Month: December 2014

Old Man Rip You Off?

The Michigan Court of appeals recently upheld the right of children to sue their father where he pulled money out of accounts established for their benefit. The accounts (commonly called “UGMA” accounts because of their legislative name, “Uniform Gift or Transfer to Minor) are commonly set up as savings for college or other expenses. A …

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Heads-Up: Certain Tax Deductions and Credits Extended through the End of 2014

Late Tuesday night, news crossed the wire that the Senate passed the “Tax Increase Prevention Act of 2014” (the “Act”) by a supermajority-exceeding vote of 76-16. The Act, which is predicted to be signed into law by President Obama within the next few days, provides a wide-ranging extension of tax breaks for individuals and businesses. …

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