Now You Know It Archives – Page 23 of 68

Ownership Compensation and LLCs

February 8th, 2022

One significant advantage of organizing a business as a limited liability company is the flexibility it affords. A single-member LLC can be taxed as a sole proprietorship, a multi-member LLC can be taxed as a partnership, and both single-member and m… Read More

Do You Own Your Dog? Prove It.

February 1st, 2022

For most owners, their dogs are part of the family. Under Michigan law, however, dogs (and other companion animals) are classified as mere personal property. Ownership of a car may be proven by title registered with the Secretary of State. But how do… Read More

“Vaccine or Test” Rule Blocked

January 25th, 2022

Contributor: Evan M. Chall

In November, the Occupational Safety and Health Administration (OSHA) announced its Emergency Temporary Standard (ETS) that would require employers with 100 or more employees to implement a mandatory workplace rule requiring that employees either be… Read More

Going National

January 18th, 2022

Big changes are afoot for aspiring attorneys in Michigan! Beginning in July of this year, Michigan will use the Uniform Bar Exam (UBE) instead of the Michigan-specific exam. The move will allow test-takers to apply for admission to the bar in almost… Read More

Purchase Agreement Essentials

January 11th, 2022

Contributor: Duane L. Reynolds

Because it sets forth the terms of sale and the relative rights and obligations of the parties, the purchase agreement remains the single most important document in any real estate transaction – residential or commercial. While not all purchase agr… Read More

Do Not Just 'Set It and Forget It'

January 4th, 2022

Contributor: LeClair L. Flaherty

Estate planning is not usually a one-and-done deal. The estate plan you sign today may fit beautifully now, but over time changes in the law or in your circumstances could render your plan obsolete. Here are some recent examples to illustrate my poin… Read More

A Changing (Tax) Landscape

December 28th, 2021

The IRS has issued inflation adjustments for certain sections of the Internal Revenue Code. Of interest to our estate planning clients, the federal estate exemption amount for decedents who die in 2022 has been increased to $12.06 million per individ… Read More

Big Employer “Vaccinate or Test” Rule Back in Place – at Least for Now

December 21st, 2021

Contributor: Dirk A. Beamer

Last November, the federal Occupational Safety and Health Administration (OSHA) announced its Emergency Temporary Standard that would require employers with 100 or more employees to implement a mandatory workplace rule that employees either be vaccin… Read More

Which Type of Trust Is Right for Your Estate Plan?

December 14th, 2021

When done right, an estate plan can help make certain that a person’s assets will be easily passed on to the correct people after death. Not planning properly may cause family conflict, higher tax burdens, and the excessive time and costs of pr… Read More

Notable Provisions Within New Infrastructure Law

December 7th, 2021

Contributor: Evan M. Chall

Signed into law on November 15, 2021, the $1.2 trillion Infrastructure Investment and Jobs Act (“the IIJA”) contains various provisions that may be of interest to small businesses and other employers. In a prior article, we advised that the Emplo… Read More