Now You Know It Archives – Wright Beamer, PLC

Before the Sun Sets

November 28th, 2023

The 2017 Tax Cuts and Jobs Act (TCJA) doubled the lifetime estate and gift tax exemptions, increasing them to $11.18 million for individuals and $22.36 million for couples, with continued increases after 2018. Currently, the exemptions stand at $12.9… Read More

Transparent Time

November 21st, 2023

Contributor: Dirk A. Beamer

The federal Corporate Transparency Act was passed in 2021 but takes effect this coming year. With the goal of tracking and limiting illegal money flowing through the American economy, the Act imposes reporting requirements on most existing and new sm… Read More

Here's a Tip!

November 14th, 2023

Contributor: Evan M. Chall

The U.S. Department of Labor (“DOL”) Wage and Hour Division recently recovered more than $72,000 for employees of Kentucky coffee shops that maintained illegal tip pools. The DOL found that coffee shop managers impermissibly retained a portion of… Read More

Estate Planning Got You Spooked?

October 31st, 2023

Contributor: LeClair L. Flaherty

What makes you tremble when you think about estate planning? On this Halloween day, I thought I’d let you in on a few of the estate planning fears people have shared with me over the years: If I plan for death, I will die. This is a very real fear… Read More

The fall time change could affect how employees are paid

Time for a Change

October 24th, 2023

Contributor: Dirk A. Beamer

Does daylight saving time affect employee pay? In a couple of weeks, daylight saving time will end and most of us will “fall back” an hour. While many of us will simply be concerned with resetting clocks, employers will want to consider how they… Read More

Short-Term Rental Review

October 17th, 2023

Contributor: Heather B. Miles

Short-terms rentals have become increasingly popular with real estate investors and those who want to purchase a retirement or vacation home for the future but are willing to rent it to vacationers during the intervening years. Whether you are consid… Read More

Appetite for Title VII Enforcement

October 10th, 2023

Contributor: Evan M. Chall

Last month, the Equal Employment Opportunity Commission (“EEOC”) filed suit against the operators of the Fricker’s restaurant chain, alleging that the company violated federal law by discriminating against qualified male applicants. According t… Read More

Ill, older man signing estate planning documents and will

Where There's a Will. . .

October 3rd, 2023

Contributor: LeClair L. Flaherty

I’m occasionally asked if an individual can create or update an estate plan if a doctor has opined that the individual can no longer make sound decisions or the individual has a court-appointed guardian or conservator. The short answer: It depends.… Read More

Make Your Intentions Clear

September 26th, 2023

Contributor: Nathan D. Lichtman

A recent Michigan Court of Appeals decision has served as a reminder that when it comes to interpreting a trust, clear language regarding your intentions can go a long way in resolving potential disputes and making sure your wishes are fulfilled. In… Read More

Tug-of-War in Washington

September 19th, 2023

Contributor: Dirk A. Beamer

For the third time since 2016, the United States Department of Labor (DOL) has proposed changes to the minimum salary an employee must receive to be exempt from overtime pay requirements. Under the Fair Labor Standards Act (FLSA), employees who work… Read More