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2014 Newsletters

ENSURE YOUR FINANCIAL PRIVACY

ENSURE YOUR FINANCIAL PRIVACY

There is a federal law that affords consumers significant say over the privacy of their financial information while still allowing financial institutions to share information for normal business purposes. This Act covers banks, savings and loan institutions, credit unions, insurance companies, securities firms, and even some retailers and automobile dealers that extend or make arrangements for consumer credit.

ESTIMATED TAXES FOR BUSINESS OWNERS

ESTIMATED TAXES FOR BUSINESS OWNERS

Estimated tax is the method used to pay tax on income that isn’t subject to withholding, most notably earnings from self‑employment. Many owners of small businesses—whether operated as S corporations, partnerships, limited liability companies electing partnership taxation, or sole proprietorships—pay their estimated tax using the same IRS Form 1040‑ES that individuals use.

REAL ESTATE DEALS GONE WRONG

REAL ESTATE DEALS GONE WRONG

The ageless advice to read, understand, and expect to be bound by language in a contract you sign is as sound now as ever. It is especially important with respect to contracts to buy real property, where the financial stakes are often high. Jerome contracted to buy property, delivering a $5,000 deposit to be credited toward the purchase price. An addendum to the contract agreed to by the parties stated that in the event the seller breached the agreement or defaulted, Jerome was entitled to the return of his earnest money and cancellation of the contract, as his “sole and exclusive remedy.”

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1700 W. Hamlin Rd, Suite 100
Rochester Hills, MI 48309
Toll Free: 855.648.9977
Phone: 248.601.4700
Fax: 248.652.8482