Who's On Your Team: Financial Advisor

Previously in this series, we discussed the importance of having an experienced accountant and insurance advisor on your business’s team of professional advisors. An experienced accountant will help keep your business in great financial shape and a seasoned insurance advisor will ensure your business has the right coverage to weather just about any…

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Proposed Bill Would Eliminate Zoning Restrictions on Short-Term Rentals

A recent Bill introduced in the Michigan House seeks to curb restrictions on short-term rentals in areas zoned for residential use. As background, homeowners in certain areas of Michigan have long relied on occasional short-term rentals. However, the proliferation of rentals through marketing by social media and online rental sites has created a bo…

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Legal Alert: Federal Judge Delays Enforcement of New FLSA Regulations

Yesterday, a federal judge of a U.S. District Court in Texas granted a nationwide preliminary injunction postponing enforcement of the new FLSA overtime and exempt status regulations until the Court is able to evaluate their legality. Twenty-one states filed suit in Texas challenging the validity of the regulations, arguing that the new regulations…

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It’s Not Too Late: A One-Month Plan for Compliance with New FLSA Exempt Status Overtime Regulations

The new Fair Labor Standards Act (FLSA) exempt status overtime regulations are effective in one month - December 1, 2016. The significant changes include, but are not limited to, an increase in the minimum salary threshold for exempt status, rising from $455 per week ($23,660 per year) to $913 per week ($47,476 per year). As a result, millions of w…

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Missed the IRA Rollover Window? New Revenue Procedure May Save Stress and Money

On August 24, 2016, the IRS issued a new revenue procedure that has the potential to save taxpayers a lot of stress and money. In general, when a taxpayer takes a distribution from an IRA or other qualified plan, that distribution must be included in the taxpayer’s gross income unless the funds are redeposited into a new IRA or qualified plan withi…

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