COMPLETE BUSINESS AND TAX COUNSEL FOR DC AREA BUSINESSES AND BEYOND
At General Counsel, P.C., our attorneys have extensive experience representing a wide range of local, regional, and national companies and business ventures. We are particularly attuned to the needs of government contractors and emerging growth companies as they engage in a variety of transactions.

Employment Law: Changing Requirements for White Collar Overtime Exemption on Hold

Introduction As we told you earlier, the general rule for the white collar overtime exemption was subject to an overhaul this year, with the changes scheduled to go into effect December 1, 2016.  Specifically, the minimum salary level for exempt employees was scheduled to rise from $455 per week, or $23,660 annually, to $921 per
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Employment Law: Court Determines Gov’t Contractor’s Non-Compete Unenforceable

Case: RLM Commc’ns, Inc., v. Tuschen, No. 14-2351 BL 244020, 41 IER cases 971 (4th Cir. July 28, 2016) Issue: Non-Compete Agreement Determined to be Unenforceable Because Overly Broad Court Holding: In litigation between two competing government contractors, Fourth Circuit affirmed district court’s summary judgment against plaintiff.  Former Employee and her new employer did NOT
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NEVER Purchase a Business without Advice of Expert Corporate Law Attorneys

Purchase a Business.
This article will help you to better understand the ins and outs of when you decide to Purchase a Business. Recently, a client arrived at our office: On his last leg. In Debt. Humiliated. Scared Facing Divorce over a business mistake. Why? Two years ago, he put his family’s savings into an LLC formed on one
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Wells Fargo False Accounts Scandal

Poor Culture, Misaligned Incentives and Massive Fines… Lessons for Businesses of Every Size “Many of the employees felt pressure to sell customers multiple products or services… to stay in their jobs or earn bonuses tied to sales goals… branch employees met with their managers several times a day to report their progress on meeting cross-selling
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Selling Your Business Successfully

Selling Your Business – Processes and Procedures as Tangible Assets “It’s clear you need systems and processes that will continually push the organization … (and signal when this is not happening)…” – Steve Denning, contributor, Forbes. When the time comes to sell your business, the buyer will want to thoroughly examine the company. Documented process
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Year-End Planning is a MUST! Don’t Make THIS Mistake!

The year-end is coming up and planning for 2016 should be underway.  I was at a client’s office a few days ago and we were discussing their strategic plans and 2015 performance. They were very excited about the growth and giddy about their profits. I was dubious of the numbers because the profit percentage was
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Ask A Small Business Attorney: How To Set Up A Limited Liability Company?

A small business attorney will tell you that Most small businesses now are being organized as limited liability companies (“LLCs”) because of the limited liability afforded owners of the company and the favorable pass thru income tax treatment of the company’s earnings. In addition, management of the company can either be retained by the owners—that is,
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SEC Adopts Crowdfunding Rules to Permit Small Investors to Purchase Shares Over the Internet

On April 12, 2012 President Obama signed into law the Jumpstart Our Business Startups Act (commonly known as the JOBS Act) which was intended to enhance the ability of start-ups and smaller private businesses to attract funding from investors through “Crowdfunding”—which would involve solicitation by a company of funds through Internet fundraising portals. The actual
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I’m considering a sale of my corporate business. Should I sell its assets or my stock ownership in the company?

Often times a business owner of a corporation considering a sale of the business will wonder how to structure the sale. Should the company sell its assets and then, after paying its liabilities and other expenses, liquidate and distribute the remaining sale proceeds to its owner, or instead should the owner sell the company stock
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Small Business Lawyer: Converting Your Partnership to a Limited Liability Company

Prior to the wide-scale acceptance of limited liability companies (“LLC”), many business owners who wished to avoid a “double tax” on the income from their business turned to general partnerships. While that form of entity did generally avoid the double taxation of business income inherent in a corporation, the cost of doing so was to
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