Posts Tagged "Business Planning"

Business Litigation: Document Retention Policies

Posted by on Jun 1, 2014 in Litigation | 0 comments

Business Litigation: Document Retention Policies

We are frequently approached by company owners with the question of how long business records should be maintained.  While the answer to how long a business should keep its particular records is not an easy question, there are several considerations that should go into the decision. First and foremost the business process needs need to come first.  For example, if a business needs to reference its communications with clients or its previous designs for many years, those needs should outweigh the desire to reduce the records maintained by a business to clear out clutter. Many suggest that...

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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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Land Contracts Explained for Buyers and Sellers

Posted by on Jul 9, 2012 in Real Estate | 0 comments

Land contracts have seen a resurgence in Michigan.  In recent years the ability for buyers to obtain financing has become a serious problem for those wanting to sell their real estate holdings and those wanting to buy as well.  The inability for buyers to obtain mortgage financing to purchase property has, to some extent, resulted in the slowdown in the real estate market that has been impacting the economy for the past five years. Unique Properties Similarly, parties that own unique or non-conforming property can also have problems finding buyers that can get a mortgage to purchase the...

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U.S. Supreme Court Health Care Decision

Posted by on Jun 28, 2012 in Business Planning, News | 0 comments

For those interested in the recent decision by the United States Supreme Court regarding the health care law, we have attached a link to the decision below. National Federation of  Independent Business v Sebelius  

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Personal Liability for Certain Corporate Tax Debts

Posted by on Jun 16, 2011 in Business Planning, Federal Taxes | 0 comments

Some business owners incorporate, or form an LLC, in order to gain credibility for their business ventures.  The real reason for forming a corporation (or LLC), however, is the separation of personal assets from business debts, and business assets from personal debts.  This concept is often called the “corporate veil”.  But certain activities can pierce the corporate veil and subject the owners and managers of the business to personal liability for debts of the corporation/LLC. An unfortunate fact of life for many business owners and managers is the occasional cash-flow crunch.  Prioritizing...

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