Multifamily Marketing’s (Not-So-New) Tech Essential
As the health crisis hit the world, every business sector had to look far and wide for new resources to tap—and most professionals found that, sometimes, the most useful solutions are not the newest ones. QR codes have been around for more than 20 years, but they have taken off since the onset of COVID-19, […]
Multifamily Marketing’s New Hot Tool: TikTok
As the pandemic forced an increasing number of businesses to switch to online operations, the real estate industry took to an unlikely platform: TikTok. According to official data provided by the platform, 42 percent of TikTok users say they’re using the app to discover new things, from dance trends and songs to lifestyle hacks and pranks, […]
Self Storage Rents Continue Strong Performance
Self storage fundamentals remained strong in May, with substantial rent growth registered across the U.S. On a year-over-year basis, street-rate rents increased 10.7 percent for the average 10×10 non-climate-controlled units and 12.8 percent for the climate-controlled units of similar size. The sector also saw considerable rent growth on a month-over-month basis—up 1.6 percent and 2.2 […]
The hottest real estate markets to invest in, according to experts
Work from home, but invest across the nation. Real estate investments shouldn’t be limited to where you physically live, as you may be missing out on some of the hottest markets in the nation. The experts at Roofstock agree completely, which is why they are on a mission to make buying and selling properties a breeze while breaking […]
Michigan adds requirement for unemployment, relaxes rules for manufacturing workers
Although Gov. Gretchen Whitmer vetoed one Republican-sponsored unemployment bill this week, she signed another one into law. Whitmer signed Senate Bill 501, which adds a requirement for people on unemployment and relaxes the rules for laid-off manufacturing workers expecting to get recalled. Sen. Ken Horn, R-Frankenmuth, sponsored the bill. Whitmer vetoed a Republican bill this week that […]
West Michigan manufacturers see opportunity in automation, Industry 4.0 as labor shortage persists
Dowagiac-based Lyons Industries Inc. has long been notorious for dirty, thankless work. Lance Lyons, a third-generation president for the bathroom fixtures manufacturer, once passed through a Burger King drive-thru when a restaurant employee spotted his company T-shirt. “The woman recognized my shirt and said, ‘I heard that place is really tough to work at,’” Lyons […]
$6 Million Appropriation Will Provide Long-Term Solutions to Talent Crisis
As part of MMA’s effort to provide solutions to the acute need for manufacturing talent now and in the future, I am proud to announce that this week Governor Gretchen Whitmer signed into law a $6 million appropriation secured by MMA to double the number of schools participating in the Partnership Response in Manufacturing Education […]
Get serious about your strategic planning meetings
Businesses should take strategic planning seriously. One way is to hold meetings focused on plotting your company’s future. To get the most from these gatherings, follow some best practices for any formal business meeting. Set a clear and feasible agenda so there will be no surprises. If necessary, lay down rules to preserve decorum and prevent (or resolve) conflicts. Choose a facilitator to oversee the meeting. If no one at your company feels up to the task, you could engage a qualified outside consultant. Record the minutes of the meeting to document what took place and which (if any) decisions were made. Contact us for help with the financial aspects of strategic planning.
The deductibility of corporate expenses covered by officers or shareholders
Do you play a major role in a closely held corporation and sometimes spend money personally on corporate expenses? In general, you can’t deduct an expense you incur on behalf of your corporation even if it’s a legitimate business expense. That’s because you can only deduct expenses that are your own and the corporation is a separate legal entity. What’s more, the corporation won’t generally be able to deduct them either because it didn’t pay them. One solution is to arrange to have the corporation reimburse you for expenses you incur. Turn the receipts over to the corporation and use an expense reimbursement claim form or system. Then, the corporation can deduct the reimbursement amount.
You may have loads of student debt, but it may be hard to deduct the interest
If you have student loan debt, you may wonder if you can deduct the interest you pay. The answer is yes, subject to certain limits. However, the deduction is phased out if your adjusted gross income exceeds certain levels. The maximum amount of student loan interest you can deduct per year is $2,500. For 2021, the deduction is phased out for single taxpayers with AGI between $70,000 and $85,000 ($140,000 and $170,000 for married couples filing jointly). The deduction is unavailable for singles with AGI of more than $85,000 ($170,000 for married couples filing jointly). The interest must be on funds borrowed to cover qualified education costs of the taxpayer or his spouse or dependent.
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