· An unpaid wage attorney can also analyze your chances of succeeding in any of the aforementioned possibilities, as well as the costs associated with each. You and your attorney will talk about how much money you may get in damages and how much money you’d have to spend in legal costs to pursue those damages. Attorney’s fees
As an employee in New York, you have the right to be paid the minimum wage, and 1.5 of your regular pay rate for overtime. The minimum wage in New York ranges from $11.80 to $15 (depending on the county), which is significantly higher than the federal minimum wage ($7.25). The Fair Labor Standards Act and most state wage laws require timely and ...
If you're asked to review an income statement and you're not sure where to start, here are a few things to do:Check all the math. ... Find the bottom line. ... Look at the sources of income. ... Look at the expense categories. ... Now look at the amounts: What are the biggest expenses? ... Compare year-over-year numbers.More items...
Income Statements. An income statement is a report that shows how much revenue a company earned over a specific time period (usually for a year or some portion of a year). An income statement also shows the costs and expenses associated with earning that revenue.
[Ordinarily the information would include the following: (1) the nature of the litigation, (2) the progress of the case to date, (3) how management is responding or intends to respond to the litigation (for example, to contest the case vigorously or to seek an out-of-court settlement), and (4) an evaluation of the ...
Financial reporting is expected to provide information about an enterprise's financial performance with a focus on the financial position, earnings or income, and the cash flows or how cash is utilized during a period. Financial reports are useful for making business and economic decisions.
The most important financial statement for the majority of users is likely to be the income statement, since it reveals the ability of a business to generate a profit.
Revenues, Expenses, and Profit Each of the three main elements of the income statement is described below.
How to write a demand letterEstablish facts. Don't assume everyone knows the facts. ... Refer to evidence. If there's evidence (like a contract), you don't need to include it, but you should refer to it. ... Make a demand. Be specific as to what you want. ... Set a deadline and establish method of payment. ... Offer a consequence.
The reality is that if communication is ignored, the party who received the letter can be fairly certain that they will end up in court. Doing nothing is identical to telling the other lawyer “take me to court.”
Bottom line: you should generally not expect a demand letter to yield a quick and effective resolution, except in the rarest of cases where the stars align (enormous damages, clear liability, and reasonable defendant and opposing counsel on the other side).
Having a basic knowledge of accounting concepts empowers lawyers in their practice, allowing them to better understand the full picture of legal matters they work on that involve elements of accounting or finance.
“Every lawyer needs to go beyond the primary legal knowledge and skills they have, to acquire relevant financial skills. This will help them significantly improve their legal practice, they have to build competencies in financial management to aid their professional performance.”
The results indicate that the most important skill an aspiring lawyer can acquire is the ability to analyze financial statements. Other skills ranking near the top were understanding financial markets, business strategy, and industry analysis.
You need an unpaid wage attorney to help you decide if your wage claim is worth pursuing. And recover your underpaid compensation at departure.
An employee can frequently sue their company if they break wage and hour laws. However, in many cases, the employee may have alternative choices. In some jurisdictions, for example, you can submit a claim for unpaid wages against your employer to the state labor department, which will hold a hearing and give a decision.
You may be responsible for costs associated with a lawsuit or other legal action in addition to attorney’s fees. Filing expenses, deposition fees, expert witness fees, and so on are examples of these charges. Also, request that the attorney provide you with a breakdown of these charges.
It’s worth your time and money to meet with an attorney and obtain a thorough appraisal of your prospective legal claims, including the avenues of recovery, the damages you can recover, and the fees and charges you’ll incur if you pursue a claim.
One of the most common ways for wage-and-hour lawyers to help workers recover unpaid wages is by sending pre-suit demand letters. This letter is a request that your employer has his or her lawyer contact your lawyer to discuss a potential claim settlement (before you file a lawsuit in claims court).
Once your claim is filed, you will be a prosecutor in that lawsuit and will have to comply with certain arbitrator’s or court rules regarding discovery, which includes preserving and (potentially) producing documents to your employer. It’s the part of the case in which both sides get to collect statements (from the opposing sides and its witnesses) and evidence. Typically, workers are asked to provide documents they have from their employment (such as work schedules or pay stubs), and to provide estimates and information regarding the wages they claim are unpaid.
They need to know about your job duties, work schedule, important policies maintained by the employer, and the amount of pay you have received to be able to assess how to pursue your claims. Gather and bring all the documents that prove your employer willfully violated the FLSA and give them to your attorney to review them.
As soon as you suspect that your employer is violating employment laws, you should consult with an experienced unpaid wages lawyer. The laws contain various nuances and exemptions that you may not fully understand without the guidance of a professional.
The minimum wage in New York ranges from $11.80 to $15 (depending on the county), which is significantly higher than the federal minimum wage ($7.25). The Fair Labor Standards Act and most state wage laws require timely and regular wages. If your employer failed to adhere to state or federal requirements, you may be owed wages and can recover them (along with liquidated damages and attorney fees and costs). While there are employees who are exempt under New York’s overtime law (such as certain computer workers, professionals, executives, and others), most employees are entitled to overtime compensation for their performed work.
The jury decides which side is telling the truth. If you win the trial, New York’s employers must pay you what you deserve, but the work may still not be done. In too many cases, employers hide assets and refuse to pay, while some use the protection of bankruptcy laws to remove their liability to you.
Most of the cases eventually settle, as the named plaintiffs and their unpaid wage lawyers negotiate a settlement amount.
A lawyer can help you determine whether a lawsuit is worthwhile in your circumstances and advise on the strength of your legal case. They’ll have helpful insights on the law governing your case. They can also give you insights into what court to file a lawsuit with based on the specifics of your situation.
Suing for non-payment of services involves making a formal demand for payment, filing a lawsuit and seeking a judgement in court. The process of suing a client for a past due invoice can be costly ...
If you still don’t receive the money owed for your invoice after sending a final demand for payment, it’s time to evaluate whether it’s worthwhile to sue your client for non-payment. The costs associated with a lawsuit can be high and it can also be time consuming to pursue litigation.
A statement letting the client know they’re in default on the invoice payment. The total amount owing for the invoice and any additional late fees that have accumulated. A request for payment by a certain date for the full amount owing on the invoice. An advisement that you may pursue legal action if the invoice isn’t paid by the deadline.
A final demand for payment should be a formal letter that includes the following: A statement letting the client know they’re in default on the invoice payment.
If the client is in danger of filing for bankruptcy or doesn’t seem to have enough money and assets to pay you back for what you’re owed, you might want to consider selling the debt to a collections agency instead of going through with a lawsuit.
So, for example, if you win your case, the judge will probably rule that your client has to pay you the cost of your court fees, in addition to the sum they’re found to owe you for their past due bill.
Make Your Formal Demand. If you decide to take legal action for non-payment of invoices, you initiate the process with a formal demand letter to the defendant, whether it be an individual or a business, or both. If the defendant is a business, but an individual signed a personal guaranty, you can make the demand on both.
If you're dealing with a customer that doesn't appear to likely to pay you back or is on the brink of bankruptcy, instead of litigation, you may want to consider selling the debt to a debt collection agency and moving on.
Before you initiate the legal process to collect a debt, you need to make an important business decision -- is it worth the cost of litigation to pursue? As you weigh this decision, you'll need to know what your damages are and whether the customer can pay up.
Finally, during the pre-trial phase of a case, you can utilize the discovery process to not only obtain evidence supporting your claims, but also to identify and locate a defendant's assets which can help you enforce a judgment down the road.
Make Your Formal Demand 1 Identify how the customer is in default; 2 Identify how much is owed; 3 Demand payment of all past due amounts by a certain date; and 4 Advise of possible legal action.
Keep in mind that in many jurisdictions, your judgment may also include interest, attorney's fees and court costs, all of which can be part of your judgment enforcement efforts.
For example, you could apply for a writ of attachment or writ of possession to either place a lien on some of the defendant's assets or to take possession of them (if they were collateral for your agreement). This can protect your ability to collect on a judgment while also pressuring the defendant to settle the case.
If you have to go to court to get your money, you may need to show it to the judge. If your employer will not pay, try to get a lawyer to ask for the money for you. If you have to go to court to get your money, and win, the judge should make your employer pay your lawyer's fees.
You can ask your employer for your money in writing. Your demand can be by letter, e-mail, text, or fax; most employers refuse to sign for certified mail. You may want to talk with a lawyer first. Keep a copy of your demand. If you have to go to court to get your money, you may need to show it to the judge.
Whether you were fired, laid off, or resigned, your employer must pay you all amounts due, either by the next regular payday, or no later than 15 days after your last day at work, whichever is first. You are due all wages, earned vacation pay, and any other amounts your employer has agreed to pay you or you are entitled to by your employer's policies. You can find this law in Louisiana Revised Statutes, Title 23, at 23:631. These laws are in most libraries.
Make sure you keep a copy of the demand letter for your records in a safe place. Keep proof of when and how your mailed the letter. If you use a Proof of Mailing Receipt from the Post Office, keep that in a safe place. If you use Certified Mail, keep your Certified Mail receipt in a safe place.
Some employers take out more money from a last paycheck, saying money is owed for breaking or taking something, or for another reason. This may or may not be legal. You should speak with a lawyer if you do not agree with it. My employer has not paid me on time.
These should include when to send invoices, how long descriptions should be, what types of expenses must be included on bills and what should be written off, and any standard introductory communications on bills, if needed. 2. Write out the flow of your law firm’s billing process.
It’s helpful to ask lawyers to use a specific system, such as your legal practice management software, to conduct reviews electronically. This helps speed up the process and leaves less room for error; you can even use automation software.
Billing is critical to the success of your law firm. And yet, for many law firms, billing clients and chasing down payments can still be one of the most time-consuming, repetitive, and dreaded parts of the job.
With the right system, you can send out bills and reminders quickly, so there’s no reason to put off billing your clients. Sending out smaller bills consistently can lower the shock of a large unexpected bill. Plus, there’s the added benefit of encouraging a smoother cash flow for your firm.
To keep your billing process on track, you should keep a close eye on outstanding balances, payments, and revenues. The following reports can help you monitor your law firm’s financial health and keep your billing process running smoothly:
Your law firm’s billing policy. To save your law firm valuable time and money, having a clear, standardized law firm billing policy in place is essential. It gives lawyers and staff something to refer to and keeps everyone in sync. If you’re writing a policy for the first time, you’ll want to consider:
Good billing comes down to clear communication with clients. A bill isn’t just an invoice: It’s a tool for communicating the value you provide to your legal clients.
But if you decide not to talk to the collector, send a written request that the collector cease communication with you.
The Consumer Financial Protection Bureau issued a final rule amending Regulation F, which implements the FDCPA, to clarify how collectors may use texts, emails, and use other forms of digital communication, like social media, to contact you.
If the debt that the collector is calling about is several years old, find out what your state's statute of limitations is for filing a lawsuit to collect the debt.
More importantly, by knowing what to do and say when a debt collector calls, you can avoid making a mistake that could put you at legal or financial risk. First, you should decide if you want to talk to the collector. If so, be sure to keep a record of what you and the collector discuss.
If you need help dealing with an aggressive debt collector, figuring out what option is best for handling your debts, negotiating a settlement, or responding to a lawsuit for nonpayment of a debt, consider consulting with a lawyer. Once you've hired a lawyer, under the FDCPA, a collector must talk to your attorney only—not you—unless you give permission to contact you or your lawyer doesn't respond to the collection agency's communications.
But debt collectors often violate the law while trying to get money out of people. If you know your rights, you'll be able to tell when the debt collector is crossing a line into illegal territory, and you won't be intimidated by unlawful tactics. You might even be able to use the debt collector's violations of the law to your benefit.
Don't give a collector any personal financial information, make a "good faith" payment, make promises to pay, or admit the debt is valid. You don't want to make it easier for the collector to get access to your money, or do anything that might revive the statute of limitations.
If you quit, and gave your employer 72 hours of notice, you are entitled on your last day to all wages due. If you quit with less than 72 hours of notice, your wages are due within 72 hours after you notified your employer that you will be quitting (California Labor Code Section 202). If your employer willfully refuses to pay you within these time limits, it may have to pay you a penalty for each day that your wages are late, for up to 30 days. (Government employees are not covered by this rule.) Claims for late final pay are filed with the “Labor Commissioner” (California Department of Industrial Relations, Division of Labor Standards Enforcement).
Because there is such a fine line between what is legal and illegal, many employers have adopted a policy not to provide any information other than the dates of employment for former employees. Although these policies are widespread, they are not actually required by law.
Executive or Administrative employees are exempt from overtime pay only if, at least 50% of the time, they perform intellectual, managerial, or creative work that requires independent judgment on matters of significance.
Intolerable working conditions (such as safety problems, harassment, or significant demotions or pay cuts).
The “good cause” standard for quitting a job can be difficult to meet. The following circumstances are considered to be “good cause” to quit a job: Domestic reasons (leaving your job in order to maintain a marriage or family situation);
There may be an “implied contract” if you have a reasonable expectation of continued employment (usually based on lengthy employment, promises of job security, continued promotions and positive performance evaluations); in retaliation for enforcing your own legal rights (such as filing a claim for unpaid wages);
If you apply for a job and your former employer is contacted for a reference, that employer is legally able to say bad things about you or your work performance as long as the employer’s comments are truthful. On the other hand, your former employer cannot knowingly give false information about your work performance to try to prevent you from getting a new job. (California Labor Code Section 1050). Also, your former employer can give his opinion about your work performance (such as “he was unreliable”) but cannot provide false factual statements (such as “he was stealing”). Because there is such a fine line between what is legal and illegal, many employers have adopted a policy not to provide any information other than the dates of employment for former employees. Although these policies are widespread, they are not actually required by law.