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November 3, 2022

In this issue:

Year End Budgeting and Housekeeping Best Practices for Businesses
Cybersecurity Month Serves as Reminder to Take Proactive Steps
Video: What Employers Need to Know for 2023
Expungement Process in Michigan: Six Steps to a Fresh Start
Resources to Assist You in 2023

Year End Budgeting and Housekeeping Best Practices for Businesses

As 2022 comes to a close, every company and business should review certain essential elements for a smooth transition to 2023. It’s easy to get busy and overlook any of these practical steps, but failure to do so can result in unforeseen costs and risks in the coming year...

Cybersecurity Month Serves as Reminder to Take Proactive Steps

Taylor A. Gast

Whether you are the CEO of a big corporation working in the office six days a week or an analyst working remotely from home entering data, everyone is at risk of a cyber-attack. Despite the fact that all organizations, regardless of size, are at risk, few have preventative measures in place, or have even planned for how they would respond in the event of an attack...

What Employers Need to Know for 2023

Foster Swift's recent Fall 2022 Labor & Employment Law Update discussed major issues and developments that your company needs to address now. The webinar's PowerPoint slides and the recording of the presentation has been broken up by topic into the following links below to view or share at your convenience.

What Employers Need to Know for 2023:

Expungement Process in Michigan: Six Steps to a Fresh Start

Alexander S. Rusek

As we look to 2023, many are looking to right the wrongs of the past year, learn from their mistakes and leave their past behind. Expungement is legal jargon for the process of “setting aside” a criminal conviction and wiping it from one’s record. A criminal conviction can have a long-lasting negative impact on a person’s life as it will show up in background checks and can lead to difficulty finding employment, enrolling in school or applying for a loan.

Foster Swift litigation attorneys have put together the following six steps below to give you an idea of the expungement process going forward...

Resources to Assist You in 2023

Litigation Series Focuses on the Ins & Outs of Lawsuits:

What To Know If You Are Going To Sue
- Brandon Schumacher discusses some of the factors that should be considered before filing a lawsuit such as the differences in suing in a federal vs. state court and possible alternatives to filing a lawsuit.
What To Do If You Are Being Sued
- Hilary Stafford describes the steps that must be taken when you receive a Complaint and provides an overview of what to expect during the pre-trial phase of litigation.
Benefits of Alternative Dispute Resolution (ADR)
- Fred Dilley discusses the process of ADR, the differences between arbitration and mediation along with the benefits of using ADR to resolve a lawsuit.
Motor Vehicle Accidents and Your Business
- Dirk Beckwith discusses the proper steps a driver should take immediately after a motor vehicle accident has occurred along with tips to avoid making a bigger mess of the situation.

Legal Strategies for the Michigan Farmer:

Entity Selection
- Amanda Dernovshek discusses the importance of entity choice selection for farms and other agricultural operations along with descriptions of entities types and the pros and cons of each.
The Corporate Transparency and You
- Rob Hamor discusses the upcoming Corporate Transparency Act (CTA), the broadness of the rules associated with the CTA, which entities the CTA will apply to, possible exemptions for those in the Ag industry, deadlines and penalties for businesses found not in compliance.
The Value-Add Component of Auctions
- Doug Sheridan, Vice President of Sheridan Realty and Auction discusses the auction process, the importance of using an auctioneer consultant and why auctions are vital to the ag industry and succession planning for the family farm.

Cybersecurity:

Corporate Transparency Act (CTA):

CTA Resource Page
- The Corporate Transparency Act (CTA) is set to dramatically change reporting requirements for many small and medium-sized businesses and organizations with possible monetary and criminal penalties for noncompliance.

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.

IRS Circular 230 Notice: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication is not intended to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this communication.

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