THE SSP FIRM BLOG

10 of the Strangest Employment Laws in the United States

Authored by Joshua M. Smith, Employment Law Lawyer We all know about the typical, common-sense employment laws out there (minimum wage, anti-discrimination/harassment, FMLA, etc.), but here are some of the less common laws in the labor and employment arena. Some of these may benefit you to know, while others are just good trivial knowledge for […]

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Is Your Deferred Compensation Plan 409A Compliant?

Authored by Jeffery G. Stagnaro, Attorney and Jeffrey B. Stagnaro, Law Clerk Nonqualified deferred compensation (“NQDC”) plans are common tools for business owners with respect to the compensation and retention of key employees. Under an NQDC plan, an employee may defer receipt of compensation due in one taxable year to a later taxable year—with payment

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Business Succession Planning for Closely Held Businesses: 7 Key Steps

Authored by Jeffery G. Stagnaro, Business Law Attorney and Jeffrey B. Stagnaro, Law Clerk Closely held businesses are substantial drivers of the economy.  Family owned businesses, for example, account for roughly 50% of GDP in the US.  Yet, only 30% of family owned businesses transition successfully to the second generation.  Among other factors, inadequate or entirely absent business

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10 Common Items to Consider in Drafting a Severance Agreement

Authored by Josh Smith, Employment Lawyer Employee terminations happen. It is an unavoidable fact of running a business. To avoid the costs and expense of litigation, many companies offer severance packages to employees in exchange for a release of all claims, actual or potential, through the end of their employment. While these agreements are a

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The DOL Overtime Rules: A Cautionary Tale on Nationwide Injunctions

Authored by Josh M. Smith, Employment Law Lawyer Most employers were hopefully well aware of the Department of Labor’s new overtime regulations raising the minimum salary threshold for exempt employees from $23,660 to $47,746, originally set to go into effect on December 1, 2016. Undoubtedly, many employers made proactive business decisions to switch their affected

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