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The Real Estate Planning Crisis Isn’t About Taxes

Many Americans have not signed the proper documents to protect their loved ones in the case of an accident. A 2011 Associated Press Survey discovered that 64% of baby boomers did not have a living will. This article below by Deborah Jacobs gives insight into the importance of real estate planning for each life stage. http://www.forbes.com/sites/deborahljacobs/2012/06/26/the-real-estate-planning-crisis-isnt-about-taxes/

School Employees Could See a Cut in Benefits

Backed by Governor Snyder, the senate is planning on taking on a bill that would make school employees have to pay more for benefits. This bill has already been improved by the House by a a 57-47 vote. To read more, click on the link below.  School employees could see a cut it in benefits as soon as the start of the new school year.  Please click the link below to learn more about the possible cut to school employees benefits.
http://www.freep.com/apps/pbcs.dll/article?AID=2012207150462

 

Supreme Court Upholds Individual Health Care Act

In a 5-4 majority, the Supreme Court has upheld the individual mandate in the Patient Protection and Affordable Care Act (Individual Health Care Act). This mandate requires most Americas to have health care. If they do not, they will face a penalty. This mandate would go into effect for tax years ending after December 31, 2013.

For more information: http://www.washingtonpost.com/politics/supreme-court-to-rule-thursday-on-health-care-law/2012/06/28/gJQAarRm8V_story.html

 

Did you know?

The Internal Revenue Code (IRC) states that all compensation an employee receives from an employer in “any form” constitutes wages subject to employment taxes unless specifically excluded.  Examples of “taxable” fringe benefits include: gifts of $25 a year (this includes company logo items), prizes won at company function (summer parties, Christmas parties, etc), bonuses for exceptional work, etc.

Help for Farmers

Due to the late frost last April, much of Michigan’s apple, cherry, and peach crops were destroyed. A new package of bills being introduced this week should give fruit growers and processors access to a five-year low interest loan administered by banks and agricultural lenders.

For more information and to see where this information came from, click on the link below. http://www.mlive.com/business/west-michigan/index.ssf/2012/05/fruit_growers_and_processors_m.html#incart_more_busine

Brickley DeLong Manager Passes CFE Exam

Brickley DeLong is pleased to announce we now have a Certified Fraud Examiner on staff! We celebrate with Manager, Edward Elsner, CPA, CFE on his completion of the CFE Exam and are excited about the opportunity to expand our services for our clients.