Time Records Required For Rental Real Estate Brokers

Attention rental brokers – there is a new Safe Harbor available for your clients to claim qualified business income that is entitled to a 20% income tax deduction set forth at 26 USC §199A and your clients are going to need your help to qualify.   

The Safe Harbor, published by the IRS as “Section 199A, Trade or Business Safe Harbor: Rental Real Estate,” treats rental real estate enterprises as a qualifying trade or business for purposes of 26 USC §199A. 

Learn how to qualify by reading the full article by Andrew Lieb, Esq. published in the New York Real Estate Journal here. 

Cash Offers on Real Estate Transactions: Option for Acquisition Mortgage Post-Closing

Buyers can pay cash at closing and reap the benefits of obtaining a loan on the property by purchasing a 90-day post-closing loan.

This can be helpful for buyers who want to make competitive cash offers, close quickly and subsequently obtain mortgage interest deduction benefits of the loan according to the IRS, Publication 936.

Read the full article by Andrew Lieb, Esq. published in The Suffolk Lawyer here. 

Suffolk County Bans Employers From Inquiring Into Applicants' Salary History

Because of the Restrict Information Regarding Salary and Earnings (RISE), Suffolk County Human Rights Law now prohibits employers from asking job applicants about their salary history. The new law is effective on June 30th, 2019.

Read the full article by Mordy Yankovich, Esq. at the Suffolk Lawyer here.

Real Tips HR: Sexual Harassment Prevention Trainings & Policies in NY

Learn what happens when NY Employers do not provide sexual harassment prevention trainings and policies to their employees. Every NYS employer must provide their employees with both an annual sexual harassment prevention training and policy pursuant to Labor Law section 201-g. It is a misdemeanor for Employers to violate the Labor Law and likely will trigger an EPLI insurance provider to disclaim coverage in a prospective sex discrimination lawsuit. Employment Experts Andrew Lieb, Esq. and Mordy Yankovich, Esq. share your risks.

Real estate salespersons must receive sexual harassment trainings - by Andrew Lieb

There are two different laws applicable to real estate salespersons and associate real estate brokers in New York City, which require sexual harassment prevention trainings. There is the New York State law and the New York City law. 

Read the full article by Andrew Lieb, Esq. published in the New York Real Estate Journal here.