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Legal Checklist for a Fresh Start in 2025

Posted by Amy S. Ingram, Esq. | Jan 13, 2025 | 0 Comments

The start of a new year is an ideal time to review and refine your legal strategy. Use this expanded checklist to ensure your business in New York is legally prepared for success in 2025:

Review Contracts and Agreements

      Update existing contracts to reflect changes in New York State law or changing business conditions.

      Assess long-term agreements to ensure they remain favorable under current market conditions and legal standards.

Update Employee Handbooks and Policies

      Incorporate changes in New York's employment laws, including paid sick leave and minimum wage adjustments.

      Ensure remote work policies comply with state guidelines on compensation and data security.

      Add updates related to workplace discrimination and harassment prevention, in compliance with New York State's expanded requirements.

Conduct a Compliance Audit

      Review adherence to industry-specific New York regulations, such as those impacting financial services, hospitality, or construction.

      Ensure compliance with environmental laws, particularly in industries where sustainability is a focus.

      Address any gaps in cybersecurity measures to meet SHIELD Act standards and prevent potential data breaches.

      Verify compliance with recent changes to New York's biometric data laws if your business collects or processes biometric information.

Plan for Tax Season

      Collaborate with tax professionals familiar with New York's state and city tax laws to understand deductions and credits applicable for 2025.

      Ensure timely submission of all tax-related filings, including quarterly estimated taxes, to avoid penalties.

      Explore potential savings through state-level incentives for businesses adopting green practices or hiring from underrepresented groups.

Evaluate Risk Management Strategies

      Assess your insurance coverage to ensure adequate protection against emerging risks, including cybersecurity threats and climate-related damages.

      Develop contingency plans for operational disruptions, such as supply chain issues or natural disasters.

      Regularly train staff on compliance and risk mitigation practices to reduce vulnerabilities.

Pro Tip: Regularly revisit this checklist throughout the year and work closely with legal counsel to stay ahead of potential legal challenges. Consistent review and proactive action can save your business time and money while reducing exposure to risk.

This information is not meant to provide legal advice nor does it form an attorney client relationship.  If you would like more information, please schedule a discovery call with a member of our team who is standing by to help take this exciting first step.

 

 

About the Author

Amy S. Ingram, Esq.

Abogada y Dueña |

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