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Showing 43 posts in News.

Corporate Transparency Act: What You Need to Know Before 2024

Depressed Man with Stacks of FoldersIntroduction and Scope of New Rule

With a stated goal of countering money laundering, the financing of terrorism and other illicit activities (including those of Russian oligarchs currently under U.S. sanctions), Congress passed the Corporate Transparency Act (CTA) in January 2021 as part of the National Defense Authorization Act. In 2022, the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) began to publish rules in its efforts to begin enforcement of the CTA likely beginning on January 1, 2024. Read More ›

Categories: Alerts and Updates, Did you Know?, Employment, Legislative Updates, News

Federal Trade Commission Issues Sweeping Proposed Rule to Prohibit Noncompete Agreements

Banning Non-Compete ContractOn January 5, 2023, the U.S. Federal Trade Commission (FTC) issued a proposed new regulation that would broadly prohibit employers from using or enforcing noncompete agreements with employees, former employees, contractors, or other workers. Read More ›

Categories: Alerts and Updates, Did you Know?, Employment, Labor Relations, News

Michigan Launches “Afflicted Business” Grant Program

Businesswoman in Closed Café Due to COVIDNearly two years after the start of the COVID-19 pandemic, the state of Michigan is continuing to design new programs to help support Michigan businesses that were negatively impacted by the pandemic and resulting economic shutdowns. Beginning March 1, 2022, Michigan will distribute up to $409 million under the new Afflicted Business Relief (ABR) grant program. Eligible businesses can apply beginning March 1, 2022 through March 31, 2022. Grants are not first-come, first-serve, but instead may be prorated depending on the number of eligible businesses that apply. Read More ›

Categories: Financing, News, Sales Tax, Tax

Inspiration Arises From Disaster: A Film Project Over a Decade in the Making

Film ProductionThe ongoing pandemic has wreaked havoc on the film industry, with most theaters shut down in 2020. Even now, many blockbuster films have gone straight to streaming services.

One local filmmaker's vision began nearly a decade before the COVID pandemic. It all started with another tragic disaster, but from that disaster, a story unfolded and inspired a film project.  Read More ›

Categories: Crowdfunding, Distribution, News

Cybersecurity Impact on Small Businesses in Wake of Colonial Pipeline

In the wake of the Colonial Pipeline ransomware attack, cyber attacks such as ransomware and phishing continue to be a major threat for all businesses, large or small. Even with precautions in place, it is not a matter of "if" but "when" a business will experience an attack. In the case of Colonial Pipeline, the hackers not only demanded and received millions from Colonial Pipeline in May 2021, but the resulting ransomware attack forced the company into a fuel distribution shutdown, making headlines across the country and causing gas shortages on the east coast. The attack also compromised thousands of individuals' personal information.  Read More ›

Categories: Cybersecurity, Did you Know?, News, Technology

Recent Questions Regarding PPP Forgiveness Applications

As PPP (Paycheck Protection Program) Loan Applicants await for banks to open their portals and begin accepting forgiveness applications, Foster Swift Business & Tax attorneys Taylor Gast and Mike Zahrt discuss recent updates regarding applications along with answers to common questions to consider regarding the next steps in the loan process.

Click the thumbnail below to view the full video. 

PPP VideoThis video is meant to provide general information and SHOULD NOT BE CONSIDERED LEGAL ADVICE. If you seek legal counsel or need help in determining how this information applies to a specific situation, contact a Foster Swift business attorney before taking any action. Our attorneys can help assist you in making the best decisions for your circumstances.

Categories: Alerts and Updates, News

SEC Expands Accredited Investor Definition to Include Sophisticated Investors, Others

Investor with laptopOn August 26, 2020 the Securities and Exchange Commission (SEC) adopted amendments to Rule 501(a) of the Securities Act that expand the definition of “accredited investor” to include additional categories of investors who may invest in unregistered private offerings. This amendment is intended to provide greater access to private investment markets. The amendments become effective 60 days after the new rule is published in the Federal Register. Read More ›

Categories: Entity Planning, Entity Selection, Organization & Planning, News, Startup, Venture Capital/Funding

GDPR Has Arrived and My Company Isn't Ready. Now What?

It's not hyperbole to say that the General Data Protection Regulation's May 25th enforcement date marks one of the largest shifts in the history of privacy laws. Read More ›

Categories: Cloud Computing, Compliance, Cybersecurity, Digital Assets, Liability, News, Privacy

#Sponsored: What Social Media Influencers Need to Know to Remain Compliant with the FTC

Influencer marketing on social media is a very big business. Here’s how it works: brands team up with individuals with large and engaged followings on social media platforms such as YouTube, Facebook and Instagram (i.e., “influencers”), and pay them to promote their products. Read More ›

Categories: Digital Assets, News, Regulations, Social Media

Two Stars?! What can my Business do in Response to Negative Reviews?

Businesses are understandably concerned about negative reviews posted on popular websites such as Yelp, Facebook, and TripAdvisor. Read More ›

Categories: Did you Know?, Digital Assets, News, Social Media