Archive: October 2024

• TEXAS COURT DELIVERS EARLY HOLIDAY GIFT TO MICHIGAN EMPLOYERS

  October 18, 2024

  Michigan employers have faced a level of uncertainty in setting their personnel budgets for 2025 due to the United States Department of Labor’s 2024 Rule that increased the minimum salary for employees exempt from overtime under the Fair Labor Standards Act as Administrative, Executive, or Professional employees. The increase was scheduled in two phases: the […]

• THE IMPACT OF CONNELLY V. UNITED STATES ON SUCCESSION PLANNING FOR BUSINESS OWNERS

  October 3, 2024

  On June 6, 2024, the Supreme Court of the United States ruled in a 9-0 decision that life insurance proceeds from a company-owned policy used to redeem a deceased owner’s interest in a closely held business must be included when calculating the value of that owner’s interest for federal estate tax purposes. The Court’s ruling […]