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Blog Schultz Tax and Accounting Blog

 

Michigan Condo Act     History: 1978, Act 59, Eff. July 1, 1978 ;– Am. 1980, Act 283, Imd. Eff. Oct. 10, 1980 ;– Am. 1982, Act 538, Imd. Eff. Jan. 17, 1983 ;– Am. 1998, Act 36, Imd. Eff. Mar. 18, 1998   The…




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19 Dec / Estate Tax

Estate Tax. The estate tax exemption for 2014 is $5,340,000 while the 2013 exemption was $5,250,000. The gift tax exclusion for both 2013 and 2014 is $14,000.  These exemptions are for the decedent and the one giving the gift.  They are not in regards to…




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18 Dec / Balance Sheet

Balance Sheet The balance sheet portion of a financial statement say a lot.  The balance sheet is dated as a period in time. It is not a date range of information. It tells the reader the exact balance of that account on that date. The…




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17 Dec / Business Plan

  Business Plan The first stop for anyone writing a business plan for the first time should be the US Small Business Association website. The second step might be to contact your local chamber of commerce to see what kind of preliminary information they can…




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05 Dec / Loan Calculator

Loan Calculator Simple Loan Calculator Determine a mortgage or loan payment amount.         While we find that acquiring loans especially for small businesses can be a vary complicated process, the first step in the process is always to determine its cash impact,…




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