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

Four Signs Your Business Dispute is Headed for Litigation

If you have been in business for a while, you might be familiar with the foreboding feeling that comes with impending lawsuits. Other times, even the most seasoned business people get slapped with litigation they never saw coming. Although defending yourself against a lawsuit is never a desirable situation, being able to sense trouble before it strikes can give you time to prepare. Below are four signs that could Read More

Closing Costs Simplified

When you buy or sell real estate in New York, you’ll pay closing costs, which are transaction-related fees outside of the actual sale price. Both buyers and sellers are responsible for these costs, although the type and amount can vary by lender and the type of property involved (for example, house vs. condo). Standard New York Seller Closing Costs If you are the seller, you may be responsible for the following Read More

Understanding CAM

When you rent an office space for your business, the monthly rent is not the only cost that you will have to pay. In many cases, you are also required to pay for common area maintenance or CAM to cover costs associated with the building's shared parts such as elevators, lobby, and parking lot.  What is the Purpose of CAM? CAM fees require tenants to help cover the direct expenses of the property owner for Read More