Blog — Family Business

Tuesday, March 23, 2010

Normally, our weekly emails provide information on various legal issues to assist our clients, contacts and other subscribers in their personal and business affairs. Today's "special edition" is somewhat different. Hopefully the following information will make you pause, reflect on life a moment and simply make your day a little brighter. My wife and I have been blessed with three great sons, one of whom is challenged with autism. While not all of us have the challenge of raising a child with special needs, we all experience disappointments and failed expectations in our lives, careers and relationships. While the following poem focuses on the experience of raising the...

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Monday, March 8, 2010

In 2008, the Michigan Court of Appeals held that a child's ability to sue for a personal injury is not impaired despite any pre-injury waivers signed by the child's parent. The case of Woodman v. Kera, L.L.C., 280 Mich. App. 125 (2008), involved a 5-year-old boy who was injured at an indoor recreation facility. The boy's father had signed a pre-injury waiver, purporting to hold the recreation facility harmless if any injuries occurred to the child. According to the Court, the waiver could not prevent the child from pursuing a lawsuit against the facility. This conclusion was based on the common law rule that a parent lacks authority to waive, release, or compromise his or her child's...

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Wednesday, February 3, 2010

The HAITI Assistance Income Tax Incentive Act has recently been enacted into law to provide tax payers who give to charities providing earthquake relief in Haiti an opportunity to deduct their tax deductible donations on either their 2009 or 2010 tax returns. Only cash contributions are eligible as opposed to contributions of property. Tax payers must itemize deductions on their tax returns in order to benefit from the Act. Qualifying contributions must be made to an organization that is assisting with the relief efforts as approved by the IRS which are listed in IRS Publication 78.

If you have questions, please feel free to contact The Penning Group.

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Wednesday, February 3, 2010

You will soon be receiving your 2010 Notice of Assessment for your Michigan real property. We pursue tax appeals both at the local Board of Review and before the Michigan Tax Tribunal.

We can help with . . .

* What to do with my assessment notice?
* When can I file an appeal?
* How do I get through the appeal process?

We can help answer these questions and more. Please contact us.

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Wednesday, February 3, 2010

In today's difficult economic climate, businesses and their owners face increase risk of being sued. Given this risk, business owners should do all they can to minimize exposure of their personal assets with respect to possible liability resulting from these lawsuits.

Typically, incorporating a business is an effective means of protecting a business owner's personal assets from exposure to claims against his/her business. However, simply incorporating the business alone will not protect personal assets if the business has not complied with the formalities and requirements that the law requires of a corporation. When a business owner neglects those requirements,...

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