In the business world, change is inevitable. Companies face changes like retirements, unexpected exits, or shifts in strategy, and they must be ready for new leaders to step in. Succession planning helps businesses stay strong by making sure they keep running smoothly...
Zoning is an important thing to consider when starting a business in Michigan. In many places, there are restrictions about what kind of business can be run from home, for example. It's usually not possible to have heavy industry and residential tenants in the same...
Knowing the right considerations to base a business formation decision on is important. There are several factors that should be taken into account to decide which business structure is most ideal for your business. There are several important considerations that...
There are several types of business formations available in Michigan and each comes with rights and responsibilities that are helpful to know. Business formations are filed with the Michigan Department of Licensing and Regulatory Affairs. Business formations A...
A new business can be an exciting opportunity for a Michigan or Illinois resident to establish something of their own. Many people dream of leaving their jobs to become their own bosses, but few have the resources to make the jump into entrepreneurship. When they do,...
Whether you have just started a new business or you are currently running a successful company, you may be looking at how you can take your venture to the next level. Both joint ventures and business mergers can help enhance the power of a company. Although these...
When you own an Illinois or Michigan small business, you assume a certain amount of risk, but the amount of personal liability you take on will depend on the type of business structure you choose to create. At Pentiuk, Couvreur & Kobiljak, P.C., we understand that...
Company owners and shareholders in Michigan and Illinois are often busy at the beginning of the year preparing for the year ahead. This year, they are also likely focused on navigating how the full implementation of the Tax Cuts and Jobs Act will impact them. As...
A sub S corporation, or subchapter S corporation, is a special type of corporation that provides the security of LLCs but allows profits and losses to flow directly through to shareholders. This means that income and losses accrued by the corporation may pass through...
Entrepreneurs in Illinois and Michigan must choose how they would like new ventures to be managed and how they prefer their businesses to be taxed. A company may be established as a sole proprietorship, a partnership, a corporation or a limited liability company. Each...