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2013 newsletters

Pitfalls Of Being An Executor

Pitfalls Of Being An Executor

As a general rule, the executor of an estate does not have personal liability for the debts and obligations of a decedent. Lest executors become complacent, however, they should be aware of an important exception to that rule, which was illustrated by a recent federal court case between executors and the Internal Revenue Service (IRS).

How Long Has This Been Going On?

How Long Has This Been Going On?

Even if you’re a taxpayer with simple returns and few supporting documents, you can become a little snowed under by tax records as they accumulate over the years, raising the question of how long you should hold on to such records. The answer depends on the types of documents and transactions involved, but if you have been a tax records pack rat for many years, chances are you can safely dispose of the oldest such records without inviting trouble.

Underwater Homeowners Get A Life Raft

Underwater Homeowners Get A Life Raft

The travails of the housing market in recent years are well documented. The prevalent symbols of this downturn are the “underwater” homeowners, who owe more on their mortgages than their homes are worth. About 4.6 million such homeowners have mortgages backed by Fannie Mae or Freddie Mac, and fully 80% of those owners haven’t missed any mortgage payments.

Classifying Employees For Wages

CLASSIFYING EMPLOYEES FOR WAGES

As a general proposition, employers are required by federal law to pay their employees overtime, usually one and one‑half times the hourly pay, for time in excess of 40 hours in a work week. They are also required to pay the minimum wage, which is currently $7.25 an hour.

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1700 W. Hamlin Rd, Suite 100
Rochester Hills, MI 48309
Toll Free: 855.648.9977
Phone: 248.601.4700
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