Shift Into
Your Best Business Model

Firm News

Should You Draw a Salary As a Business Owner?

There are a lot of reasons to start a business, and making money as an owner typically tops that list. But should you actually draw a salary from your business? I’m Neil Fridman with the Fridman Law Firm. Today, I want to walk you through your options to pay yourself...

Passion, Drive & Starting a Business at 12

Join us for our first podcast episode with Neil Fridman Esq., Managing Partner and Founder. Watch Neil talk about starting his first business with his grandmother to eventually starting his own law firm. His advice to entrepreneurs weighing the security of their 9-5...

Investment Banker Turned Lawyer… Here’s WHY!

So, people are always asking me: “Why did you start your own law firm? Why do you focus on startups? Why not focus on established, medium-sized enterprise clients?” And the answer is: I have done that already. I worked for two full-service law firms, working with...

Opportunity Zones Allow Deferral of Gains

The Tax Cuts and Jobs Act became law on December 22, 2017. The Act is best known for its revision of individual tax rates and brackets and for setting the federal income tax rate at a flat 21% for corporations. But the Act also allowed for the creation of Opportunity...

Raising Capital for Startup Companies

Every startup begins with an idea. The idea grows and changes. Eventually, clarity is achieved. At that point, unless the founders are independently wealthy, they must begin raising capital to turn their idea into a profitable business. This post outlines the stages...

The CCPA: California Consumer Privacy Act

The news often includes stories about data breaches, large and small. These breaches range from inadvertent releases of personal information by large companies, to information theft, to website hacks and more. The amount of personal information the Internet contains...

Section 409A Requirements and Valuation Rules

Section 409A of the Internal Revenue Code (IRC) applies when an employee earns compensation in one year, but the employer actually pays the compensation in a future year. Section 409A requirements apply when compensation is considered paid under a “nonqualified...

1031 Exchange: Federal and New York Law

Ordinarily, if you buy an asset and its value appreciates, you must pay capital gains tax when you sell the asset. If you are in a low income tax bracket, no capital gains tax might be due. For most taxpayers, the federal capital gains tax rate is 15% and for some it...