OAK front Feb

Document Sample
OAK front Feb Powered By Docstoc
					OAK front page Feb3-2    2/2/09     2:11 PM    Page 1

                                Oakland County Legal News                                               
                                                                                                   Serving the Oakland County Legal Community Since 1927
              Volume 82, Number 24                                                                                             Troy, Michigan                                                           Tuesday, February 3, 2009, ONE DOLLAR

           Worship service planned
                                                               BY MIKE SCOTT
                                                               Legal News
                                                                                                                                                    Area law firm helps business
                                                                                                                                                    clients secure funding sources
                                                                                                                                                                                                         maker tools came about largely because of client demand. A
                                                                                                                                                                                                         small group of clients were surveyed about the usefulness of
                                                                                                                                                                                                         such a service and the positive response was overwhelming,
           by Association of Black                                National law firm Foley & Lardner L.L.P. has launched a
                                                               Senior Living Private Equity Matchmaker tool which is expect-
                                                                                                                                                                                                         according to Michael Okaty, Foley & Lardner senior living
                                                                                                                                                                                                         industry chair.
           Judges of Michigan                                  ed to improve the ability of firm professionals to refer potential
                                                               business opportunities to its existing client base in Southeast-
                                                                                                                                                                                                            The tool requires attorneys to enter a minimal amount of
                                                                                                                                                                                                         information into the system so that it is available to all internal
              The Association of Black Judges of Michi-        ern Michigan and around the country.                                                                                                      stakeholders.
           gan will conduct their annual Worship Service          This is the latest of the firm’s proprietary online private                                                                               Unlike less flexible shared directories that may be more of a
           on Sunday, Feb. 15, at Hope United Methodist        equity matchmaker software programs, designed in-house by                                                                                 common asset in many professional service firms, Foley’s pro-
           Church in Southfield                                the Foley’s own IT department for its internal platform. The                                                                              prietary software will analyze the information that is entered
              The event begins at 9 a.m. with breakfast        Senior Living Private Equity Matchmaker tool is a value-added                                                                             by individuals and when prompted. It will then match clients or
           followed by a group photograph at 10 a.m.           service provided by the firm’s Senior Living Industry Team,                                                                               contacts with potential investment partners.
                                                                                                                                              VANRIPPER                           OKATY
           The morning worship service begins at 10:30         which is comprised of more than 30 attorneys across the                                                                                      This tool was initially created before the credit markets
           a.m.                                                nation.                                                                                                                                   crashed late in 2008, and now Foley attorneys are utilizing the
              The church is located in Southf ield at             The Senior Living Private Equity Matchmaker uses an auto-         Foley’s Detroit office and member of the firm’s Senior Living        tool more than they previous anticipated, VanRiper said.
           26275 Northwestern Hwy.                             mated search function and deal-matching capability to allow          Industry Team.                                                          “Given how difficult it is for businesses to get credit right
              For additional information, call (313) 972-      attorneys to match business owners and other entrepreneurs               “These Private Equity Matchmakers grew out of a need to          now, we realize this is a tremendous opportunity for us to tap
           5723.                                               with alternate funding sources that may be known among the           find more business referral opportunities for our clients. We        into a group of investors who have funds and are looking to
                                                               firm’s clients and other contacts.                                   felt that there was no better way to do this than to share infor-    make investments outside of traditional sources,” VanRiper
                                                                  “It allows us to become more aware of funding opportuni-          mation in a seamless way among our various firms and profes-         said. “You can consider this a resource to uncover alternative
                                                               ties and to more effectively network among our colleagues’           sionals,” VanRiper said.                                             funding options, which is something many business owners
           Scuttled house raffle                               professional networks said Yvette VanRiper, a partner in                 The investment in these proprietary private equity match-                             (See FOLEY, Page 2)
           leads to lawsuit
              PONTIAC (AP) — A couple whose
           attempt to raffle their Detroit-area home was
           scuttled by state regulations has filed a law-
                                                               Michigan State                                                                 Parole Board issues explored
           suit seeking more than $25,000 from a lawyer
           they contacted about the plan.
                                                               Law Review                                                                                                                                                       The Oakland County Bar Associ-
                                                                                                                                                                                                                                ation’s Criminal Law Committee
              The Detroit Free Press recently reported
           that the lawsuit by Joe and Penelope VanDe-         rises in rankings                                                                                                                                                continued its brown bag lunch
                                                                                                                                                                                                                                lecture series—Anatomy of Crim-
           velder of Waterford Township was filed in               The Michigan State Law Review has once                                                                                                                       inal Case-Year X—with a look
           January in Oakland County Circuit Court             again risen in the national rankings of law                                                                                                                      into “Parole Board Issues”Tues-
           against lawyer Phillip Strehle.                     journals, as reported in Washington & Lee                                                                                                                        day, Jan. 20, at the OCBA Center
              A message seeking comment from Strehle           Law School’s annual law journal rankings, the                                                                                                                    in Bloomfield Hills. Speaking on
           was left Saturday by The Associated Press.          authoritative source for law journal rankings.                                                                                                                   the topic were Jerry Gleeson
              The VanDevelders weren’t able to sell their          This year marks the fifth year in a row that                                                                                                                 (left) of Miller, Canfield, Paddock,
           home for 18 months, so they decided to offer        the Michigan State Law Review jumped up in                                                                                                                       & Stone P.L.C.; and Charles Sin-
           raffle tickets for the four-bedroom, 1,500-         the rankings. The journal now ranks 118                                                                                                                          clair (center), field operations
           square-foot house at $100 apiece. They say          among law journals being ranked by this ser-                                                                                                                     manager of the Michigan Dept. of
           Strehle told them it was legal.                     vice, rising nearly 350 places since 2003.                                                                                                                       Corrections, Parole Board. “We’ll
              But last year’s raffle was halted over legal         Mahfouz Ackall, editor in chief of the                                                                                                                       be going over some of the policy
           concerns after it attracted public and media        Michigan State Law Review, explains the                                                                                                                          directives of the Michigan Dept.
           attention.                                          importance of the journal’s boost in the ratings:                                                                                                                of Corrections to better inform
                                                               “Authors use the rankings to decide where to                                                                                                                     practicing attorneys about the
                                                               publish or submit articles. A higher rank                                                                                                                        consequences of indeterminate
                                                               means more exposure which, in turn, means                                                                                                                        sentencing in the state of Michi-
           Man to face trial in                                authors are more likely to accept offers to pub-                                                                                                                 gan,” noted Gleeson. On hand to
                                                                                                                                                                                                                                welcome the speakers was Paul
           murder of parents                                   lish in the Michigan State Law Review,” Ackall
                                                               says. “This also means we have the opportunity                                                                                                                   Stablein of Flood, Lanctot, &
              CLARKSTON (AP) — An Oakland Coun-                to publish more high-quality pieces.”                                                                                                                            Connor P.L.L.C.
           ty man is headed to trial on charges that he                    (See JOURNAL, Page 2)                                                                                                                                Photo by John Meiu
           fatally stabbed his parents.
              Oakland County 52-2 District Court Judge
           Kelly Kostin last Friday ordered 25-year-old

                                                               DOCTOR’S CUP
           Mark Ott bound over to circuit court for trial
           on felony and first-degree murder charges.
              He will be arraigned in Oakland County
           Circuit Court on Feb. 11.
                                                                                                                    District judge, attorney place first at ‘pool party’
              Prosecutors say Ott fatally stabbed his par-     BY MARK WERDER                                       retired Oakland County Circuit Court Judge        The contest was won by the team of Oakland
           ents, Barbara and Michael Ott, both 57. Their       Legal News                                           Fred Mester. “Fight True” (“fight for what’s      County 46th District Court Judge Bill
           bodies were discovered Feb. 21, 2008, in their                                                           true and be true to the fight”) is the private    Richards and Birmingham attorney Gary
           home in Oakland County’s White Lake Town-               On Friday, Jan. 23, the first annual compe-      slogan Lavoie has coined which he inter-          Ladue.
           ship, about 30 miles northwest of Detroit.          tition for The Doctor’s Cup was held in Birm-        changeably invokes as a self-explanatory             Lavoie, who will be the subject of a feature                           Attorney Mike Lavoie
              Defense attorney Mitchell Ribitwer says he       ingham to crown inaugural victors and                description of his selfless missions to lend a    story in the winter issue of “Motion” maga-                      officially became a “Doctor”
           plans to bring an insanity defense at trial.        inscribe their names on a trophy commis-             hand to those in need—and his equal commit-       zine published by The Legal News, also was                          Jan. 23 when a “medical”
                                                               sioned to honor the Highest and Truest “Fight        ment to the art forms of keeping a rubber         roasted with presentations of an Executive                        degree was conferred upon
                                                               True” Contributions of attorney Mike Lavoie.         chicken handy in golf matches, conducting         Clemency Order, a medical degree and license                 him from “Fight True University.”
                                                                   Lavoie, long known as “The Doctor” for           handicapping and pairing activities under a       to practice medicine; “An Ode to
           Woman waives court                                  reasons lost in the mists of time, has been          shroud of secrecy—and cigar smoke, where          the Doctor” penned by Assistant
                                                               extraordinarily active in very low profile com-      possible—and asserting the FT mantle of           Oakland County Prosecutor John
           hearing in cyclist’s death                          munity service dating back to the Peace              final authority to settle all golf ethics dis-    Slevin; a “testimonial” from a
                                                               Corps. Lavoie continues to this day to be            putes.                                            Peace Corps colleague; an invo-
               ROYAL OAK (AP) — A 44-year-old Royal            deeply involved in organizing local Michigan            The Doctor’s Cup trophy was commis-            cation by retired Oakland Coun-
           Oak woman has waived a preliminary exami-           projects to support the African villages in          sioned by the Golden Years Foundation, a          ty Prosecutor Ron Covault; and
           nation in the hit-and-run death of a Detroit        Burkina Faso where he was stationed and              group of retired lawyers, who sought to appro-    opening ceremony music
           bicyclist.                                          worked as a well-digger decades ago.                 priately memorialize Lavoie’s unique commit-      excerpted from the Olympics
               Kimberly Dancy is to be arraigned next              An attorney with Butzel Long, Lavoie is a        ment and tireless service ethic. The inaugural    theme in a trumpet solo by Bill
           month in Oakland County Circuit Court.              native of Pontiac and also has been the main         Doctor’s Cup competition was a bumper pool        Richards, only the latter of
           Charges include failure to stop at the scene of     pillar in the Gettysburg Project, part of a Pon-     and pocket billiards tournament, two other        which was f it for public con-
           an accident when at fault resulting in death.       tiac youth mentoring program begun by                coincidental areas of the doctor’s expertise.     sumption.
               Forty-year-old Jacqueline Robinson was
           killed Sept. 19. Authorities say a second crash
           later was staged to mask the damage to
           Dancy’s vehicle.
               Dancy has been called the “Ghost Bike”
           driver after a bicycle painted white was left to
           mark the site of Robinson’s death.
               The Associated Press left a message last Fri-
           day seeking comment from Dancy’s attorney.

                  MORE INSIDE                                                                                                                                                                                           Oakland County 46th District Court
                                                                                                                                                                                                                        Judge Bill Richards (far left) and Gary
              Calendar ..............................3                                                                                                                                                                  Ladue (far right) joined forces to win the
                                                                                                                                                                                                                        inaugural Doctor’s Cup competition in
              Claim of Liens ......................5                                                                                                                                                                    Birmingham last month. Celebrating
              Classified Ads ......................2                                                                                                                                                                    their victory with them are (left to right)
                                                                                                                                                                                                                        Mark Werder, host of the event; Mike
              Daily Crossword...................3                                                                                                                                                                       Lavoie, namesake of the bumper pool
              Legal Notices .......................6                                                                                                                                                                    and billiards competition; and Alan
                                                                                                                                                                                                                        Gershel, co-chair of the Golden
              Mortgages Recorded ...........4                                                                                                                                                                           Years Foundation with Werder.
              Release of Liens ..................5

                                                               ■ Paradox of Thrift                                                   ■ Governor’s Speech                                                 ■ Running the Court
                                                               Americans saving more, spending                                       Federal stimulus to play a role in                                  Judge draws on life experience
                                                               less at worst time possible.                                          Granholm’s State of the State address.                              as high school basketball coach.
                                                                                            Page Two                                                              Page Three                                                          Back Page
OAK front page Feb3-2        2/2/09      2:11 PM      Page 2

       Page 2, Oakland County Legal News                                                                                                TUESDAY, FEBRUARY 3, 2009

        Americans saving                                                                                                   ‘Meet the Presidents’                                                                                       Don’t ignore the IRS
        more, spending less                                                                                                                                                                                                            BY CAROLE FELDMAN
                                                                                                                                                                                                                                       Associated Press Writer
                                                                                                                                                                                                                                                                                     Don’t forget, tax experts say,
                                                                                                                                                                                                                                                                                 that unemployment insurance ben-
        BY MARTIN CRUTSINGER                            “For economic purposes, pay-                                                                                                                                                                                             efits are taxable as income. If you
        AP Economics Writer                         ing off debt and saving are the                                                                                                                                                        WASHINGTON (AP) —                     didn’t opt to have federal or state
                                                    same,” he said. “Incurring debt is                                                                                                                                                 You’ve lost your job and your             income tax withheld or file esti-
           WASHINGTON (AP) —                        negative savings; paying down                                                                                                                                                      mortgage company is threatening           mated taxes, you could find your-
        Americans are hunkering down                debt is savings.”                                                                                                                                                                  foreclosure. Then, when it seems          self with a tax bill that you cannot
        and saving more. For a recession-               He sees a long-term behavioral                                                                                                                                                 that things can’t get any worse, the      pay. “However, the expenses that
        battered economy, it couldn’t be            shift. He calls the spending of the                                                                                                                                                tax man comes calling. What’s a           you incur to f ind a job are
        happening at a worse time.                  past decade or more unsustain-                                                                                                                                                     person to do? Don’t ignore the            deductible to the extent that you
           Economists call it the “para-                                                                                                                                                                                               Internal Revenue Service.                 can itemize,” provided you are not
                                                                                                                                                                                                                                           “The most important thing for         looking for a job for the first time,
        dox of thrift.” What’s good for                 “The only way people were
                                                                                                                                                                                                                                       people to do even if they owe             Meighan said.
        individuals — spending less, sav-           able to (spend heavily) was by
                                                                                                                                                                                                                                       money is to go ahead and file that            People struggling financially
        ing more — is bad for the econo-            harvesting cash out of their home
                                                                                                                                                                                                                                       return,” says Terry Lemons, senior        also could find themselves with a
        my when everyone does it.                   equity, which was just an illu-
                                                                                                                                                                                                                                       spokesman for the IRS. The aver-          bigger tax bill if they withdrew
           Last week, the government                sion,” Frank said.
                                                                                                                                                                                                                                       age refund last year was $2,429.          money from an Individual Retire-
        reported Americans’ savings rate,               The ripple effect has been bru-
                                                                                                                                                                                                                                       “That’s a lot of money for people         ment Account or 401(k) and didn’t
        as a percentage of after-tax                tal. The economy shrank at a 3.8
                                                                                                                                                                                                                                       who are facing hardship,” he said.        have taxes withheld. There also is a
        incomes, rose to 2.9 percent in             percent annual rate in the final
                                                                                                                                                                                                                                       “We encourage people to take a            10 percent penalty if you’re under
        the last three months of 2008.              three months of 2008, the worst
                                                                                                                                                                                                                                       look at their taxes, file electroni-      59 1/2 years old, with a few excep-
        That’s up sharply from 1.2 per-             showing in 26 years. The biggest
                                                                                                                                                                                                                                       cally and use direct deposit.” You        tions. In addition, the amount you
        cent in the third quarter and less          reason was that consumer spend-
                                                                                                                                                                                                                                       can get your refund in 10 days that       withdraw is considered income
        than 1 percent a year ago.                  ing fell for a second straight quar-         The Incorporated Society of Irish-American Lawyers (ISIAL) and the Macomb County                                                      way, versus four weeks or longer if       and is taxed. Depending on the
           Like a teeter-totter, when the           ter, something that hasn’t hap-              Bar Association (MCBA) conducted a joint meeting titled “Meet the Presidents” on                                                      you file by mail.                         amount withdrawn, it could push
        savings rate rises, spending falls.         pened since the 1990-91 reces-               Wednesday, Jan. 21, at Tommy Mac’s Pub in Warren. Welcoming State Bar of Michigan                                                         The IRS considers taxation a          you into a higher tax bracket.
        The latter accounts for about 70            sion.                                        President Edward Pappas (center) of Dickinson Wright P.L.L.C. were (left to right) War-                                               “pay as you go” system, said Bob              There’s some help, though, for
        percent of economic activity.                   Analysts believe the hard                ren attorney Sean Taylor, ISIAL president, and Arthur Garton of Garton & Vogt P.C.,                                                   Meighan, vice president for the           people who lost their homes to
        When consumers refuse to spend,             times will persist in 2009 as con-           MCBA president.                                                     Photo by John Meiu                                                Consumer Tax Group, part of Intu-         foreclosure and had their debt for-
        companies cut back, layoffs rise,           sumers, squeezed by layoffs and
                                                                                                                                                                                                                                       it Inc., which publishes the tax          given by their financial institution.
        people pinch pennies even more              tighter credit, delay purchases of
                                                                                                                                                                                                                                       preparation software TurboTax.                “When debt is forgiven, you
        and the recession deepens.                  cars and other big-ticket items.
           The downward spiral has ham-
        mered the retail and manufactur-
                                                        Some experts say consumers
                                                    have been so shaken by how fast
                                                                                               FOLEY:                                                                                                                                  “Most Americans are current in
                                                                                                                                                                                                                                       tax liability as they are earning
                                                                                                                                                                                                                                                                                 potentially have a taxable event,”
                                                                                                                                                                                                                                                                                 said Jackie Perlman, senior tax
                                                                                                                                                                                                                                                                                 researcher at H&R Block Inc. “...
        ing industries. For years, stores
        enjoyed boom times as shoppers
        splurged on TVs, fancy kitchen
                                                    their wealth has shrunk, so
                                                    burned by credit card debt, that
                                                    they might not resume their
                                                                                               Firm matches clients with funding                                                                                                           But if your annual income
                                                                                                                                                                                                                                       declined because you lost a job or
                                                                                                                                                                                                                                                                                 It’s just as if someone gave you
                                                                                                                                                                                                                                                                                 money to pay off your mortgage
                                                                                                              (Continued from page 1)                                        As Foley attorneys populate the Senior Living             had other changes in your finan-          and that money is potentially
        decor and clothes. Suddenly, fru-           robust spending for years, if ever.
                                                                                               both in Southeastern Michigan and nationally are                           Private Equity Matchmaker database with client               cial situation, your tax bill is likely   income to you.”
        gality is in style.                             “People are not saving; they
                                                                                               looking for.”                                                              data, the tool automatically searches for matches            to be lower and you could be due a            Under certain circumstances,
           Grace Case, 38, of Syracuse,             are building financial bomb shel-
                                                                                                   Senior Living Private Equity Matchmaker brings                         based on key attributes including transaction size,          larger refund.                            you may not have to pay taxes on
        N.Y., is a self-described recover-          ters,” said Mark Stevens, who
                                                                                               together Foley clients in this industry from around                        development stage, facility type and geographic                  You might find yourself eligi-        that forgiven debt. “It has to be
        ing creditaholic. For 13 years, she         runs a management consulting
                                                                                               the world who are seeking capital for acquisitions,                        region. When a match is identified, the system gen-          ble for a broad range of credits          your main residence, not a rental,
        charged it all — cars, clothes,             firm, MSCO, in Rye Brook, N.Y.
                                                                                               capital improvements or new construction with those                        erates an e-mail notifying the Foley attorneys of their      that you didn’t qualify for before.       not a vacation home,” said Perl-
        repairs, vacations. She’d make                  Matthew Conrad, a financial                                                                                                                                                    Among them: the Earned Income
                                                                                               who are actively pursuing private equity investment                        clients’ potential compatibility.                                                                      man.
        only the minimum card payments              manager at Complete Wealth                                                                                                                                                         Credit, education credits and the             Also, the forgiveness cannot be
        to sustain her buying spree for             Management in Orange County,               opportunities, classified as “seekers” and “sources.”                         There is broad interest in such a software tool.
                                                                                                   “Senior Living Private Equity Matchmaker comes                         Aligning parties that seek and provide capital has           Recovery Rebate Credit.                   more than $2 million.
        her and her family, which                   Calif., says he knows of people                                                                                                                                                        The stimulus checks that peo-             Economists have said the coun-
        includes her husband and two                who drive a BMW or Mercedes                at a time when access to private equity and debt is                        long been a challenge in the senior living field, said
                                                                                               more important than ever,” Okaty said. “This tool is                       John O’Connor, editorial director, for both Long-            ple received last year actually were      try entered into recession in
        children.                                   and eat macaroni and cheese for                                                                                                                                                    an advance payment on the Recov-          December 2007. Compared with
           But after being laid off 2 1/2           dinner several nights a week. That         not intended to replace the existing means of finding                      Term Care News and Assisted Living magazines.
                                                                                               capital that are currently available to those in the                          “The beauty of this tool is its ability to pre-screen     ery Rebate Credit. Initial eligibili-     previous recessions, consumers
        years ago from her job as an                suggests some are making an                                                                                                                                                        ty was determined based on 2007           are being hit particularly hard this
        accountant, she landed another              awkward shift from free-spending           senior living arena, but rather to enhance them by                         candidates. It creates good fits. The benefits for both
                                                                                               providing a marketplace for seekers and sources to                         sides include smoother transactions and better rela-         tax returns.                              time. The recession helped push
        accounting job that cut her salary          habits and are reluctant to give                                                                                                                                                       If your financial circumstances       about 2.25 million homes into
                                                                                               connect and form mutually beneficial relationships.”                       tionships,” O’Connor said.
        from $60,000 to $40,000. It was             them up.                                                                                                                                                                           changed, you may qualify for the          foreclosure in 2008, according to
                                                                                                   The matchmaker software program allows firm                               Senior Living Private Equity Matchmaker is one
        impossible to meet minimum                      Today’s consumers might even                                                                                                                                                   rebate now, even if you didn’t            Federal Reserve estimates. In
                                                                                               attorneys to significantly expand their own individ-                       of many progressive Foley technology offerings
        payments on her card balances.              start to rival their penny-pinching,                                                                                                                                               when the initial payments were            December, the Mortgage Bankers
                                                                                               ual networks with a few keystrokes. And immediate-                         that the firm uses to help separate it from other
           Now, the Cases are on a strict           Depression-era grandparents.                                                                                                                                                       made.                                     Association said 1 in 10 American
                                                                                               ly every attorney can access his or her own network                        firms. Foley has been named to the Information-
        budget. They take “staycations,”                “The generation that lived                                                                                                                                                         If you did get a check, you also      homeowners with a mortgage was
                                                                                               of more than 1,100 colleagues globally, Okaty said.                        Week 500 list for three consecutive years (2006 -
        grow their own vegetables, buy              through the Great Depression was                                                                                                                                                   may qualify for an additional cred-       in foreclosure or behind in pay-
                                                                                                   There are many instances where this tool has been                      2008) for innovative client-focused technology that
        only used cars and pre-pay cell             very conservative in their spend-                                                                                                                                                  it if you added a child to your fam-      ments. More than 10 million peo-
                                                                                               beneficial. Recently a developer in southern Califor-                      enables clients to better manage their legal depart-
        phones. Case hasn’t used a credit           ing and aggressive in savings,”                                                                                                                                                    ily in 2008.                              ple are unemployed.
                                                                                               nia contacted the firm about potential investors that                      ments.
        card in two years. And she’s sav-           said Scott Hoyt, senior director of                                                                                                                                                    Through 2008, Treasury                    For people who find they don’t
                                                                                               might be a part of Foley’s client base. Okaty entered                         Foley also was named to CIO magazine’s 2007
        ing more.                                   consumer economics at Moody’s                                                                                                                                                      processed more than 118 million           have the money to pay their tax
                                                                                               it into a database and populated it in case his col-                       CIO-100 list, which comprises global companies
           “It’s really a liberating feel- “I think we’re                                                                                                                                                        stimulus payments totaling about          bills, experts have this advice:
                                                                                               leagues might have some leads.                                             demonstrating technological innovation in improving
        ing,” she said. “If you want some-          going to have a set of consumers                                                                                                                                                   $96 billion. The IRS expects about            —Pay as much as you can
                                                                                                   “It helps me better manage my time and work                            products, services and relationships with clients.
        thing, you have to have the                 who are moving in that direction                                                                                                                                                   $10 billion in Recovery Rebate            when you file your taxes.
                                                                                               more efficiently,” Okaty said. “So instead of setting                         Think of it as a dating tool for investors and
        money for it.”                              because they don’t have that                                                                                                                                                       Credits in 2009.                              —Consider asking the IRS for
                                                                                               (this request) aside for later, I can take just a few                      entrepreneurs. Okaty said that in the past, it might
           Many economists think the                much faith in their assets.”                                                                                                                                                           The credits are $600 for those        an installment agreement to pay
                                                                                               minutes and upload the information into the software                       take a few phone calls and a lunch meeting to deter-
        savings rate will keep rising, per-                    ——————                                                                                                                                                                  filing individually, $1,200 for joint     over time. There is an application on
                                                                                               and immediately it is available as part of the firm’s                      mine that two parties weren’t a good match to enter
        haps as high as 6 percent or more.              AP Business Writers Anne                                                                                                                                                       filers and $300 for each child.           line. “The general rule is that if your
                                                                                               network of resources.                                                      into a financial partnership.
           So where’s the money going?              D’Innocenzio and Eileen AJ Con-                                                                                                                                                        The Earned Income Tax Credit          bill is $25,000 or less the IRS will
                                                                                                   “Now we just all have to get into the habit of                            “We let the software do all the work for us,”
        To savings accounts? To debt                nelly in New York, Dave Carpen-                                                                                                                                                    was designed to help low-income           be pretty amenable to an installment
                                                                                               checking this tool on a regular basis or when we know                      Okaty said. “We get people together who are com-
        reduction?                                  ter in Chicago, Stephen Singer in                                                                                                                                                  workers by offsetting part of their       agreement,” Perlman said.
                                                                                               there might be clients looking for investors or hoping                     patible which benefits everyone because nothing is
           No one knows for sure. But               Hartford, Conn., Mark Jewell in                                                                                                                                                    Social Security and Medicare                  —Look for other sources of
                                                                                               to invest in good ideas or businesses,” he added.                          more valuable that time in our business.”
        Robert Frank, Cornell University            Boston and David Pitt in Des                                                                                                                                                       taxes. Since it boosts take-home          payment, including putting the bill
        economist, says it doesn’t much             Moines, Iowa, contributed to this                                                                                                                                                  pay, it is meant to provide an            on a credit card. But, beware of the
        matter.                                     report.                                                                                                                                                                            incentive to work. The maximum            interest rate the credit card compa-
                                                                                                   CLASSIFIED ADVERTISEMENTS                                                                                                           income limit is $41,646. That
                                                                                                                                                                                                                                       declines based on filing status and
                                                                                                                                                                                                                                                                                 ny charges — it could be higher
                                                                                                                                                                                                                                                                                 than the one charged by the IRS.
                                                                                                                                                                                                                                       the number of children in the                 —Some 401(k) plans allow
                                                                                                                                                                                                                                       household. The maximum credit             hardship withdrawals to pay taxes.
                                                                                                                                                                                                                                       for 2008 is $4,824, up from               However, these distributions are
                                                                                                OFFICE SPACE AVAILABLE                                        PERSONAL                                   FOR      RENT
                                                                                                                                                                                                                                       $4,716 in 2007.                           taxable and may be subject to
                                                                                                                                                                                                                                           Lemons says the IRS is paying         penalty. “It’s not a great solution,”
                                                                                                                                                                                                                                       close attention to the hard times         Perlman said. “You’re getting
                                                                                                BINGHAM OFFICE PARK                                                                            NEED FURNITURE?                         and wants Americans to take               taxed on money you’re using to
                                                                                                    LAW OFFICES                                                                                                                        advantage of every credit and             pay your tax.”

                                                                                                  DELUXE OFFICES FOR RENT
                                                                                                                                                        VOLUNTEERS                               AFR Furniture Rental
                                                                                                                                                                                                   has brand name furniture
                                                                                                                                                                                                                                       deduction due them. For those
                                                                                                                                                                                                                                       who owe back taxes, the IRS is
                                                                                                                                                                                                                                                                                     —Ask the IRS for a short-term
                                                                                                                                                                                                                                                                                 hardship extension, using form

                                                                                                                                                         MAKE THE
                                                                                                                                                                                                                                       offering some assistance.                 1127. However, the installment
                                                                                                              Reception,                                                                           available for lease or sale.            Taxpayers who lost a job, rely        payment or other extension options
                                                                                                          photocopy, library
                                                                                                                                                                                                 We have what you need for an          solely on Social Security or wel-         are usually easier to obtain.
                                                                                                                                                         WORLD GO
                                                                                                         services & secretary.
                                                                                                   To share available, attractive and                                                          apartment, home, cottage or dorm        fare, or who face “devastating ill-           —Offer to settle the tax liability
                                                                                                       professional office suite.                                                               room. Short- or long-term leases       ness or significant medical bills”        for less than the full amount owed.
                                                                                                             Call Judy at
                                                                                                            (248) 645-1700                                ’ROUND                                    give you flexibility and
                                                                                                                                                                                                      keep you on budget.
                                                                                                                                                                                                                                       may be able to have collection
                                                                                                                                                                                                                                       actions suspended.
                                                                                                                                                                                                                                                                                 This “offer in compromise” is dif-
                                                                                                                                                                                                                                                                                 ficult to obtain. To get it, there
                                                                                                                                                                                                           Call today                      For those facing financial hard-      must either be doubt that the full
                                    FOUNDED 1927                                                  5 Offices in Flint                                 Give it a Whirl! Volunteer!                     248.733.0344                      ship, missing a payment on an
                                                                                                                                                                                                                                       installment agreement with the
                                                                                                                                                                                                                                                                                 amount could ever be collected;
                                                                                                                                                                                                                                                                                 doubt that the tax liability is cor-
                                                                                                       Large Parking Area

                                                                                                      2 Conference Rooms                                                                                                               IRS won’t necessarily result in           rect; or what is called “effective
                                                                                                                                                       Ask how you can help.
                  Oakland County                                                                 NEAR THE FEDERAL, CIRCUIT AND
                                                                                                       DISTRICT COURTS
                                                                                                      CALL (810) 235-9028
                                                                                                                                                  Contact Candy Leitheim, Volunteer Manager
                                                                                                                                                   2360 StoneBridge Drive; Flint, MI 48532                Furniture Rental
                                                                                                                                                                                                                                       suspension of the agreement. The
                                                                                                                                                                                                                                       agency said people should call the
                                                                                                                                                                                                                                       IRS to discuss their situation.
                                                                                                                                                                                                                                                                                 tax administration,” with excep-
                                                                                                                                                                                                                                                                                 tional circumstances. To be eligible
                                                                                                                                                                                                                                                                                 for compromise in such a case, the
                   Legal News                                                                                                                        1.800.664.6334 or 1.810.733.7250
                                                                                                                                                   Visit our website
                                                                                                                                                                                                                                           The IRS has put together a
                                                                                                                                                                                                                                       series of answers to “What If ”
                                                                                                                                                                                                                                                                                 taxpayer must demonstrate that
                                                                                                                                                                                                                                                                                 paying the full amount would cre-
                                      (ISSN 1523-3146)                                              Call (248) 577-6100
                                                                                                     to place your ad                                          Volunteer locally               New Luxury Condos                       questions to help taxpayers in
                                                                                                                                                                                                                                       f inancial distress. They can be
                                                                                                                                                                                                                                                                                 ate economic hardship or would be
                                                                                                                                                                                                                                                                                 unfair and inequitable.
                                                                                                                                                                                                 DETROIT WATERFRONT
                                                                                                                                                           Your life will be enriched!
                                                                                                                                                                                                                                       found on its Web site, at                              ––––––––––
                     Published daily, Monday through Friday, by                                                                                                                                                                           On the Net:
                     The Detroit Legal News Publishing L.L.C.                                                                                                                                               , , , ,                    cle/0,,id201853,00.html.                      IRS web site:
                         Bradley L. Thompson II, President                                        OAKLAND COUNTY LEGAL NEWS                                                                               ANN ARBOR
                            Suzanne Favale, Publisher
                                                                                                     CLASSIFIED AD RATES                                                                                    , , , ,                    JOURNAL:
                          Tom Kirvan, Editor in Chief
                                                                                                                          (Now published daily, Monday-Friday.)
                             Eric Kent Franz, Editor
                       Christine Mobley, Assistant Editor
                                                                                                 DISPLAY RATES
                                                                                                 1 week — $14/column inch/day
                                                                                                 2 weeks — $13/column inch/day
                                                                                                                                              INSTRUCTIONS: All advertising
                                                                                                                                              insertion orders are due 48 hours
                                                                                                                                              prior to publication date. Orders can             Short- or long-term lease available.
                                                                                                                                                                                                                                       Review rises in rankings
                                                                                                 3 weeks — $12/column inch/day                be accepted by phone, by Fax or by                   Fully furnished spacious units.                              (Continued from page 1)
                    Paul Arlon, Director of Advertising Sales                                    weeks — $11/column inch/day                  writing.                                          1, 2 and 3 bedroom units available.        Ackall expects the journal’s rise in the rankings to continue because
             Claudia Szerlag & Deborah James, Graphic Designers                                  Inch is approximately 7 lines                Advertising Dept.
                                                                                                 with 4 to 5 words per line.                  1409 Allen Drive, Suite B                                                                of the past and present Law Review membership. “The rise in rankings
                      Kathy Shamblin, Production/Internet                                                                                                                                         Call
                                                                                                                                              Troy, MI 48083-4003                                                                      shows that the Michigan State Law Review is making a significant con-
                     Ban Ibrahim, Circulation Coordinator
                                                                                                                                                                                                  TEMPORARY VIP SUITES
                                                                                                 BOX NUMBERS are available at                                                                                                          tribution to the legal community through the articles we publish.”
                                                                                                 $6.00 per ad. Please request a
                                                                                                 box number assignment when                                                                                                                Washington & Lee determines a law journal’s rank using a compos-
                    1409 Allen Drive, Suite B, Troy, MI 48083-4003                               placing ad.                                                                                                                           ite of a journal’s impact-factor and total cites-count during the preced-
           Mailing Address: 1409 Allen Drive, Suite B, Troy, MI 48083-4003                                      248-577-6100              Fax No. 248-577-6111                                                                         ing eight years. Impact-factor is the average number of annual citations
                 Telephone: 248-577-6100; Toll free: 1-800-875-5275                              All real estate advertised herein is subject to the Federal Fair Housing Act, which
                                                                                                 makes it illegal to advertise any preference, limitation, or discrimination based on
                                                                                                                                                                                                   Classified Ads                      per article in each issue. The cites-count is the total number of citations
                               Facsimile: 248-577-6111                                           race, color, religion, sex, handicap, familial status, or national origin, or intention to     are now published                      to the journal over the past eight years. The ranking takes into account
                                                                                                 make any such preference, limitation, or discrimination.
                                                                                                                                                                                                  Monday through                       citations in cases, other journals, and other external sources.
         SUBSCRIPTION RATE:                                                                      We will not knowingly accept any advertising for real estate which                                                                        Complete rankings and a description of the methodology are avail-
         One year                            $45
                                                                                                 is in violation of the law. All persons are hereby informed that all                               Friday in the                      able at
                                                                                                 dwellings advertised are available on an equal opportunity basis.
                                                                                                                                                                               EQUAL HOUSING
                                                                                                                                                                               OPPORTUNITY        Oakland County                           Founded in 1931, the Michigan State Law Review is edited and pub-
                        Subscriptions, payable in advance, are non-refundable
                                                                                                 The Oakland County Legal News and its advertisers assume no financial responsi-                    Legal News.                        lished entirely by students at Michigan State University College of Law.
                                                                                                 bility for typographical errors in classified advertising but will reprint without charge
         POSTMASTER: Notify our office of any change in subscriber address by sending USPS
                                                                                                 a corrected version of the ad. The Oakland County Legal News will be responsible               Call 248-577-6100                      The Law Review publishes four issues per year and also sponsors sym-
         Form 3579 to our business office at 1409 Allen Drive, Suite B, Troy, MI 48083-4003.                                                                                                                                           posia focusing on current legal topics. For more information about the
         Periodicals postage paid at Troy, Michigan, and additional mailing offices.             for one incorrect insertion only.                                                               to place your ad!
                                                                                                                                                                                                                                       Law Review, visit

Shared By: