In this issue:
Ray H. Littleton and Sydney Steele
While no one wants to be a defendant in a civil lawsuit, it is important to know exactly what to do when served with a Summons and Complaint.
Jean G. Schtokal
The COVID-19 Pandemic has wreaked havoc on supply chains. Supplier changes that are usually planned over years are taking place over months or weeks. Whether you are the Buyer or Supplier, here is a bullet by bullet checklist to help both parties reduce risk:
As PPP (Paycheck Protection Program) Loan Applicants await for banks to open their portals and begin accepting forgiveness applications, Foster Swift Business & Tax attorneys Taylor Gast and Mike Zahrt discuss recent updates regarding applications along with answers to common questions to consider regarding the next steps in the loan process...
Amanda J. Dernovshek, Julie L. Hamlet and Mindi M. Johnson
What is a pre-approved plan?
An employer that sponsors a qualified plan (including a 401(k) plan) may choose between adopting an individually designed plan or a pre-approved plan. A pre-approved plan is a plan document that has been submitted by a third party (the “Document Provider”) to the IRS for approval before it is adopted by an employer.
The Document Provider is often a legal or financial organization, such as a law firm, third party administrator, or insurance company. Over the last several years, the IRS has made efforts to encourage employers to use pre-approved plans in order to promote compliance and administrative simplicity...
Taylor A. Gast and Cody A. Mott
On August 26, 2020 the Securities and Exchange Commission (SEC) adopted amendments to Rule 501(a) of the Securities Act that expand the definition of “accredited investor” to include additional categories of investors who may invest in unregistered private offerings. This amendment is intended to provide greater access to private investment markets. The amendments become effective 60 days after the new rule is published in the Federal Register...
Foster Swift International Law attorney Jean Schtokal, recently sat down with Automation Alley's Noel Nevshehir, Director of International Business Services and Global Strategic Partnerships to discuss the impact of COVID-19 on trade missions and conferences.
The video discusses the benefits and potential drawbacks of using video conferencing in international trade missions rather than face to face in-country meetings...
With Election Day fast approaching on November 3, be sure to visit Foster Swift's Election Law Blog at michiganelectionlaw.com. This new blog page is meant to address election and campaign finance law topics, questions, and concerns.
Many of the laws in this area are very nuanced and simple mistakes like linking to the wrong website or incorrectly using the ‘magic words’ can result in a fine or punishment. The blog seeks to expand readers’ understanding of campaign and election laws, which in turn will help them better navigate and participate in the democratic process – whether as a candidate, committee, municipality or other public body, non-profit, or for-profit business.
With roughly 2.5 million Baby Boomer business owners looking to retire in the next decade, now is a critical time for putting together a succession strategy for businesses looking to pass on to the next generation.
Foster Swift Employee Benefits attorney, Mindi Johnson, recently sat down with Gary Rose, Founder of Blue Sea Advisors Network to discuss how ESOPS (Employee Stock Ownership Plans) can be an effective strategy for business owners looking to transfer ownership in succession.
Foster Swift Collins & Smith, PC E-Newsletters are intended for general information for our clients and friends. This newsletter highlights specific areas of law and is not legal advice. The reader should consult an attorney to determine how this information applies to any specific situation.
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