Blog — Family Business

Wednesday, May 23, 2012

 

What Everyone Should Know Regarding Software Piracy Laws.

image of a pirate flag with a red xIn my practice, I have encountered many situations both with individual and business clients where they received notices from software companies alleging my clients had violated software piracy laws.  These notices are no joke and not for the circular file.

My most recent experience has been with a business client who was accused of illegal and unauthorized use...

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Thursday, May 10, 2012

The Penning Group is pleased to announce the opening of its new Grand Rapids, Michigan office located at:

Penning Group's new Grand Rapids office250 Monroe NW, Suite 400
Grand Rapids, MI 49503
Telephone: 616.717.5746
Fax: 616.717.5701

Additionally, the firm has moved its Detroit area office to Novi,...

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Thursday, March 29, 2012

Avoid the Pitfalls of Joint Accounts with a Durable Power of Attorney and Living TrustMany people employ the use of joint financial accounts as a matter of convenience, such as an elderly parent placing a child's name on the parent's checking account so that checks and deposits can continue if the parent is travelling or incapacitated. There is nothing necessarily wrong with this, but many well-meaning people are uninformed about the consequences of placing a non-spouse on their...

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Thursday, March 22, 2012

Treat Your LLC Like a Business to Protect Your AssetsMany business owners form several types of business entities to hold their assets and operate different aspects of their businesses. A common strategy is to form limited liability companies to hold real estate. The operating entity, such as a manufacturing entity, pays monthly rent to the real estate LLC and this can work to keep liability of the operating entity separate from the real estate LLC. Some LLCs are formed to hold other assets, such as personal property that is leased to the operating entity....

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Thursday, March 15, 2012

The Hazards of Company Credit CardsWith all the publicity of the new protections afforded consumers with the passing of the Credit CARD Act of 2009, business owners can be surprised to learn that the business credit card in their wallet is not covered by the CARD Act. Business credit cards do not fall under the protections of the Truth in Lending Act and the Credit CARD Act of 2009. This...

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