Choosing the right business structure is critical. It is also very PERSONAL. There are liability, compliance and tax considerations that must be contemplated when making this choice. This is why you should not do it alone and why you MUST have a competent professional that specializes in these areas to assist you. For example, there
All that glitters is not gold!
We are regularly contacted by budding entrepreneurs that are pretty “long” on ideas but a bit “short” on money. A number of them have shared their ideas with others and in turn, get leads for funding. In some cases, the opportunity for an investor arises. This is the golden ticket, right? Not so fast. Outside
Signs of the times…
You have leased a new building for your business. One of your tasks is selecting a new business sign for opening. There are a few LED and Digital options that are attractive to you. You plan to select the sign and have it installed by week’s end. That easy, right? Not so fast. Every municipality
The “Born” identity: Assumed Names
Do you want to abbreviate your company name on your advertising materials? Do you want to transact business under another name without forming a new entity? Both are feasible under Michigan law, but you must make sure to follow the right steps! First, the law requires that you file a Certificate of Assumed Name for
The way out…
It has been a while since we have discussed the importance of the “business prenup”. With life always comes change. So, we want to take the opportunity to revisit. Do you know what will happen to your business if your partner leaves the business or passes away? What about if you become disabled? Most business
You’re interested in opening your physical location for your food catering business. You found the perfect space, the lease seems straightforward and the landlord appears to be honest and fair. There is some work to do in the space, but it won’t be too costly. You sign the lease for the building and your equipment
Think before you act!
You have the opportunity to open a physical location for your business. How exciting! We hate to play Debbie Downer, but when making significant decisions like this, you must consider what can happen in the worst-case scenario. This is prudent and necessary as a business owner. One of the factors you need to consider is
It’s 2017 Annual Statement time!
This week’s tip is a reminder to all limited liability companies and professional limited liability companies. Your annual statements and reports must be filed with the Corporations Division of the Department of Licensing and Regulatory Affairs by this Wednesday, February 15, 2017. Please be sure to timely submit your filings so that your business remains
You don’t have to touch the stove to know that it’s hot!
It’s that monster rearing its ugly head again: employee misclassification. We have discussed this problematic concept before and constantly caution our clients to avoid it at all costs. Studies show that an estimated 3.4 million employees are classified as independent contractors, when they should be reported as employees. In 2009, it was reported that misclassification
Small Business Matters: Eyes Wide “Shut”
We often discuss the dangers of small business owners unwittingly neglecting important matters that can ultimately make or break their businesses. Many business owners have tunnel vision when it comes to driving the bottom line. When this happens, they run the risk of missing an exit and detouring to hazardous terrain. For this week’s tip,
All’s well that ends well
Thinking about launching that business with a partner? Or is there already an existing business that you have been offered ownership in? Either way, one of the most important documents you will need is a Buy-Sell Agreement. Affectionately termed a Business Will or Business Prenup, this document (or sometimes a section within a larger legal
The C&G Quarterly: Finale Edition
As we prepare to close out another year at C&G, check out the Finale Edition of the C&G Quarterly! Thanks for staying in the know! Click HERE to read the Edition! **Please be sure to read the disclaimer section on our site!
Deal or no deal?
You’ve been given an opportunity to partner with four other people in a growing venture. The venture is operated by a Manager-Managed LLC. You only know one of the members, who is not one of the appointed managers. If you put up $5,000 in cash, sweat equity drawing on your expertise and sign the operating
Tis’ the season- Make your list and check it twice!!
Business owners!! It’s that time again! Now that you are nearing the end of another year, it’s time to take a look at your records and assess what needs work. There are certain records that are industry and business-entity specific, but there are some records that EVERY business should maintain properly: organizational documents, accounting and
Civic Duty = Work Duty?
For this week’s tip, we are sharing an interesting piece we came across in Crain’s on small business owners giving their employees time off to vote. At the culmination of a highly charged election season in our country, several business owners see the value in encouraging their employees to vote. While Michigan is not one
Dodging the bullets…
Did you know the most common lawsuits filed against small businesses are employment related? Most times these suits center on claims of wrongful termination or discrimination. So, what if anything, can you do to dodge these bullets? The reality is that there is no foolproof plan. There is nothing that will give you an absolute
The “Z” Word
This week, we are re-sharing a VERY important tip on zoning. For those business owners starting out at home, looking to open a second or third location, transitioning from home-based to a store front- beware! Before you order equipment, sign that lease or purchase agreement, make sure you can operate your business where you intend
SMALL Business- BIG Problems
Small business owners often make the mistake of failing to consider employment/ labor laws that apply to their businesses. While there may be some federal and state laws that apply to businesses with a certain number of employees, there are others that apply to ALL: even if you only have ONE. Think: Workers’ Compensation, Independent
Changes to overtime pay…the clock is ticking!!!
We’ve been keeping you updated as the new overtime rules adoption process has evolved. Well, it’s official… December 2016 will bring about major changes concerning overtime pay and exempt employees! Click HERE to read this Fox Business piece on how the rules will affect you! Questions or concerns? Contact C&G today! P: 248-395-3699 E: firstname.lastname@example.org
Check out the C&G Quarterly Newsletter!!!
It’s here! The C&G Quarterly: Spring Edition! In this edition, you will read about what’s in the works at C&G, a few key pieces of legislation that will impact a number of us and learn about the winner of our Client Spotlight. Hurry! Click here to check it out! *Please be sure to read the
Looking for tips on how to grow your small business?
Take a look at this informative piece we came across!! Recently, Patrick Schwerdtfeger, an author, speaker and expert on global business trends, discussed the “thinking big” mindset during a workshop for local entrepreneurs at TechTown Detroit. Michelle Pluskota, Vice President of Business Services for Comcast’s Heartland Region, attended the workshop and compiled a list of