Attorney Casey Jones

Back in February, I wrote on the Ohio Dog Bite Statute (R.C. 955.28) and debunked many of the myths surrounding liability for such claims. You can read that entry here.  Recently, our litigation team was able to achieve a settlement for our client, through a dog owner’s/homeowners’ insurance policy, of more than 12 times our client’s economic damages.*

Under Ohio law, dog owners/keepers/harborers are strictly liable when their dog injures another person (with very few, limited exceptions), even if it is the dog’s first incident – i.e., there is no “one free bite.” However, in instances where the dog has demonstrated aggressive tendencies previously, a victim may also be entitled to additional, punitive damages under common law. As responsible pet owners (and as the owner/lover of two extremely sweet, but large German Shepherds myself), it is our obligation to make sure that we understand and acknowledge our dogs’ temperaments and propensities, both for the safety of others and for our own economic interests.

The consequences of a dog attack can be severe and long-lasting for the victim, both from a physical and financial perspective, as well as mentally, and even for those victims who love dogs or may even have a dog of their own.

If you have been injured by a dog and would like to discuss your options, please feel free to contact me at (513) 943-5673 or casey@dev.finneylawfirm.com, and I would be happy to discuss the matter with you at no charge. I am also offering remote consultations to during this time to honor COVID-19 health concerns.

 

*Case values are dependent upon the unique circumstances surrounding each case and do not necessarily predict the value of any other case.

I am especially proud of the drafting, mostly by Curt Hartman, in today’s Reply Brief on the Motion for Preliminary Injunction in our case to open Ohio Music Festivals: Bellwether Music Festival, LLC, et al, v. Dr. Amy Acton, et al. Even for non-attorneys, it is a great explanation of our constitutional rights to Free Speech and Equal Protection under the First and Fourteenth Amendments to the Constitution.

Read the brief here and below.

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Attorney Rebecca L. Simpson

New Regulations regarding changes to PPP in Flexibility Act

On Friday, June 5, the Paycheck Protection Program Flexibility Act was signed into law and significantly loosened many Paycheck Protection Program (“PPP”) rules to make it easier for small businesses to use the loans in a way that will be forgivable. Two of the major changes to the PPP in the Flexibility Act where:

  1. The loan forgiveness covered period (“Covered Period”) was extended from 8 weeks to 24 weeks, so borrowers have 24 weeks after receiving their funds to spend them
  2. The required payroll percentage was reduced from 75% to 60%, so borrowers can spend up to 40% on covered non-payroll expenses (mortgage interest, rent, utilities)

These and other changes in the PPP Flexibility Act raised many questions about the impact of the new rules on the calculation of PPP forgiveness.

In the last few days, the Small Business Administration (“SBA”) has issued three new sets of regulations announcing revisions to prior PPP SBA regulations, to make the regulations consistent with the changes in the Flexibility Act.

Major Revision Impacting Self-employed and Independent Contractors

One of the revisions announced by the SBA raises the cap on how much self-employed and independent contractors can pay themselves out of their PPP funds.

Prior to the PPP Flexibility Act and the SBA revisions to the regulations, in general the amount that self-employed and independent contractors could pay themselves out of PPP funds was capped at the lessor of:

  • 8 weeks (or 8/52) of 2019 net profit, OR
  • $15,385 per individual in total across all businesses

According to a revision issued by SBA yesterday, that cap for the 24-week Covered Period has been raised to the lessor of:

  • 2.5 months (or 2.5/12) of 2019 net profit, OR
  • $20,833 per individual in total across all businesses

This higher cap applies to those who file a Schedule C or F and who use the PPP 24-week Covered Period (rather than the 8-week Covered Period). Although the Covered Period was increased from 8 to 24 weeks in the Flexibility Act, if your PPP loan was made before June 5, 2020, you may elect to have your Covered Period be the 8-week period beginning on the date of your PPP loan. If, however, you want to take advantage of the higher cap described above, you will need to use the 24-week Covered Period.

Conclusion

As part of our new Small Business Solutions Group, we will continue to stay on top of changes that may impact your PPP loan forgiveness and we will post updates on our blog. If you need assistance maximizing the forgiveness of your PPP loan, please contact Rebecca L. Simpson at 513.797.2856.

As is reported here by Jennifer Baker of Fox 19, today Finney Law Firm filed suit against Dr. Amy Action, former director of the Ohio Department of Health, to allow planned summer music festivals to proceed.

Read the story here.

David Nethers of Fox 8 in Cleveland also has the story here.

Read the Complaint here.

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  • posted: Jun. 11, 2020
  • Todd McMurtry
  • Taxation

It should not take a pandemic to remind us all of our own mortality and the need to plan for our loved ones. However, the lethal spread of the COVID-19 virus highlights why it is so important to have a sound strategy in place to minimize taxes and maximize the value of your estate. We still don’t know when or how this national emergency will end, but there are steps you can take right now to adjust to the financial turmoil and protect the people who matter most.

Whether you believe your estate will be subject to estate tax or not, it’s worthwhile to review and possibly revise your plan based on potential changes such as:

  • Stock market losses — Most stocks have dropped sharply since coronavirus started causing widespread harm in the United States. In light of the decreased value and uncertainty ahead, you might want to check to see if your estate plan reflects your current intentions. While nobody likes to watch their stock portfolio drop, the hidden silver lining is that now may be a good time to transfer assets that have reduced in value to loved ones, saving room under the annual $15,000 tax exemption for gifts to each recipient.
  • Interest rate drops — With exceptionally low interest rates, legal instruments such as Grantor Retained Annuity Trusts (GRATs) and Intentionally Defective Grantor Trusts (IDGTs) can be especially advantageous when it comes to lowering your taxable estate. In an IDGT, the grantor sells an asset to the trust in exchange for a payment of above market return. Paying above market is less of a burden when the interest rate is near zero. The grantor pays income taxes during their lifetime, but the underlying assets in the trust are allowed to grow, tax free, passing to the person’s estate without such growth impacting the taxable amount.
  • Estate tax threshold — Right now, the federal estate tax exemption is at an all-time high of $11.58 million for an individual, double that for a couple. Given the amount of government money expended to deal with the coronavirus pandemic, it’s possible that the exemption could revert to its much lower level when the law is set to sundown at the beginning of 2026.

An attorney who is familiar with complex tax laws and the latest developments in this area can help you guard your estate’s value against present and future threats.

About Finney Law Firm, LLC

Founded in 2014, FLF has grown to 15 attorneys located in offices in Eastgate and downtown Cincinnati with five major practice areas: Corporate Law, Real Estate Law, Employment Law, Commercial Litigation and Public Interest and Constitutional Litigation.  FLF has the unique claim to three 9-0 victories at the United States Supreme Court for its public interest practice along with breakthrough class action work.

FLF also has an affiliated title insurance company, Ivy Pointe Title, LLC, that closes and insures nearly a thousand commercial and residential real estate transactions annually.

For more information about Finney Law Firm, visit finneylawfirm.com.

Media Contact: Mickey McClanahan; mickey@finneylawfirm.isoc.net; 513.797.2850.

 

Last night, Empower U, the Cincinnati Area Board of Realtors, the Ohio Real Estate Investors Association, and Finney Law Firm  co-hosted a webinar for more than 140 participants on the topic of PPP loan forgiveness.

As background, in April, we helped hundreds of Ohio businesses access PPP and EIDL loan funds (see this webinar for small businesses for and this webinar aimed at independent contractors).

But Part #2 of the PPP program is qualifying for and applying for loan forgiveness. If you don’t do Part #2 properly, you will have to re-pay the funds.

Rebecca L. Simpson and Congressman Dr. Brad Wenstrup gave a detailed webinar (with a great and detailed PowerPoint) on the rules and approach to obtain forgiveness.  That webinar is posted by Empower U here.

If you have further questions about the PPP or EIDL loan programs, contact Rebecca L. Simpson (513.797.2856).

 

How do you hold a corporate annual meeting when the entire country is in lockdown? On the surface, it might seem like a simple matter of using a favorite video conferencing tool and perhaps checking to see if it’s been hacked. Annual meetings for corporations are more than get-togethers. They are legally mandated proceedings that could put the company at risk if proper rules are not followed.

Before you break out Zoom, Skype or Google Meet, you should be familiar with the state laws, corporate bylaws and SEC regulations that apply to your business. Here are some tips to get you started:

  • The SEC issues up-to-date guidelines on best practices — Corporations that issue stock are required to hold annual meetings in compliance with state law. These meetings have notice, publication, procedural and voting rules. There are numerous regulations stating how a corporation must go about changing the date, time and location of a meeting. In light of the restrictions related to COVID-19, the SEC has issued helpful guidance about how to comply with these regulations.
  • States differ on the validity of virtual meetings — Whether a virtual meeting fulfills your company’s legal obligation depends on its state of incorporation. For example, Delaware allows virtual meetings, with no particularly onerous requirements or regulations. New York accepts hybrid meetings where parties can join in online, but there must be an in-person component.
  • Don’t forget your bylaws — Check your corporate bylaws to determine if a meeting conducted through an online communication tool is allowed, and to see what types of notice might be required.
  • Take security precautions — With millions more people working and attending classes virtually, it is not surprising that many of our online video conferencing providers have struggled. Some have had latency or downtime issues, while others have suffered security breaches. Before you select a vendor for your virtual meeting, you will need to ensure that the platform is secure enough for confidential corporate discussions and appropriate for your particular needs, particularly if a large group of stockholders requires access.

Along with making security and technical arrangements, it’s wise to work with a knowledgeable attorney who can outline the federal, state and internal regulations that must be considered when adjusting the format of a corporate meeting in reaction to the coronavirus pandemic.

About Finney Law Firm, LLC

Founded in 2014, FLF has grown to 15 attorneys located in offices in Eastgate and downtown Cincinnati with five major practice areas: Corporate Law, Real Estate Law, Employment Law, Commercial Litigation and Public Interest and Constitutional Litigation.  FLF has the unique claim to three 9-0 victories at the United States Supreme Court for its public interest practice along with breakthrough class action work.

FLF also has an affiliated title insurance company, Ivy Pointe Title, LLC, that closes and insures nearly a thousand commercial and residential real estate transactions annually.

For more information about Finney Law Firm, visit finneylawfirm.com.

Media Contact: Mickey McClanahan; mickey@finneylawfirm.isoc.net; 513.797.2850.

 

 

 

 

Jane Schulte, Small Business Solutions Group

 

 

We all know that body language sometimes speaks more clearly about what we are thinking than our actual words.  We know that crossing our arms while speaking (or listening) communicates that we may be closed off; rolling our eyes makes a statement that we don’t agree with what is being said; looking away may mean we are distracted or bored; and, avoiding eye contact when speaking may mean that we are not being forthright.

But there is also email body language which is the message you are conveying with the written word that may tell the recipient things about you or what you are thinking that you do not intend.

When dealing with people, remember you are not dealing with creatures of logic, but creatures of emotion. ~Dale Carnegie

Have you ever been the recipient of an email that leaves you scratching your head as to the intention behind the words? A lack of response which feels like you are being intentionally ignored? Or an email that was very short which felt as if the sender was being curt? We all have, and in defense of the sender, 99% of the time, they are well meaning and there are other reasons are behind the communication. Rushed for time, lack of proofreading or not responding because they do not have an answer (yet).

For Example

You receive an email from a client asking you a question to which you do not know the answer.  You forward the email to someone else in your office who does have the answer and assume they will get back to you within a reasonable time.  Meanwhile, the client waits for your response.  Your colleague gets busy and does not get back to you until a week later and you then answer your client.

What is the client left with?  The sense that you do not find them important or that you are too busy to handle their inquiry.  In other words, they picture you with your arms folded or visualize you as stressed out with no time to handle the details.  But that was not your intention at all!

How do we avoid this?  When someone emails you with a question you cannot answer, reply immediately that you will need some time to obtain the answer which tells them 1) you received their email; and 2) you are on it! Blind copy yourself and then drag and drop the email into your Outlook ™ tasks or calendar for the next day so you can follow up in a timely manner.

Diligent follow up and follow through will set you apart from the crowd and communicates excellence. ~John Maxwell

Draft like you are writing a letter

Draft as the author and proofread as the recipient. An email should be drafted like a letter in that it should have a greeting and closing (i.e. Good morning/afternoon with the person’s name and a thank you or have a good day at the end).  The body of your email should convey your message concisely so that no two minds can differ on what is being said or asked.  If you draft the email with the reader in mind, you can avoid multiple clarifying exchanges, saving time and of course, showing your attention to detail and professionalism.

The worst distance between two people is misunderstanding. ~Anonymous

Also, it is a good idea to:

  • Insert a meaningful subject line so the recipient knows the nature of your email
  • Proofread and do not rely on spell check
  • Attach the attachment before you draft the email, so you do not forget at the end
  • Insert the recipient’s email address at the end to avoid accidently sending the email before it is complete

At the end of the day, we are all human

Your email body language may leave someone wondering if you are a kind and caring person ready to assist them or an unfriendly and burdened individual that they are bothering.  Since we are all human beings dealing with other human beings, kindness always wins the day.  The more words you can use in your email that reflect kindness and clear information, will not only put you in a favorable light, but also make people feel welcome and that they made the right choice by doing business with you.

Take a few extra minutes to put warm touches on your email to brighten someone else’s day.  When you have clear, positive, and warm engagements in email, others will remember that and may even adopt some of your style so they can pass it on.

Use self-awareness, along with a critical inward lens, when drafting emails. Effective communication is at the heart of every good relationship both inside and outside of your business.

To learn more about effective communication and other Work Smart tools, contact Jane Schulte, 513.797.2855.

 

  • posted: May 26, 2020
  • Todd McMurtry
  • Taxation

The traditional tax day of April 15 has passed and millions of Americans are taking advantage of the three-month reprieve given by the federal government and many states in response to the COVID-19 pandemic. Depending on your individual circumstances, you might be looking to file as quickly as possible in order to collect your refund. On the other hand, problems accessing information or scheduling meetings with an accountant or tax preparer could push your submission closer to the revised deadline.

For filers and businesses alike, this is a necessary and welcome change, as many do not have access to their records and cannot get them while various parts of the country are in a lockdown. With the extension, you should have enough time to gather your records and pay — without penalty — at the later date. If you haven’t filed yet, you should know:

  • Federal filing and payment deadlines are extended — Initially, it appeared that the deadline for filing would not be extended, but the deadline for payment would be. However, subsequent events, the potential for confusion and the overwhelming effect of the pandemic led the federal government to push the deadline for both out to mid-July. Just as we cannot foresee how long the deadly COVID-19 threat will last, we cannot be sure if further extensions or adjustments will be made.
  • States are taking various approaches — Many states have also extended their tax filing and payment deadlines. Some have followed the IRS by moving the date to July 15. Others have closer deadlines, while some states aren’t offering relief. It is important for you to learn what the standard is in your state, so you should refer to an official website or reliable professional if you have questions.
  • Refunds are available — Some confusion might have been caused by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The process for sending stimulus checks authorized by that law used income and bank account information from tax filings to determine eligibility and transfer funds. If your income rises above a certain level, you are not eligible for those payments, but standard tax refunds are being paid promptly regardless of your income or the amount you expect to receive.

Even in the first two months since the coronavirus started causing widespread harm, numerous changes have affected personal and business taxation. For example, there is a recently announced paid sick leave tax credit which many businesses are likely to avail themselves of during this pandemic. Though no one can be sure what’s coming, a knowledgeable taxation attorney can keep you abreast of key developments.

About Finney Law Firm, LLC

Founded in 2014, FLF has grown to 15 attorneys located in offices in Eastgate and downtown Cincinnati with five major practice areas: Corporate Law, Real Estate Law, Employment Law, Commercial Litigation and Public Interest and Constitutional Litigation.  FLF has the unique claim to three 9-0 victories at the United States Supreme Court for its public interest practice along with breakthrough class action work.

FLF also has an affiliated title insurance company, Ivy Pointe Title, LLC, that closes and insures nearly a thousand commercial and residential real estate transactions annually.

For more information about Finney Law Firm, visit finneylawfirm.com.

Media Contact: Mickey McClanahan; mickey@finneylawfirm.isoc.net; 513.797.2850.