Business General Counsel

What We Do.

Posted by on Oct 28, 2015 in Business General Counsel, Business Planning, Estate Planning, Federal Taxes, Litigation, Probate, Tax | 0 comments

We are Ready to Help We are not like the “TV commercial attorneys”.  This is not meant to disparage the personal injury, disability or workers’ compensation attorneys who advertise on television, but we are in a completely different business than those lawyers.  By all means, if you are hurt in an automobile accident, give us a call.  We would be happy to refer you to an attorney who handles those matters.  We, however, will not be the attorneys representing you in those cases. Our Practice Areas So, if we are not suing for injuries, what is it we do as attorneys?  The simple answer is that...

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Ice and Snow Should Concern Property Owners

Posted by on Feb 20, 2015 in Business General Counsel, Litigation, Real Estate | 0 comments

Ice and snow on publicly accessed property should be of concern to property owners. A decision in 2014 by the Michigan Court of Appeals brought clarification to what has been known as the open and obvious doctrine which applies to parties that are injured when on the property of another.  With certain exceptions, the open and obvious doctrine held that a party cannot collect for damages when they are injured as a result of a property defect that was “open and obvious” to that individual.  For example it would be difficult to collect for injuries sustained when one steps into a...

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“It’s Just Boilerplate…”

Posted by on Jan 28, 2015 in Business General Counsel, Business Planning | 0 comments

“I just want the agreement simple…leave out the boilerplate”…or “I’m not worried about that part of the contract, it’s just boilerplate”. If I had a nickel for every time I’ve heard these statements from a client…well, I’d have a lot of nickels.  The problem is that the boilerplate is, more often than not, the part of the contract that resolves disputes between the parties, and the part of the contract that becomes the most important if there is ever litigation between the parties. Asking an attorney to leave out the...

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12 Rules for New Businesses

Posted by on May 3, 2014 in Business General Counsel, Business Planning | 0 comments

Info for New Businesses Below is a recently posted video from Entrepreneur magazine about Mark Cuban’s 12 Rules for a Business Start up. It is certainly good viewing for those who either are starting a new business or if you want to get back to basics for your own business.   We are here to help The attorneys at Penzien & McBride are available to review your situation and make recommendations regarding your legal situation or challenge.  Our firm practices throughout the State of Michigan but especially in the Macomb, St. Clair and Oakland County areas.  The attorneys can be...

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Understanding Business Loan Covenants

Posted by on Feb 3, 2014 in Business General Counsel | 0 comments

When a client of Penzien & McBride, PLLC is negotiating the terms of a commercial loan, our business attorneys sit down with the owners and managers of the client to make sure they understand what they are covenanting. We then work with management to run the current numbers and the projected future performance numbers to determine how much room for downward adjustments the business can sustain before finding itself in a catastrophic default that could end the business.

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Deducting Business Start-Up Expenses for Federal Taxes

Posted by on Dec 10, 2012 in Business General Counsel, Business Planning, Federal Taxes, Tax | 0 comments

While the decision of the U.S. Tax Court in McPartland v. Commissioner is not groundbreaking or surprising, it is a reminder to business start ups. Without going into a great deal of detail, what led to the controversy in McPartland involved a rental real estate business.  The Taxpayer purchased a property in 2007 for $10,000.  That property, as you would imagine, needed a great deal of work before it could be rented as a residence.  The Taxpayer incurred nearly $62,000 of expenses associated with renovating the home in 2007 but did not rent the home until 2010. The Taxpayer deducted the...

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