When you first form your corporation, it comes into existence as a C Corporation. If you do nothing more, your corporation will remain a C Corporation. A C Corporation becomes an S Corporation only when special tax treatment is sought by filing Form 2553 with the IRS. http://www.irs.gov/pub/irs-pdf/f2553.pdf Although a small business lawyer can… Read More »
Blog Posts Page 6
The Survey Says: NY a Winner in the High Cost of Long Term Care
In this survey, New York “only” comes in fifth in the country on the list of most expensive annual cost for a private room at a nursing home. The survey is using median rates, and also averaging the cost of nursing homes throughout New York State. On Long Island, the cost of a semi-private room… Read More »
Broadway Roars: Autism Friendly Performance at Lion King
Broadway is becoming autism friendly! The Theater Development Fund (TDF) has started a new program known as the Autism Theater Initiative to make theater more accessible to children and adults on the autism spectrum and their families. The Lion King has been chosen as the first ever Broadway autism-friendly play with a special performance… Read More »
Desperate Parents Try Desperate Measures
The Judge Rotenberg Center, a special needs school in Massachusetts that receives much of its funding from New York State, is back in the center of controversy again. The Center is the only school in the nation that uses aversive therapy such as skin shocks as behavioral modification on its students. Many of the… Read More »
The R Word: Tracy Morgan: Oops!…I Did it Again
In the latest incident of a celebrity using the “R” word, Tracy Morgan, fresh from his apologies over making anti-gay remarks, made “jokes” about “young retarded males” during a recent comedy appearance. It was reminiscent of Jenifer Aniston’s description of herself as “retarded” on the David Letterman show. The New York Times reported Morgan’s gaffe… Read More »
Big Banks Exit Reverse Mortgage Market
What is a Reverse Mortgage? Seniors (you must be over age 62) can tap the home equity in their homes by obtaining a reverse mortgage in either a lump sum or multiple payments. The homeowner is not obligated to repay the loan, and the payment is deferred until the homeowner dies, sells the home,… Read More »
NY to Require Insurance Companies to Pay for Autism Treatments
Via a press release issued by Chairman of the Senate Mental Health and Developmental Disabilities Committee Senator Roy McDonald: The New York State Senate today approved legislation to enable individuals with autism spectrum disorders to receive insurance coverage for screening, diagnosis and treatment. The bill (S.4005A), sponsored by Senator Charles J. Fuschillo, Jr. (R, Merrick),… Read More »
The Real Reason You Should Have Paid Attention in High School French
In a recent interview in the New York Times Science Section, cognitive neuroscientist Ellen Bialystock was interviewed about recent studies that have found that being bilingual delays the onset of Alzheimer’s symptoms by an average of five to six years. Unfortunately, the occasional use of a second language does not qualify for bilingualism. The… Read More »
The Five-Year Lookback– Frequently Asked Questions
One of the questions I am frequently asked in my elder law practice is “what is the five-year lookback?” Simply put, if you give away money or property during the five years before you apply for Medicaid, that transfer triggers a penalty period during which you are ineligible for Medicaid. How Does the Penalty Period… Read More »
Understanding Autism: It's Not Monkey Business
Teco, a young bonobo chimpanzee, is exhibiting signs of autistic behavior, according to BoingBoing. His famous father, Kanzi, uses symbols to communicate with humans. Both chimps can be found at The Great Ape Trust, a nonprofit foundation whose tag line is “Insights through Collaborations with Apes.” Researchers immediately noticed that Teco was not acting like… Read More »