Pay yourself in 2020: Write off judgments on that internal ledger
January 27th, 2020 by admin
I have been asked literally thousands of questions about the law through several venues over the years. Some of these questions are about legal judgments on the official courthouse book of record.
But the answers about courthouse judgments may surprise you.
I had a business client years ago which had appropriate protections on the money side to reduce the prospect that a single unethical employee could take money for themselves without authorization. These systems generally work well, except when the two ends of the employee protection system are having an affair.
I got involved when it came to light that these two employees had drained nearly $250,000 from the company. They both confessed, and they both went to jail. We secured a judgment against the two employees. We had no real belief that our client would ever get paid, but the matter took an unexpected turn.
The elderly mother of the mastermind died. She had not changed her will, and the mastermind inherited a large amount of money.
This article was originally written by Mike Wells and published by the Winston-Salem Journal. To read the full article, visit the Winston-Salem Journal online here.
Posted in: On the Way to the Courthouse