Chapter 7 Vs. Chapter 13 Bankruptcy: What’s the Difference?

Of all the things you could declare in life, bankruptcy is certainly the least fun. Not only are you likely to lose your property after declaring bankruptcy, but it’ll destroy your credit rating for a good decade or so. However, not all bankruptcy claims are created equal, with each one having some distinctions that are worth remembering. If you’ve ever been on the brink of declaring bankruptcy, you know how awful Read More

How Estate Planning Can Help You If You Get Sick

When thinking of estate planning, most people think of making arrangements for what will happen to their assets after they pass away. This is definitely part of it, but the truth is, it doesn’t even come close to capturing the full scope of estate planning. A huge part of estate planning that most people don’t even consider is that it allows you to make arrangements for what will happen if you ever get seriously Read More

End of the Road? How to Properly Dissolve Your Small Business

The coronavirus pandemic has been hard on businesses. While some small business owners are finding creative solutions to move forward, others are making the difficult decision to call it quits and move onto their next chapter. If you fall into the second group, you may have questions about the technicalities of shutting down your business. While every business is different and your exact path will depend on your Read More

Served with Divorce Papers: What Now?

Divorce proceedings officially begin when one spouse serves the other with divorce papers. Sometimes you know it’s coming and sometimes it’s a complete surprise, but either way being served can be a very emotional event. Nonetheless, it is important to get to work as soon as possible to begin protecting yourself for the future. Once you’ve taken a moment to gather yourself emotionally, these are the steps you will Read More

A Brief Guide to the Section 1031 Exchange

What can you do to legally reduce the amount of tax you have to pay? If you invest in real estate a 1031 exchange, named after Section 1031 of IRS Code, is a valuable resource that you may want to look into. It might allow you to increase your net worth without having to pay up to 35% in taxes. A 1031 exchange is a transaction in which you exchange a property for another similar property and defer the tax Read More

How Child Support Amounts Are Calculated in New York

If you are facing a divorce in New York, you likely have questions about how our state handles child support. In New York, you may be required to make child support payments even if you share custody 50/50 with your co-parent. In these situations, the parent who earns less is usually treated as the “custodial parent” and the other parent pays child support accordingly.  New York has its own formula for determining Read More

Three Reasons Coronavirus Makes Estate Planning More Important Than Ever

These unprecedented times are scary for us all. The information, numbers and data continues to pour in daily. While it seems that COVID is mainly life-threatening for the elderly and immunocompromised, so much remains unknown, and the information is constantly evolving. For many, this is a wakeup call. Between accidents and undetected medical issues, the young and seemingly healthy have never been death-proof, but Read More

What You Need to Know About New and Evolving Programs in NYC

Things are changing rapidly in light of the COVID-19 pandemic that is sweeping the globe. The Drucker & Mattia team is committed to serving our clients throughout this hectic time, as well as to providing NYC business owners and families important information that may be relevant to them. In today’s blog posts, we’re looking at a few different programs that the City and State are rolling out to provide relief for Read More

What the CARES Act Means for Small Businesses and Their Employees

Congress has passed the $2 trillion relief package known as the Coronavirus Aid, Relief and Economic Security (CARES) Act, which was subsequently signed into law. The purpose of the Act is to provide some much-needed relief for many Americans, including aid to hospitals, individuals, and a variety of covered employers, including small businesses.  The implementation of this new law will undoubtedly impact many of Read More

Understanding the Difference Between Assault and Battery

Most people have heard of being charged with assault and battery. It is commonly referenced on television shows and in movies, which leads people to think that it is just a fancy legal term used when someone physically attacks another. The reality is, however, that assault and battery are actually two separate charges, which don’t always go together. This blog post explains the difference between the two. What is Read More