We here at Vereecke, Simescu & Associates feel that an informed client is our best customer. We know that there is a lot of information on the Internet and it can be tough to determine what is valuable. That is why we have selected the following article(s) for you to view. ********Changes on the Horizon******** Alert:  Michigan employers employing 2 or more employees who are at least 16 years old are required to pay the Michigan minimum wage of $7.40 per hour beginning July 1, 2008.  The federal minimum wage is set to increase to $6.55 per hour July 24, 2008, but is less than the required Michigan minimum wage; where an employee is subject to both the state and federal minimum wage laws, the employee is entitled to the higher of the two minimum wage rates.

American Opportunity Credit For tax years beginning in 2009 and 2010, the Stimulus Act includes taxpayer-friendly modifications to the Hope Scholarship higher education tax credit (Hope Credit).   Prepare Financially for a Possible Job Loss Fresh reports of layoffs abound, and the unemployment rate continues to climb. It?s now over 10% in quite a few states, and the national rate could be there before long.   Working May Decrease Your Social Security Benefits Many taxpayers currently underemployed due to recent economic conditions may consider applying for social security retirement benefits earlier than they previously planned to supplement their income. But, continuing to work while receiving those benefits may cause their benefits to be reduced below the anticipated amount.