Detroit Business Law – Resources for Metro-Detroit Businesses
Resources for Metro-Detroit Businesses
Since 1994, property taxes in Michigan have been capped. This means that if a property becomes more valuable over the years, the property tax will not increase based on the …
Family Transfers Exempt From “Uncapping” Under New Michigan Law Read MoreA new law now requires that the Michigan Department of Treasury provide a purchaser of a business with the business’ known, or estimated, tax liability within 60 days of …
New Rules Regarding Tax Liability When Purchasing a Business Read MoreNew IRS Tipping Rules Took Effect January 1, 2014 New IRS tipping rules took effect on January 1, 2014 that now requires employers in the hospitality industry who apply automatic gratuities to …
New IRS Tipping Rules Took Effect January 1, 2014 with Negative Consequences to Both Hospitality Employers and Their Employees Read MoreLIKE KIND EXCHANGES UNDER INTERNAL REVENUE CODE SECTION 1031 Prior to 2000, the real estate market was so hot that a property might appreciate more than 20% overnight, especially at …
Introduction to the 1031 Exchange Read MoreIt’s that time of year again to report unclaimed property to the state. This past year, the state government really cracked down on this law by sending notices out in …
Unclaimed Property Read MoreA client recently called to discuss business travel. She frequently attends conferences and training seminars around the country and was concerned that her high travel expense might be a red …
Deducting Business Travel Read MoreTaxmageddon is about to befall us all. Not only are the favorable rates implemented by the Bush Administration about to expire 1/1/13 but there are new Medicare and investment taxes …
New Medicare and investment taxes for high-income taxpayers Read MoreI recently read a good article on LLC Basics written by Nellie Akalp. In reading the article I was quickly reminded of mistakes that I generally see when people are …
Common LLC Mistakes Read MoreOdds are that at some point in your business career you will be contacted by the IRS via mail or in person. The article attached entitled “10 things to know …
Contact by the IRS Read MoreThe IRS has just recently released its list of the 2011 top tax scams. Several of these make the list every year despite numerous IRS court victories and enforcement actions. …
2012 Dirty Dozen Tax Scams Read More