Cleveland Employment Attorneys & Lawyers
Cleveland Employment Lawyers
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Legal Services Offered by Our On-Demand Cleveland Employment Attorneys
Our experienced Cleveland employment attorneys & lawyers can help guide you on how to proceed with various employee decisions such as reviewing employee documents such as contracts, agreements, policies, and handbooks, along with difficult decisions such as firing, lawsuits, claims, and complaints.
Although not every single employment contract will require legal assistance, many employment lawyers would recommend avoiding unilateral employment contracts that strongly benefit one side over the other. These types of employee contracts rarely hold up in court, yet having the funds needed to combat an issue in court can limit the employee’s options.
A confidentiality agreement and a non-compete agreement are common forms of employee contracts that one of our Cleveland employment attorneys can help customize for your business. If your business needs to fire an employee, proper measures should be taken from a business legal standpoint to ensure proper communication and a smooth transition of dismissing that employee. In any case, we suggest you connect with our employment attorneys to discuss your options.
Improve Your Legal ROI with Affordable Employment Attorneys that service Cleveland, OH.
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- 3 min read
What is a 1099 Employee?
A 1099 employee is one that doesn't fall under normal employment classification rules. Independent contractors are 1099 employees. Instead of having a permanent worker that takes direction from the company, your business would use an independent contractor who works under their own guidance.
The difference between a 1099 employee and others is usually easy to recognize. One example of an independent contractor is a painter hired to paint your home. They will not be your employee after finishing the job.
If you need a permanent employee, the 1099 distinction is not cor
- 5 min read
What are Incentive Stock Options?
Incentive stock options (ISOs) are a type of stock option typically given to key employees or management to purchase stock in the company and can result in a better tax treatment.
Incentive Stock Options vs. Nonqualified Stock Options
Other options that may be available to employees who are not considered key employees or upper management may be eligible for nonqualified stock options or NSOs.
Unlike NSOs, an ISO would be treated favorably for tax purposes. When an ISO is exercised, the employee need not claim the income. When they sell the stock, the gains are taxed as ordinary income rates rather than at capital gains rates. It is important to be aware that the tax benefits are lost if the employee who is entitled to ISOs sells the stock immediately; if they sell immediatel
- 5 min read
What Is Cliff Vesting?
Cliff vesting is the process where an employee gets fully vested on a given date. The employee receives his or her full benefits of the retirement plan on a specific date instead of in amounts over time. The "cliff" described is the date on which you become fully vested. A four-year vesting schedule with a one-year cliff is common.
Cliff vesting is the way that employees of a company can acquire full ownership of incentives or assets of the company's qualified retirement plan account on a specific, agreed-upon date, instead of over a longer period. This period cannot exceed six years. The "cliff" is usually one year in.
Companies put vesting schedules in place as a way to handle pension or retiremen
Most startup companies are created by a small group of people commonly referred to as founders. These are usually the people who have the original ideas for the new business, the technical expertise to develop the new product or service and bring it to market, and the ability to contribute the capital (or find investors who will contribute capital) needed to launch the new company.
Founders often believe they don't need to worry about compensation, benefits and other employment law issues until the company starts generating revenue or profits. (They think that's when the company will finally hire its first "real" employees.) But founders should figure out their relationship with each other (and the company) at the very beginning of the venture.