Tips for Making a Solid, Enforceable Business Contract

A man may be as good as his word, but only a written business contract is enforceable in court. Should a dispute arise with a client, vendor, or business partner, having a legal contract will help your Wichita business lawyer defend you in court or seek compensation on your behalf. Here are some tips for making a solid business contract. For help drafting a clear and enforceable contract, contact your business attorney.

Keep it Simple

Filling a contract with legal jargon doesn’t make it any more enforceable than a contract written in plain English. In fact, clear sentences with simple, numbered paragraph headings will make it easier to point out any breaches of contract. Vendors, clients, and partners can sometimes hide behind the gray areas of complex contracts, so keep everything as straightforward as possible.

Identify Each Party Correctly

In order to enter into a contractually binding agreement , the contract needs to include the correct legal names of the parties involved so it’s clear who is responsible for performing the obligations and who you have legal rights against if things go wrong. If you are entering into an agreement with a business organized as an LLC or corporation, identify it by its correct legal name, not by the names of the individuals who are signing the agreement.

Don’t Leave Anything Out

Any good business attorney in Wichita will tell you to include anything that was verbally agreed upon in the written contract. If it’s not in writing, a verbal agreement will be next to impossible to enforce. In business and corporate law, judges usually only interpret a contract as it is, not from what the parties said to each other or agreed to without signing. If changes are made or need to be made, a business law firm can help make the changes legal and binding.

Benefits of a Non-Compete Agreement

Every year, businesses across the U.S. spend billions of dollars training new employees. It would be a shame if employees used this training (or the confidential information acquired during employment) to compete against the employer after they leave. This is why most businesses have new hires sign a non-compete agreement. Non-compete agreements are enforced by the courts, but usually have to be reasonable in terms of geographic location and time frame.

Watch this video to learn more about non-compete agreements and the benefits of having your employees sign such an agreement. For help drafting a non-compete agreement, contact a Wichita business attorney . Your business lawyer can also help enforce a non-compete agreement after an employee leaves. If you don’t already have a corporate attorney protecting your business interests, get one before it’s too late.

What Can and Can’t be Included in Your Property Tax Deduction?

The property tax system in the United States is incredibly complicated, and most taxpayers are unable to understand or decipher why their property taxes increase every year. Ballooning property taxes are often the result of errors and inaccuracies on the part of county appraisers, which can be addressed with the help of a property tax attorney in Wichita . Still, you’ll have property taxes to pay each year. Fortunately, that means you’ll have property tax deductions as well. Read over this brief list of items that can be included in your property tax deduction and then consult with a property attorney to handle your property tax issues.

Deductible Payments

If you took out a mortgage to finance the purchase of your home, your house payments may include several other costs in addition to paying off the loan, many of which you can deduct from your income taxes at the end of the year. You can deduct real estate taxes paid to the taxing authority, interest that qualifies as home mortgage interest, and mortgage insurance premiums. If you receive a housing minister’s or military housing allowance, you can still deduct your real estate taxes and your home mortgage interest without needing to reduce deductions based on your non-taxable allowance.

Nondeductible Payments

As many deductions as you can take, there are even more costs that you cannot deduct as part of your property tax deductions . You cannot deduct insurance, including fire and comprehensive coverage. Depreciation is also not deductible, at least not on an individual tax return for private property. The cost of utilities such as gas, electricity, and water cannot be deducted, nor can most settlement costs or forfeited deposits or down payments. Contact a property tax attorney in Wichita for help maximizing your property tax deductions this year.

Filing a Property Tax Appeal in Kansas

According to the National Taxpayers Union, approximately 40% of tax appeals in the U.S. result in a reduction. That’s because ad valoreum valuation and assessment systems are an inexact science

and county appraisers are prone to mistakes just like anyone else. If you are appealing the valuation or classification assigned by your local county appraiser, you will need to file Equalization Appeal Forms (provided by your county appraiser along with the county’s hearing result letter) and a Payment Under Protest Form. A filing fee is assessed for property tax appeals except those involving single-family residential properties.

A Wichita property attorney can help with your property tax appeal, including informal appeals at county-level and state appeals. As the former Chairman of the Kansas Real Estate Appraisal Board, property attorney Scott B. Poor has the skill set and knowledge to make sure that your property’s valuation and assessment is fair.