Designers of Customer Window & Carpet Treatments
BLINDS
Draperies
Carpet
Pleat Shades
Vertical
Micro-Mini
Custom Bed
1 1/2" Hor. Blinds
US
SINGLE
MURRAY
GOLDENBERG
FINANCE
350-2420
Upholstering
market street shoppes
northwestern hwy., soutiffield
FREE ESTIMATES - GUARANTEED SATISFACTION
Joel Doliveck
Master
Photographer
737-2206
AUDREY PEARL
ALTERATIONS BY LILI
FREE CUT
OR COLOR
Formerly employed by Fancy This
I would like all my friends and customers to know that I
am now at Esther & Estettes in the Orchard Mall & look
forward to seeing you soon.
FREE CUT OR
TOUCH-UP COLOR.
CHOOSE ONE
OR THE OTHER
6355 Orchard Lake Rd.
In The Orchard Mall
West Bloomfield
When people hear we give free
cuts to new clients they don't
understand.
855-4717
They expect beauty school
drop-outs!! Dumb styling!!
What they get is the terrific
Veillette look, trendy cuts, perms,
coloring, frostings and great
stylists. The professional
Veillette cosmetologist.
For those who
want the finest custom
furniture at...
AFFORDABLE PRICES
We're so sure you will come back
for seconds we will do your first
one free.
ONE VISIT —
YOU'LL UNDERSTAND
The simplest cube to the most
intricate wall unit built to your
specifications by meticulous craftsmen.
EXPIRES MARCH 31, 1987
Selections for every room in your
home or office in fine woods, laminates,
marble, glass and specializing in...
OUTSTANDING LUCITE DESIGNS
Watt Tit
NEW CLIENTS ONLY
WITH THIS COUPON
HAIR, FACE, NAIL
& SUN TANNING
FULL SERVICE SALON
FOR MEN & WOMEN
IN niE ORCHARD MAIL 851-6520
SYNAGOGUE COUNCIL OF GREATER DETROIT
ANNUAL MEETING & ELECTION OF OFFICERS
CONGREGATION SHAAREY ZEDEK
TUESDAY, MARCH 17, 1987 - 8:00 PM
Guest Speaker: MR. ALAN FUNK
New Executive Director, Jewish Home for the Aged
The annual meeting is open to the clergy, professional staffs, officers and
Boards of Trustees of all synagogues and temples.
REFRESHMENTS WILL BE SERVED.
Adat Shalom Synagogue
Congregation Beth Abraham
Hollel Moses
Congregation Beth Achim
Temple Beth El
Beth Israel Congregation
Temple Beth Jacob
Congregation Beth Shalom
Birmingham, Temple
Congregation B'noi David
84
Friday, March 13, 1987
Congregation B'nai Israel
of West Bloomfield
Congregation B'nai Moshe
Downtown Synagogue
Temple Emanu-El
Temple Israel
Temple KoI Ami
Livonia Jewish Congregation
Shaar Hashomayim Synagogue
Congregation Shaarey Zedek
Congregation Tchiyah
THE DETROIT JEWISH NEWS
New Tax Law
Affects Investments
Now that the new rules of
the Tax Reform Act of 1986 are
in place, the challenge becomes
finding the investment op-
protunities that will emerge.
It's anyone's guess whether the
money once earmarked for tax
shelters will find its way into
equities. Will you, the con-
sumer, choose to invest or
spend any extra income you
may net as a result of the new
two-bracket system? Will
non-deductible credit pay-
ments further slow already
dragging retail sales?
(NOTE: If you are currently
paying non-deductible interest
on your outstanding debts, you
might want to consider the use
of a second mortgage or an
equity line of credit to make
that interest fully deductible
for 1987 and thereafter.)
No one can accurately pre-
dict the effect of such complex
and sweeping changes on in-
vestments, but I will now fly in
the face of sanity and offer my
predictions:
Bonds. The new law discour-
ages borrowing and may
weaken the economy in gen-
eral. Therefore, the demand for
money will be low. Interest
rates will remain flat for the
next 18 to 24 months and are
more likely to move down than
up. Investments in municipal
bonds and the stocks of electric
utilities, as well as mutual
funds whose portfolios contain
these financial vehicles, will
continue to be timely.
Real Estate. Everyone
knows that real estate will be a
poor investent under the new
law. Since the things that
"everyone knows" are consis-
tently wrong, it's enough to
make a contrarian's mouth
water. You should have at
least 20 percent of your in-
vestment portfolio in income
real estate. Or if you want to be
very conservative with this
portion of your money, you
should consider participating
mortgages and Real Estate In-
vestment Trusts (REITS). Both
of these investments will bene-
fit from low interest rates and
supply and demand factors.
Gold and Tangibles. Low
interest rates and low inflation
will continue to be a negative
force on metal prices and the
long-term downtrend will con-
tinue. This portion of your
portfolio should be less than
five percent.
Oil and Gas. It's easy to draw
the picture of higher oil prices
in the future. The questions
are: when will it happen, and
how do you participate? My
guess is later rather than
sooner. You should own your
Audrey Pearl is a certified
financial planner and
president of Pearl Advisory
Corp. in Southfield.
oil by buying shares of top oil
companies such as Exxon or
Texaco. These stocks will pro-
vide good dividends and possi-
ble appreciation while you
wait. Better still, look for a
good growth mutual fund in a
family of funds that maintains
these stocks, in a strong posi-
tion, within the portfolio.
Stocks. It's a trader's mar-
ket. We have already broken
out of a narrow range with vol-
atile swings to new records in
the stock market. Money man-
agers have large cash reserves
and this liquidity could take
the market up a long way.
Money will go into stocks and
growth mutual funds by de-
fault. This means that people
will find that this is the only
alternative, as other invest-
ment opportunities have lost
their appeal.
The new law will neither re-
duce nor simplify your taxes. I
do predict that the tax law will
change again soon. I would also
predict that there will be a
Technical Corrections Act in
1987 and that when President
Reagan leaves office we will
once again have Investment
Tax Credits and tax rates will
go up. This does not mean,
however, that there are no
longer ways to protect invest-
ments from the tax bite. There
still remain some tax-
favorable investment options
for your portfolio.
The first of these is the IRA.
Even though many will be un-
able to take advantage of the
tax deductible benefit that
IRAs carry, this investment
still retains its tax-deferred
aspect. This means that
monies invested in your IRA
will continue to grow tax-free
until you begin taking with-
drawals. While your IRA may
no longer be deductible, its
long-term tax benefits are still
quite favorable.
Owning a home is another
means of protecting capital
appreciation from taxes. The
value of your home can in-
crease over the long term with-
out any associated increase in
taxes. In addition, the deduc-
tion for mortgage interest paid
on first and second homes re-
mains intact under tax reform.
This applies not only to first
mortgages, but to second
mortgages and home equity
loans as well. Gains on the sale
of a principle residence may be
deferred as well. As long as the
proceeds are reinvested in a
new principal residence within
two years of the sale, no tax
liability is incurred.
As tax reform was being
formulated in Congress last
year, the insurance industry
was busy lobbying very
strongly to maintain the tax
advantages of certain insur-