March 2022 Issue
Boats, Wine and VRBOs: What the wealthy invest in (and maybe you can too)
You’ve got money in the bank and you want to invest it. What to do?
Dan Stiebel of Coldwell Banker Commercial says the appeal of owning a physical asset such as property can’t be discounted.
“It’s a little more work than buying a stock with a dividend," he said. "It’s not for everybody."
He said the most attractive property is a single tenant net-leased property where the tenant has a long-term lease and all improvements and maintenance are their responsibility. He points to franchise operations as the most visible such entities.
“The owner gets a dividend like a stock,” he …
Making A Splash: Local marinas talk pandemic-era spike in boating demand, waitlists for slips, plans for 2022
Has boating ever been more popular?
It’s a reasonable question to ask if you take a look at recent market trends, which show the pandemic as the inciting incident that sent boat sales into overdrive. According to the National Marine Manufacturers Association (NMMA), sales of boats and related marine products or services in the United States spiked 9% in 2020 to $47 billion.
That number was a 13-year high for the industry, and while things …
Michigan Flow-Through Entity Tax: The state and local tax workaround
Recent legislation from the State of Michigan could result in significant federal tax savings for the owners of flow-through entities that are otherwise limited in their ability to claim itemized deductions for state and local taxes (SALT).
After announcing a new tax, the first thing that comes to mind is usually not saving tax dollars, but Michigan's newly enacted elective flow-through entity tax will do just that.
As part of the 2017 Tax Cuts and …
Local Laser Component Manufacturer Part of a $2B Enterprise
Nearly a year ago, high-tech giant Coherent Inc. bought Traverse City laser component manufacturer Electro-Optics Technology.
It’s more than just a name change. Becoming part of publicly traded Coherent gives Electro-Optics an international reach that translates locally into increased production, new hires and improved benefit packages.
One motivation for Coherent buying Electro-Optics was its clean room capacity, which is a vital tool in laser component manufacturing.
“Coherent has evolved with the technology,” said General Manager …