Publications for Business & Tax
On Friday, October 2, 2020, the Supreme Court held Governor Whitmer lacked the authority to issue any executive orders after April 30, 2020 to combat the spread of COVID-19. In response, the Director of Michigan Department of Health and Human Services (MDHHS) issued an Emergency Order to place limitations on bars, the size of gatherings, and to require face masks in certain settings. The order is similar to previous executive orders issued by the Governor.
On Thursday the U.S. Senate passed the Paycheck Protection Program Flexibility Act of 2020 (the “Act”), and the president is expected to sign it into law. The Act loosens several of the Paycheck Protection Program’s requirements. PPP borrowers now have significantly longer to spend loan proceeds, rehire employees, and restore their wages to avoid reductions to loan forgiveness.
IRC 642(c) Plans, referred to as “Pooled Income Funds” offer unique ways for participants to utilize tax favored deferred compensation.
In May 2017, the City of Detroit announced its intention to implement a city-wide effort to enforce tougher rental ordinance rules on landlords, including demanding that rental properties be registered and brought into compliance.
Looking to enhance business productivity and performance? This article addresses the best practices involved in holding great meetings.
H.R.1, described as the “Tax Cuts and Jobs Act” (the “Act”) and commonly referred to as "Tax Reform", was signed into law by the President on December 22, 2017.
In our last installment of the UCC Corner, we questioned whether parties can form binding contracts if many of the terms of their written communications are inconsistent. We learned that the answer to that question is generally “yes.”
Will your standard terms and conditions win in a battle of forms? Do you have standard terms and conditions at all?
The Uniform Commercial Code (“UCC”) was drafted in 1958 and contains a series of articles that aim to govern commercial transactions. Nearly every state has adopted its own version of the UCC, including Michigan.
Information technology is becoming increasingly important for agribusinesses looking to improve productivity, efficiency and effectiveness. From monitoring crops, to managing workforces, agribusinesses are adopting technological solutions to gather, analyze and use information to make decisions and optimize performance.
This is a two-part series discussing year-end tax strategies available to reduce the tax liability of your business. This installment discusses the de minimis safe harbor election and bonus depreciation as two tax savings opportunities available in addition to Section 179.
Intellectual property (“IP”) rights can be the cornerstone of a business's value and competitive edge. IP rights are generally grouped into four categories: trademarks, copyrights, patents, and trade secrets.
This article is the first of a two-part series and discusses the deduction available under Code Section 179. Part 2 addresses ways the bonus depreciation rules and other farm-specific deductions can be paired with Section 179 for effective and powerful year-end tax planning.
While there is no “magic bullet” available to fix a large anticipated tax bill, there are several strategies available to businesses and entrepreneurs to turn ordinary purchases into tax saving deductions.
A recent decision by the U.S. Court of Appeals for the Sixth Circuit (the “Sixth Circuit”) may make it easier for plaintiffs to bring costly lawsuits against companies that allow sensitive data to fall into the wrong hands.
The United States is a party to a number of trade treaties with foreign countries. The E visa category was created to give effect to those treaties by providing reciprocal benefits to nationals of a treaty country.
A good warranty can also be good advertising, and the difference between customers buying your product or your competitor’s may come down to who has the better warranty. It can be tempting to give your warranty a label that sounds better than your competitors, but did you know that how you label your warranties is governed by federal law?
Two studies conducted recently resulted in data-driven articles that shed greater light on the issue of when, and why, courts accept veil piercing arguments.
Check fraud can harm your business by causing cash flow problems, burdensome fraud investigations, and even unreimbursed financial losses.
The IRS now automatically revokes an organization’s tax exempt status if the organization fails to timely file an annual information return for three consecutive years.
President Obama signed the American Taxpayer Relief Act of 2012. The Act made other lesser-known but important changes to the tax law that could affect you and your business. This article summarizes those changes.
LARA has issued a warning regarding a letter being sent to Michigan corporations asking for an Annual Minutes Disclosure Statement.
You might save on your employment taxes if your business is taxed as an "S Corporation."
Noncompetition agreements typically prohibit an employee or seller of a business to own or work for a competitor of the protected party, and often are of substantial value. However, a Michigan court will only enforce these agreements if they comply with the following four requirements.
Navigating through the risks of credit card processing