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Business & Tax Law News
  
  

September 6, 2022

In this issue:

  

  

  
  

Process and Requirements of Women-Owned Small Business Certification

Amanda J. Dernovshek

The federal government, states, and some cities set aside a percentage of funding to help women-owned businesses. In fact, in 2021, the federal government set aside 5% of its annual spending for businesses that obtained a Small Business Association (“SBA”) Women-Owned Certification (WOSB).

The two main requirements that must be met to obtain a women-owned small business certification are the following:

  1. The business seeking certification is a small business (as defined by the SBA) and;
  2. The business is woman-owned and operated...

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   Amanda Dernovshek

Amanda Dernovshek

Dernovshek Email  Dernovshek Phone

  

  

  
   1099 vs. W-2   

Employee Misclassification and the Gig Economy

Cliff L. Hammond

One of the most concerning trends in employment law today is employee misclassification. Stringent labor protections put in place by the government, the increased use of of independent contractors and explosion in the gig economy means that the burden is on employers not only to classify employees correctly, but also to treat them strictly within the boundaries of the law under that classification...

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Executive Compensation and Negotiation Essentials for Women Leaders

Mindi M. Johnson

Staying competitive, especially in a male-dominated profession, can seem like a daunting task for many women.

In your discussions with your current or future employer, it is crucial to know when to approach and ask for extra benefits. These benefits go beyond standard taxable compensation. The timing and type of benefits are very fact-specific and will depend on your role and company: do your research. Understanding a company's goals and business concerns as they relate to long-term retention allows you to shape your proposition. It is also helpful when it comes to understanding your employment and compensation goals, offering a mutual benefit to both yourself and your employer.

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   Mindi Johnson

Mindi Johnson

Johnson Email  Johnson Phone

  

  

  
  

Litigation Series: Benefits of Alternative Dispute Resolution

September 14, 2022

Join us for the third and final segment of our three-part series focusing on litigation. Part Three discusses Benefits Of Alternative Dispute Resolution (ADR).

99 out of 100 lawsuits settle. In most cases, the goal is to settle sooner rather than later before attorney fees and court costs add up. Attorney and experienced mediator Fred Dilley will discuss the process of ADR, the differences between arbitration and mediation along with the benefits of using ADR to resolve a lawsuit.

Pre-register at the following link: https://bit.ly/3patyN9. In case you missed either of the previous sessions, recordings can be accessed below:

  

  

  
  

Foster Swift Overturns Multi-Million Dollar Judgment

In an opinion released by the U.S. Sixth Circuit Court of Appeals on Friday, August 12, a federal judgment involving financing disputes over the construction of an apartment complex was vacated, reversed and remanded with instruction to enter summary judgment in favor of a Foster Swift client. As part of the original loan agreement with the lender, the client had guaranteed repayment of cost overruns associated with constructing the complex.

A receiver was eventually appointed to take control of and complete the project, resulting in significantly increased costs above and beyond the original budget. The lender foreclosed its mortgage on the property and recouped the cost overruns through the sheriff’s sale and a state-court judgment but still sued to enforce the client’s guaranty. Attorney Brandon Schumacher was one of the litigators that was instrumental in overturning the $20 million judgment on appeal because the lawsuit amounted to impermissible double recovery.

  

  

Lansing

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Southfield

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Grand Rapids

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Detroit

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Holland

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St Joseph

  

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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