What to Know About Michigan Planning Law When the term “estate planning” comes up, the first thing that comes to mind is a Last Will and Testament. It is the most commonly known document in estate planning. However, estate planning extends beyond just...
I have unpaid taxes — Should I Still File This Year? Filing your taxes and paying them on time is vital. However, people’s life situations sometimes change suddenly, or a one-time event disrupts their entire financial plans for the year. And if any of those result in...
Reopening Your Business As of this writing, all of Michigan is subject to Governor Whitmer’s latest stay-home order, which is set to expire on May 28, 2020. The latest order has given some businesses the go-ahead to resume operations, while others eagerly await their...
Cares Act Highlights to Know The Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) was signed into law by President Trump on March 27, 2020. The CARES Act is the largest economic stimulus package in U.S. history. In light of its overwhelming size and...
Marital Deduction Trusts Marital deduction trusts used to be a very popular estate planning tool for married couples whose gross estate would potentially be subject to federal estate tax. Such trusts allowed married persons to effectively double the federal estate tax...
Business and Personal Income Taxes The “Tax Cuts and Jobs Act” was approved by Congress and went into effect on January 1, 2018 making significant changes to business tax and personal income tax starting with the 2018 tax year. For businesses, the maximum corporate...
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