Publications for Michael C. Zahrt
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.
Did you know you can form a valid contract for the sale of goods without ever discussing the price?
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.
A “firm offer" is an offer to buy or sell goods at a certain price that is guaranteed not to change for a certain period of time.
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.
Last year, the American Farm Bureau Federation conducted a survey of farmers with respect to Farm Data. The results of the survey revealed that many farmers are still uncertain about how their Farm Data is used and whether their data is protected. Fifty-five percent of farmers surveyed did not know whether the agreements they signed with agricultural technology providers (“ATPs”) addressed who owns collected data. Similarly, 59 percent of farmers did not know whether ATPs could use collected data to market products or services back to them.
This installment discusses bonus depreciation and other tax deductions specific to farms that are available in addition to Section 179.
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.
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 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?