Under the federal Fair Labor Standards Act (FLSA), employers must pay an employee an overtime rate of at least one and one half times the regular pay rate for any hours in excess of 40 hours a week. There are … Continue reading
Author Archives: Mark Klein
Sculptor Slays Government Goliath
Some 20 years ago, a World War II veteran and prominent sculptor won a government competition to sculpt a memorial to Korean War veterans in Washington, D.C. His creation depicts a platoon of stainless steel, larger than life foot soldiers … Continue reading
Tax Credits for Historic Preservation
For over 30 years, the federal government has been using tax incentives to help preserve historic buildings. Originally, federal law allowed accelerated depreciation on rehabilitated buildings, but subsequent changes have made preservation and revitalization efforts even more attractive to taxpayers. … Continue reading
Myspace, Students and Free Speech
In separate cases, two public school students used MySpace to post disparaging comments about each of their principals. Each of the students was punished with a suspension from school, and each made a federal case out of it, literally, by … Continue reading
What is an S Corporation?
An S corporation is a form of business classified for federal income tax purposes as a corporation that has elected to be taxed as a pass through entity, in a manner similar to a partnership or sole proprietor. Unlike a … Continue reading