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-