Estate Planning

When was the last time you had your estate plan reviewed? If it has been awhile or you have had any major changes in your life (children, divorce, job change, inheritance, etc.), it may be time to review and update your estate plan to ensure that unintended individuals do not inherit assets from your estate.

Contact your UHY professional today.

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Higher taxes on capital gains and dividends in 2013

Through the end of 2012, the maximum tax rate on long term capital gains and qualified dividends is 15%. Beginning in 2013, those rates are scheduled to increase. The tax rate on long term capital gains for taxpayers in a 25% or higher tax bracket will rise to 20%. In addition, qualified dividends will no longer be taxed at a preferential tax rate. They will be taxed as ordinary income starting in 2013, which means the rate could be as high as 39.6%.

Consequently, this provides some planning opportunities. If you have some highly appreciated long term investments, you may want to sell them in 2012 and pay the tax on the gain at the lower rate. If you wanted to retain the investment, you could then repurchase them. The new purchase would have a higher basis so that when it is sold later, there would be less gain to be taxed at the higher rates.

In addition, if there is an option to pay a dividend in either 2012 or 2013, you may want to have it paid in 2012 to take advantage of the lower tax rates.

For subchapter S corporations with prior C corporation earnings, this may be a good time to consider distributing those earnings at the 15% tax rate.

For more information or questions on this topic, please contact your professional at UHY LLP in Farmington Hills (248) 355-1040 or Sterling Heights (586) 254-1040 or visit us on the Web at uhy-us.com.

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Events Calendar

UHY's CORE Business Management Webinar Series

Start your week out right with an executive-level, 55-minute webinar. The CORE Business Management complimentary webinar series is packaged to provide busy executives with the understanding, business direction and recommended strategies to help address, achieve and maintain business profitability and viability. Each session will run from 8:05 AM-9:00 AM EST. The series targets strategy, tools and methodologies to achieve and sustain a viable business based on strengthening a company's processes leading to increase profitability, market share and operational control.

4/2        Grants, Credits & Other Revenue Enhancing Strategies

4/16      Reshoring/Backshoring: A Manufacturing Opportunity?

4/30      Developing & Implementing a Strategic Marketing Plan

5/14      Web, Mobile and Emerging Technologies

5/28      Retooling Your Economic Engine

6/11      Social Media as a Marketing Tool

CPE credit is offered. The CORE webinar series will be presented by Alan Lund, Consulting Principal. Alan has over 30 years of experience providing business process analysis and profit improvement services. Contact Alan Lund to register via email alund@uhy-us.com or phone 248-204-9447.

5/16 Non-Profit Executive Briefing

UHY LLP's Farmington Hills office

27725 Stansbury Blvd., Suite 100 * Farmington Hills, MI 48334

Registration and breakfast will start at 7:30 AM. Program begins promptly at 8:00 AM and concludes at 11:30 AM. Topics including:

*              Saving time and money by integrating donor management and accounting systems

*              Gaining better insights by using easy and flexible reporting tools

*              Building stronger member and donor relationships

Admission is free and breakfast is included. To register, please contact Eric Younan via email eyounan@uhy-us.com or phone 248-204-9354.

5/22 Business Owners Symposium

Inn at St. John's

44045 Five Mile Road * Plymouth, MI 48170

Join us from 11:00 AM to 1:30 PM for a unique and exclusive forum of financial expertise offering innovative approaches to help you map out your business strategy. Topics include:

*              Growing your business

*              Selling your business

*              Tax strategies

*              Family involvement

*              Creating a legacy

*              Preserving wealth

RSVP by May 11, 2012 to Eric Younan via email eyounan@uhy-us.com or phone 248-204-9354.

5/30 UHY LLP's Petroleum Webinar---SAVE THE DATE!

Wednesday, May 30, 2012

12:00 PM-1:00 PM EST

Registration to open in April. More information to follow.

6/2 17th Annual Dan McCarty Golf Classic---SAVE THE DATE!

Twin Lakes Golf and Swim Club

Registration starts at 7:00 AM * Shotgun start at 8:00 AM

Sponsorship opportunities available * Proceeds benefit Lupus Alliance of America * More information to come

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