The holiday season often prompts people to give money or property to charity. If you plan to give and want to claim a tax deduction, there are a few tips you should know before you…

Rent is any amount paid for the use of property that a small business doesn’t own. Typically, rent can be deducted as a business expense when the rent is for property the taxpayer uses for…

The premium tax credit is a refundable credit that helps eligible individuals and families with low or moderate income afford health insurance purchased through a Health Insurance Marketplace. To get this credit, you must meet…

Americans who are nearing retirement age have about $200,000 in their 401(k) accounts on average, a new survey found. According to Vanguard’s “How America Saves 2019” report, published this month, the average American worker aged…

The 2026 tax filing season officially kicked off this week, and the IRS is now accepting and processing federal income tax returns for the 2025 tax year. Taxpayers have several options for filing electronically, with…

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…

Today, 2019 tax returns are due. Taxpayers should remember to file or request an extension of time to file and pay any taxes they owe by the July 15 deadline to avoid penalties and interest….

Form 1099-K, Payment Card and Third-Party Network Transactions, is an IRS form that is used to report certain payment transactions. If taxpayers receive a Form 1099-K, they should use that information with their other tax records…