The economy may be booming again, but many families have yet to regain their footing and are in dire need of help. The law firm of Kisling Nestico & Redick recognizes this, which is why the firm has made philanthropic efforts the cornerstone of their community involvement.
Kisling Nestico & Redick which serves northern Ohio, decided to give the students and families of Greenbriar Middle School a helping hand. It is easy to forget how difficult Spring Break can be for struggling families, since they have additional food expenses. Thanks to the efforts of Kisling Nestico & Redick 60 families will receive bags of food essentials, such as bread and fresh fruit. The donation is part of KNR Cares About Kids, a campaign focusing the firm’s philanthropic efforts on youth this year.
According to the managing partner of Kisling Nestico & Redick many kids don’t get their much-deserved chance to relax during Spring Break because their parents are stressed about having enough food to feed their children. The school’s principal, Jill Schissler, added that the donation was more than she had expected and that she was overwhelmed by the gesture of kindness. She said that the bags of perishable and non-perishable foods will be a great help to needy families in the community.
Food insecurity in northern Ohio is a major concern for Kisling Nestico & Redick. In February, team members at the law firm participated in the 16th Annual Portage Lakes Polar Bear Jump. At the event, participants plunged into an icy lake to raise money for the Akron-Canton Regional Foodbank. In 2018, the firm raised $25,000 for the food bank, a major achievement for Kisling Nestico & Redick. The event is also part of the KNR Cares About Kids program, which seeks to help Ohio youth reach their full potential.
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For quite a long time, companies have been providing their employees with stock options. However, this has not been the practice recently. According to Jeremy Goldstein, a lawyer who specializes in business practices, many businesses have resorted to this choice to save money, but this is not all. Some of the complex reasons that have made most employers take a back seat stock issuance include:
- A drop in the value of stock usually makes it difficult for some employees to execute their options
- There are huge accounting burdens that usually result from the stock options
- Employees becoming suspicious of the compensation methods
However, despite the negative effects of these options, Jeremy Goldstein notes that there are some advantages of stock options too. According to Jeremy, these options are preferred to the additional wages, equities or insurance cover as they are simple to understand and provide similar value to all employees. The other benefit with options is that they boost an individual’s earnings therefore since a person’s compensation will increase as a result of an increase in share price; the employees will be motivated to do their best. Through these efforts, the company gets to thrive and prosper.
Since most companies usually offer compensation packages to their top executives, the strict Internal Revenue Service (IRS) rules usually make it hard for them to offer these equities down to their employees. One of the main reason behind it is always the high tax burdens. Jeremy Goldstein, however, advises that companies can continue to offer these equities and enjoy the resultant benefits without necessarily suffering the negatives. This can be achieved through stock options that embrace barriers known as Knockout. Unlike their counterparts, with knockouts the moment a stock reaches a certain low, employees are able to lose them hence avoiding certain loses.
About Jeremy Goldstein
Jeremy Goldstein is an established business lawyer with over 15 years of experience in the industry. Currently, Mr. Jeremy operates a boutique law firm in New York where he provides his services to business institutions and individuals around his locality. His experience in the in the industry has helped him work and make an impact in distinguished companies such as Chevron, Merck, Duke Energy, AT&T, Verizon, and Bank One among others.
Mr. Jeremy Goldstein is passionate about the business law and shows this passion through his mentorship programs whereby he trains young adults to take up the practice later in life.
Follow Jeremy Goldstein on twitter.