Tax Planning

What Are the Implications of Changing Residency on Estate and Tax Planning in Michigan?

Mar 12, 2024

Do You Winter Elsewhere? As is typical for a lot of Michigan residents, many people winter else...

Inherited IRA Distributions Beneficiary Requirements

Nov 22, 2022

Individual retirement accounts, or IRAs, are a tax-advantaged way to save for retirement. If you hav...

Year-End Tax Planning for 2022

Nov 11, 2022

As of this writing, we are only about six weeks away from the end of 2022. If you have a lot to do b...

What to Know About Portability

Aug 25, 2022

The months after the loss of a spouse are difficult for a variety of reasons, not the least of which...

Required Minimum Distributions and the Qualified Charitable Deduction

Aug 18, 2022

As people move into their seventies, a couple of things are likely to happen. They may become increa...

What Is the Michigan State Real Estate Transfer Tax (Srett) Refund Rule?

Apr 20, 2022

In Michigan, certain homeowners are eligible for a refund of the state real estate transfer tax (SRE...

Update: Proposed Changes to Estate Tax Laws

Apr 29, 2021

Benjamin Franklin famously said, “In this world, nothing can be said to be certain except death an...

What Does Biden’s Tax Plan Mean for Step-up in Basis?

Feb 23, 2021

During the 2020 presidential campaign, media coverage of the candidates’ tax plans was largely lim...

Take a Number: Important Tax and Retirement Planning Numbers for 2021

Jan 27, 2021

As you are probably aware, the Internal Revenue announces cost-of-living-adjustments (COLA) each yea...

Prepaid Tuition or 529 College Savings Plan: Which Is Best?

Sep 21, 2020

In the late 1970s, a student at a private college paid the modern equivalent of $17,680 per year to ...