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November 8, 2022

In this issue:

Video Series Discusses Legal Issues for the Michigan Farmer
Year End Budgeting and Housekeeping Best Practices for Businesses
Expungement Process in Michigan: Six Steps to a Fresh Start
Resources to Assist You in 2023
Event: Join Us at the Great Lakes Crop Summit

Video Series Discusses Legal Issues for the Michigan Farmer

To assist with a few of the common legal dilemmas that those in the Ag industry face, the attorneys at Foster Swift are producing a series of short videos on “Legal Strategies for the Michigan Farmer”.

Be sure to periodically visit Foster Swift’s Agricultural Law practice page as videos will be continually posted as they become available. Here are the videos that have been posted so far:

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 Act 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.

Mike Zahrt

Year End Budgeting and Housekeeping Best Practices for Businesses

Business & Tax Practice Group

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.

1. Policies and Procedures

Before year’s end, review your policies and procedures. Which ones need revamping, which are due for review, and which might be missing? As you do this, consult your regulatory attorney about any changes coming in the new year that would require a policy change or a new policy altogether...

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. This statement rings true for some more than others. 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.

Past mistakes shouldn’t hold you back from having a brighter future. 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.

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.

Cybersecurity:

Join Us at the Great Lakes Crop Summit

January 25-26, 2023

Online registration is currently open for the 2023 Great Lakes Crop Summit. Foster Swift will once again be in attendance as a sponsor.

See the full agenda for further details. The Summit allows attendees a chance to:

Learn about current farm policies, markets, future trends and more.
Listen to a number of well-respected and recognized speakers.
Visit the trade show and learn about the newest technologies, products and services
Network with farmers, agribusinesses and agricultural experts from across the Midwest

This year's guest keynote speakers include agricultural consultant Damian Mason and Gregg Doud, Vice President of Global Situational Awareness & Chief Economist at Aimpoint.

Where: Soaring Eagle Casino and Resort; 6800 Soaring Eagle Blvd., Mt. Pleasant, MI 48858

When: January 25-26, 2023

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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