The April 15 deadline to file federal income tax returns is coming up fast. Taxpayers who need more time to file, should request an extension by the filing due date. An extension gives people until…

Typically, people who are self-employed pay their federal income tax by making estimated tax payments. However, they aren’t the only ones that may need to pay estimated tax. Federal income tax is a pay-as-you-go tax….

Taxpayers who missed the April 15 filing deadline should submit their federal tax return as soon as possible. Those who missed the deadline to file and owe taxes should file as soon as possible to…

People with disabilities and their families can use Achieving a Better Life Experience accounts to help pay for qualified disability-related expenses. ABLE accounts are savings accounts that don’t affect eligibility for government assistance programs. Here are some key…

Mistakes and errors can happen, but most are easily avoidable when it comes to filing federal income tax returns. Taxpayers are encouraged to review their entire return before filing to make sure it is correct…

Family members who are paid to take care of a loved one may have tax responsibilities. This depends on whether they are considered an employee or provide their services as their own business. Let’s go…

The Michgan Association of CPAs is aware of an issue involving Michigan Department of Treasury (Treasury) notices indicating that certain 2025 estimated payments were not applied to taxpayers’ annual returns, despite confirmation that payments had…

Many people have hobbies – things they enjoy doing in their spare time – and some even make a little extra money from them. However, there’s a difference between a hobby and a business, especially…