Tax Code Changes Tax code changes underway could allow small businesses to use tax benefits available only to large corporations in the past. Small businesses will not be entitled to the all of the benefits as large corporations. It is important...
Read MoreTax Relief for the Victims of the Severe Storms in Michigan
The IRS is offering tax relief for the victims of severe storms in Michigan beginning on June 22, 2017. Affected individuals or businesses who reside in Bay, Gladwin, Isabella and Midland Counties and the Saginaw Chippewa Tribe within Isabella...
Read MoreSave Money with Education Tax Credits
Education Tax Credits The beginning of school is a good time to learn about the tax credits. These tax benefits can help offset qualifying education costs. So if you’re paying education costs for yourself, a spouse, or a dependent you may...
Read MoreYour scholarship, fellowship or grant may be tax-free
Scholarship, Fellowship or Grant may be Tax-Free If you received a scholarship, fellowship or grant payment for a degree (whether an undergraduate or a graduate) at an educational institution to aid in the pursuit of your studies, it’s...
Read MoreGambling winnings and Losses a Tax Write Off You Shouldn’t Forget
With Mega Millions and the Powerball both over $300 million this week we would like to remind taxpayers that they must report all gambling winnings as income. They can also itemize deductions to claim any gambling losses on their return...
Read MoreThe Internal revenue service has started mailing notices to taxpayers whose ITIN’s expire at the end of 2017
The IRS has started mailing letters this month to more than 1 million taxpayers with expiring Individual Taxpayer Identification numbers urging them to renew as quickly as possible to avoid delays in refunds. ITINs with the middle digits of 70...
Read MoreFIVE TIPS FOR STARTING A NEW BUSINESS
FIVE TAX TIPS FOR STARTING A NEW BUSINESS When starting a new business, you may find the following tax tips helpful: 1. Business Structure: An early choice to make is to decide on the type of structure for the business. The most common types are...
Read MoreTeachers Don’t Forget Your Tax Benefits
Tax Benefits for Teachers There are special tax benefits for teachers. Teachers, administrators, and aides should know what to keep track of to decrease your tax burden at tax time. There are three key work-related tax benefits. These benefits...
Read More