Did you know Benjamin Franklin is usually the one who is credited for saying nothing is certain except death and taxes? Of course, there are other things we can say with certainty. For example, I am certain that April 8th (Tigers’ Opening Day) comes before April 18th (this year’s Tax Day). We get Mr. Franklin’s point, though, and so does the IRS.
Unless you file for an extension, the IRS expects you to file your federal income tax return by April 18th this year, 3 days later than the usual due date. Before you submit your tax return, please take a look at the article by Gloria Chon, which provides a quick outline of items you may want to consider while preparing your return.
Oddly enough, the combination of death and taxes – estate taxes – has proven not to be so certain: in 2010 there was the option of paying no federal estate tax. However, that exemption was short-lived and estate tax rules are here again for the foreseeable future. In fact, the IRS just issued a new tax form that an estate may need to file. In his article, Brian Jenney explains this new requirement in detail.
Aside from leaving us with a beloved quote about death and taxes, Benjamin Franklin is known for having accomplished a lot starting at an early age. There are still young people, right here in our community, that exemplify the curiosity and ambition of Benjamin Franklin. Please join us in saluting this year’s class of the Oakland County Elite 40 Under 40. We are proud and supportive of our very own Chris Martella, who is a member of this class, as well as all of the young and talented people who continue to keep Michigan strong.