When you don’t pay taxes, the Internal Revenue Service and state look at it as if you’re holding their money on loan. And they charge big-time interest and penalties.

The late-payment interest rate for the IRS is 4 percent. On top of that, there is a penalty for failure to pay -.5 percent for each month the tax is not paid in full, says Patrick Murphy, a tax attorney and CPA at Danna McKitrick in St. Louis.

“While these amounts may not sound like much, it really does add up quickly,” Murphy says. “And I have seen numerous occasions where a taxpayer actually owes as much in interest and penalties as they owe in actual taxes.”

“Another area where people get into trouble is when people don’t remit payroll taxes when they are due: They spend it,” Murphy says. “It doesn’t affect the paralegal or the receptionist, but the owners of the firm can be held personally liable.”

Read news story… Missouri Lawyers Media (Dolan Media Newswire)

The recognition is for attorneys who play an active and necessary role in many facets of entrepreneurs’ businesses. It recognizes attorneys who have proven their dedication to the success of small businesses in St. Louis, according to the magazine. The Top Small Business Lawyer recipients are selected by the magazine’s readers.

Binger said she provides small businesses with advice to help them achieve their goals.

“I know how difficult it is to navigate competing business priorities and grow a small business at the same time. It is my job to give wise legal counsel so my clients grow and prosper,” Binger said.

She also provides her clients with advice on intellectual property law, employment and labor law, as well as aspects of corporate law regarding structure and governance of businesses, contracts, licensure, franchise, confidentiality, distribution consulting and joint venture agreements. Binger is a member of the Commercial Panel of Arbitrators of the American Arbitration Association and is qualified as a neutral third party to resolve disputes between businesses. She also is active in the community helping not-for-profit organizations.

Download Binger Top Lawyer media release (PDF)

…with its focus on health reform and little time left this year to debate a permanent estate tax change, Congress is more likely to find a temporary solution. Most estate planning attorneys say they expect key components now in place to remain — including exempting the first $3.5 million of estates from the tax, but levying a 45 percent tax on values over that amount.

“There’s not enough time to debate any significant change, so there will be a patch,” said Patrick Murphy, an accountant and estate attorney…

Read news story… St. Louis Business Journal

St. Louis, MO – Nov 25, 2009 – James C. Morris has joined Danna McKitrick, P.C. as an associate. Prior to joining, Morris practiced law and owned and operated a ready-mix concrete company, as well as co-owned a real-estate development company.

Morris’ litigation background includes defending complex coverage claims made against casualty and liability insurers. He handles workers’ compensation, catastrophic injury, wrongful death, premises, property, and product liability claims, as well as other commercial disputes through trial or negotiated settlements.

“Jay brings several years of significant litigation experience in addition to his business background to the firm, which will provide our clients additional insights to meet their needs. His firsthand experience as a small business owner offers a fresh perspective that many of our clients will welcome. In defending workers’ compensation cases, Jay combines his insurance defense knowledge with his experience in working with small business owners. We look forward to his work in our corporate and litigation practices,” said Dan Tobben, a principal with Danna McKitrick.

In addition to his litigation background, Morris helps clients in the formation, growth and exit strategies of their organizations. Much of his legal work includes mergers and acquisitions, contracts and operational counsel as well as risk mitigation.

“I chose Danna McKitrick because of the diverse practice and its broad base of clients. That combination enables me to bring a variety of my experience to the table to help those clients,” Morris said.

Prior to joining Danna McKitrick, Morris began his legal career with another St. Louis law firm defending claims of catastrophic injury, wrongful death and workers’ compensation, as well as premises and product liability. He also spent time in Alabama, where he was a sole practitioner and general counsel for a concrete company. After returning to Missouri, he founded a concrete business which he later sold.

Morris graduated from University of Alabama School of Law in 2001 after receiving a B.A. from Spring Hill College in 1997. He is admitted to practice in Missouri, Alabama, U.S. District Courts in the Eastern District of Missouri and Southern District of Alabama, and the Missouri Court of Appeals, Eastern District.

He is a member of the Missouri Bar, the Alabama Bar, and the Bar Association of Metropolitan St. Louis.

About Danna McKitrick: Located in Clayton, Mo., Danna McKitrick, P.C. delivers legal representation to businesses (emerging to national), insurers, government-related entities, and individuals throughout the Midwest. To supplement its local resources, the firm is a member of MSI Global Alliance – an international association of over 250 independent law and accounting firms in 100 countries. www.dannamckitrick.com.

St. Louis, MO – Nov 9, 2009 – Law firm Danna McKitrick, P.C. today announced the addition of a new associate to its Clayton office. David Binder has joined the firm following a two-year period as a law clerk with the firm.

Binder works primarily in the areas of corporate, real estate and public pensions. He also has a strong background in tax and intellectual property, and has gained both transactional and litigation experience while at Danna McKitrick.

“We are pleased to add an associate with such excellent academic credentials, combined with experience at the firm, who can strengthen our presence in the corporate mergers and acquisitions, as well as tax areas,’ said Cheryl Beebe-Snell, a principal with Danna McKitrick.

Binder’s other practice areas include, emerging business, financial institutions, manufacturing and distribution, transportation and trademarks.

“I believe that Danna McKitrick is a firm of the highest integrity and has many professionals who are outstanding in their primary areas of practice. I look forward to continuing to work with and learn from my colleagues,” Binder said.

Binder graduated magna cum laude from Washington University School of Law in 2009 and holds a B.A. (summa cum laude) in finance and economics from St. Louis University in 2006. He is a member of the Missouri Bar Association and the Bar Association of Metropolitan St. Louis. In addition, he was co-author of “Missouri Shared Work Program: A Unique Opportunity to Reduce Employees’ Hours While Still Qualifying Them for Unemployment.”

About Danna McKitrick: Located in Clayton, Mo., Danna McKitrick, P.C. delivers legal representation to businesses (emerging to national), insurers, government-related entities, and individuals throughout the Midwest. To supplement its local resources, the firm is a member of MSI Global Alliance – an international association of over 250 independent law and accounting firms in 100 countries. www.dannamckitrick.com.

St. Charles, MO. — An attorney in charge of the Danna McKitrick law firm’s St. Charles office has received an award for community leadership. Jim Borchers, a principal with Danna McKitrick, was chosen to receive the 50 Over Fifty Community Shapers Award by the St. Charles Business Magazine.

The award is presented bi-annually to individuals who have a proven track record of doing amazing things in their personal and professional lives, according to magazine publisher Laura Powell.

Powell noted that the award is given only to the best of the best in Saint Charles County.

“The judges were overwhelmed by the number of deserving candidates, their accomplishments, and the outstanding contributions each honoree has made towards a better St. Charles County,” Powell said

“I believe that St. Charles has many dedicated business leaders and I am truly honored to be recognized as one of them by St. Charles Business Magazine. Danna McKitrick is proud to be part of the St. Charles business community,” Borchers said.

About Danna McKitrick: Located in Clayton, Mo., Danna McKitrick, P.C. delivers legal representation to businesses (emerging to national), insurers, government-related entities, and individuals throughout the Midwest. To supplement its local resources, the firm is a member of MSI Global Alliance – an international association of over 250 independent law and accounting firms in 100 countries. www.dannamckitrick.com.

Like any other service provider, law firms are feeling the passed-along pain of their clients during the economic downturn.  But in a strange kind of  judo, midsize firms seem to be weathering the storm better than the industry’s behemoths or its boutique firms…

“We brought on three new lawyers this year,” said Ruth Binger… “[and] are doing great vis-a-vis what’s going on in the market.”

Read news story… St. Louis Business Journal

“I believe we have the best justice system in the world, but it takes a lawyer to access it, which is why it’s important for the legal system to take on pro bono work,” [Glick] said….

In court, he dedicates time helping homeless and other low income residents of the area, regularly representing them in court proceedings….

Glick said the best legal fee he ever collected was a plate of cookies from a pro bono client he kept from losing a home.

Reuben Shelton, president of the board of directors of legal services, called Glick an invaluable resource, in terms of the time, talent and efforts he donates.

“He’s always been willing to give of himself, taking on a heavy commitment of time without hesitation. He’s done so much for the community, no doubt about it,” Shelton said.

Not having had the opportunity to see the article prior to publishing, Tom wished to comment that LSEM thoroughly appreciates and values all types of contributions, including monetary ones. And in his remark about budgets, he was definitely referring to another of his own responsibilities–comparing board-level budget work to legal representation, he personally finds the legal work more rewarding, but both efforts are important to the success of an organization like LSEM.

Read more… Suburban Journals

The Missouri Supreme Court, which ultimately decided the case, ruled in 2007 that the city was required to make the full payment and ordered the city to pay a total of about $210 million into the three funds to make up the difference.

Dan Tobben, one of the attorneys who represented firefighters and police in the case, has since been hired by the Springfield police and fire associations and has warned that the Queen City could face a similar lawsuit if its funding shortfall isn’t addressed.

Read more… Springfield News Leader

“In Missouri, there are no cases that discuss the specific performance of assigning historic tax credits to a party,” Weinstock said. The St. Louis County judgment found that J & J Builders could pursue assignment of the tax credits through the Missouri Department of Economic Development.

Read news story… St. Louis Business Journal