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SPECIAL ANNOUNCEMENTS

America's Thanksgiving Parade

UHY Opens Detroit Office

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TAX EXTENDERS BILL PASSED BY SENATE

Late last night, the US Senate approved legislation, which the House already passed, to extend for one year more than 50 tax provisions that had expired at the end of 2013. The pending retroactive enactment of this legislation will impact the 2014 taxes for many individuals and businesses. Among the key provisions that are extended in the Tax Increase Prevention Act of 2014 are:

Business Provisions

Bonus depreciation
Section 179 expensing
15 year write-off for restaurant property and qualified leasehold and retail improvement property
Research and development credit
Work opportunity tax credit
Reduction in S corporation built in gains period
100% exclusion of gain on certain small business stock

Individual Provisions

Above the line deduction for educator expenses
Exclusion for discharged home mortgage debt
Deduction for sales and use tax in lieu of state income taxes
Above the line deduction for higher education expenses
Nontaxable IRA transfers to eligible charities

Energy-Related Provisions

Nonbusiness energy property credit
New energy efficient home credit
Energy efficient commercial building deduction
Alternate fuel credit
Biodiesel mixture excise tax credit

The bill now goes to President Obama and is expected to be signed into law quickly. Once signed by the President, these provisions will become effective January 1, 2014 but are due to expire in a short 14 days from now. So unless there is some action by Congress in early 2015 relating to these provisions, we may have another year of tax uncertainty ahead of us.

For more information on the Tax Increase Prevention Act of 2014 or how these tax breaks apply to you or your business, contact your professional at UHY LLP in Detroit 313 964 1040, Farmington Hills 248 355 1040 or Sterling Heights 586 254 1040, or visit us on the web at www.uhy.us.com.

SPECIAL ANNOUNCEMENTS

UHY LLP Participates In Nearly 90-Year-Old Detroit

Thanksgiving Tradition

Over the holiday weekend, UHY LLP sponsored the

Distinguished Clown Corps float in the 88th America's

Thanksgiving Parade. The Parade is Detroit's grandest and

most anticipated civic event, the second largest Thanksgiving

parade and the third largest parade in the country overall.

First televised in 1948, The Parade is now broadcast nationally to more than 65 million viewers.

"With our new office now open downtown, being a part of The Parade kick started our involvement in the local community, and what better way to do it then through this memorable tradition," said UHY Advisors' chairman, Tony Frabotta. "We chose to sponsor this brand new float because the Distinguished Clowns Corps is comprised of community leaders and supporters just like us.

"Dozens of employees and their families filled the streets to cheer on UHY's very own Distinguished Clowns (Bill Kingsley, Todd Bensley and son Justin, and Tom Callan and son Joseph) who walked alongside the float, representing UHY. The clowns distributed candy, smiles and UHY beads to spectators along the parade route.

UHY Opens Third Michigan Office In The Heart Of Downtown Detroit's Financial District

UHY LLP, a leading national CPA firm with over 300

employees in Oakland and Macomb counties, is opening its

third Michigan office in the heart of downtown Detroit's

financial district. UHY's first Wayne County office will be open for business on the sixth floor of the Chrysler House

(previously known as the Dime Building) sometime in

November. The 23-story historic skyscraper is located at

Griswold and Fort streets near Campus Martius Park.

Ironically, this is the same building that founding partner,

Gordon Follmer, first started his accounting career while going to night school at University of Detroit in 1960. "We're excited to expand operations in Detroit as the revitalization of

business growth in the City is gaining momentum," Follmer

said. He also feels the downtown addition will be excellent for

recruiting and retention, "A lot of our new team members, the

younger ones, the next generation of leaders, have expressed interest in working downtown".

Many of their Detroit-based clients including Hiram Jackson,

CEO of Real Times Media and publisher of the Michigan

Chronicle; Cindy Pasky, founder, president and CEO of

Strategic Staffing Solutions and chair of the Detroit DowntownPartnership Board of Directors; Bridgewater Interiors' president and CEO Ron Hall; and John James, founder,chairman and CEO of James Group International have encouraged and supported the firm's move to the City. "We're delighted to see UHY open an office in Detroit. They've been our accounting firm for a very long time and done wonderful things for us. They will be a great addition to Detroit's growing financial community," said James.

UHY LLP is one of many companies who have moved into the 352,000 square foot building since it was acquired by Bedrock Real Estate Services in August 2011. The neoclassical Daniel Burnham-designed structure is within short walking distance from Campus Martius Park, Westin Book Cadillac Hotel, Cobo Center, PeopleMover station and sports venues.

"UHY joins an impressive list of more than 45 retail, professional services and corporate tenants," said Jim Ketai, co-founder and managing partner of Bedrock.

"We are really excited about this new beginning in the downtown area," said Tony Frabotta, CEO of UHY Advisors MI, Inc. and managing partner of UHY LLP. "This is a great opportunity for UHY to be part of Detroit's comeback story."

Careers At UHY

Are you ready to take charge of your career path? Be sure to

visit our careers page for the most up-to-date career listings or contact Amanda Sheets at asheets@uhy-us.com or 248 204 9482. Check out some of the current opportunities in our Sterling Heights and Farmington Hills locations:

Tax senior staff accountant, 2-4 years of experience
Audit senior staff accountant, 2-4 years of experience
Tax senior accountant, 5-7 years of experience, CPA required
Audit senior accountant, 5-7 years of experience, CPA required, working with municipalities a plus
Audit manager, 7+ years of experience
Director of litigation, testifying experience required
Tax manager, 7-10 years of experience
Marketing associate, 2+ years of experience, bachelor's degree in marketing or related field
Experienced recruiter, 1-3 years of experience, preferably working within public accounting

Published by UHY LLP News.

Our firm provides the information in this newsletter as tax information and general business or economic information or analysis for educational purposes, and none of the information contained herein is intended to serve as a solicitation of any service or product. This information does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisors. Before making any decision or taking any action, you should consult a professional advisor who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

UHY Advisors, Inc. provides tax and business consulting services through wholly owned subsidiary entities that operate under the name of "UHY Advisors." UHY Advisors, Inc. and its subsidiary entities are not licensed CPA firms. UHY LLP is a licensed independent CPA firm that performs attest services in an alternative practice structure with UHY Advisors, Inc. and its subsidiary entities. UHY Advisors, Inc. and UHY LLP are U.S. members of Urbach Hacker Young International Limited, a UK company, and form part of the international UHY network of legally independent accounting and consulting firms. "UHY" is the brand name for the UHY international network. Any services described herein are provided by UHY Advisors and/or UHY LLP (as the case may be) and not by UHY or any other member firm of UHY. Neither UHY nor any member of UHY has any liability for services provided by other members.