» Tax Preparation

Inherited IRA Distributions Beneficiary Requirements

Individual retirement accounts, or IRAs, are a tax-advantaged way to save for retirement. If you have an IRA, you know that there is a stiff early withdrawal penalty for early withdrawals (before age 59 ½, with certain exceptions). You probably also… Read More
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Year-End Tax Planning for 2022

As of this writing, we are only about six weeks away from the end of 2022. If you have a lot to do before the end of the year, you’re not alone. And if year-end tax planning isn’t on your list, you may want to add it. It’s tempting to put off t… Read More
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Cost of Living Adjustment Numbers for 2023

The Internal Revenue Service recently announced the 2023 inflation adjustments for dozens of tax provisions. These cost of living adjustments affect everything from the standard deduction and marginal tax rates to contribution caps for health savings… Read More
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What is the Michigan State Real Estate Transfer Tax (SRETT) Refund Rule?

In Michigan, certain homeowners are eligible for a refund of the state real estate transfer tax (SRETT) when they sell their homes. Many homeowners are unaware of the availability of the SRETT refund, which means that they could be leaving hundreds o… Read More
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2022 Tax Year Inflation Adjustments

Inflation has been in the news lately, with impacts on everything from the price of a gallon of milk to the price of a gallon of gas. But consumer goods aren’t the only things affected by inflation: your tax rate is, too. It’s a good idea to unde… Read More
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2021 Year-End Tax Planning Checklist

If you could travel through time, it probably wouldn’t be to visit your future self next April as you do your taxes. But next April, you might wish for the ability to travel back in time to 2021 and take some actions to make that tax preparation ea… Read More
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Update: Proposed Changes to Estate Tax Laws

Benjamin Franklin famously said, “In this world, nothing can be said to be certain except death and taxes.” The saying is true as far as it goes. But where death and taxes meet, change seems to happen with every administration, and not always for… Read More
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Five Ways Small Business Owners Can Lower Taxes

Most people who become small business owners do so because they have a great idea, service, or product that they want to share. If you are a small business owner, you probably know a lot about the subject matter of your business, whether that’s… Read More
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Year End Tax Planning Tips

Whether you are having a good year, rebounding from recent losses, or still struggling to get off the ground, you may be able to save a bundle on your taxes if you make the right moves before the end of the year. Defer your income Income is taxed in… Read More
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What Will Happen With The Federal Estate Tax?

The fate of the federal estate tax is still unclear. What is clear is that the results of the next election will play a significant role in the future of the federal estate tax system. Here is a little bit of historical background and the most likely… Read More
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