by Janet Kanan, EA | Mar 28, 2024 | Uncategorized
Change is near; this is your call to action! In three weeks, Paymentus will replace PayConnexion as the payment platform for business taxes through Michigan Treasury Online (MTO). If this is the first message you are receiving about this change, get caught up at...
by Janet Kanan, EA | Feb 15, 2024 | Tax, Uncategorized
Did you make large gifts to your children, grandchildren or others last year? If so, it’s important to determine if you’re required to file a 2023 gift tax return. In some cases, it might be beneficial to file one — even if it’s not required. Who must file? The annual...
by Janet Kanan, EA | Sep 20, 2023 | Business, Tax, Uncategorized
In recent years, merger and acquisition activity has been strong in many industries. If your business is considering merging with or acquiring another business, it’s important to understand how the transaction will be taxed under current law. Stocks vs. assets From a...
by Janet Kanan, EA | Jul 28, 2023 | Business, Tax
If you play a major role in a closely held corporation, you may sometimes spend money on corporate expenses personally. These costs may end up being nondeductible both by an officer and the corporation unless the correct steps are taken. This issue is more likely to...
by Janet Kanan, EA | May 31, 2023 | Blog, Business, Tax
If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or try to create records months (or years) later. In doing so, they fail to meet the strict substantiation...
