13 an hour to tipped workers as long as their tips make up the remaining $5.12 per hour.