Who's On Your Team: Insurance Advisor

Last month, we spent some time discussing the importance of having an experienced accountant on your business’s team of professional advisors. This month, we are going to talk about insurance advisors and why you need to have a trusted agent on your business’s dream team of professional advisors.

 

At the consumer level, insurance is almost impossi…

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Deadline Approaching: Personal Property Tax

No, this tax is not quite dead yet.  Personal property tax statements are still due to your local assessor by Friday, February 20, 2015.  The new legislation adopted by the legislature and approved by the voters in August of 2014 does eliminate the personal property tax for some personal property in the state, but not quite yet for everyone.  For b…

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Concierge Medicine Comes to Michigan

Buried in the Patient Protection and Affordable Care Act (ACA) is a provision that authorizes an innovative form of health care delivery and insurance: direct primary care, otherwise known as concierge medicine.

One of the ACA’s goals is to make health insurance more affordable by expanding the population of insured individuals.  The mechanism to b…

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Achieving a Better Life Experience (ABLE) Act

Congress has passed and the President has signed, the Achieving a Better Life Experience (ABLE) Act. The Act adds a new section, Section 529A, to the Internal Revenue Code to allow for the creation of new tax-free savings accounts for individuals with disabilities.  These new accounts could help millions of disabled individuals and their families p…

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Potential Tax Hike for Ladybird Deeds and Life Estates

The Michigan State Tax Commission (Commission) recently issued its December 2014 Transfer of Ownership Guidelines, interpreting MCL 211.27a, which governs how real property is taxed. Most noteworthy were the guidelines addressing transfers of ownership of residential real property to certain close relatives ("qualified family members") and transfer…

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