by Janet Kanan, EA | Oct 12, 2022 | Tax
If you’re interested in investing in tax-free municipal bonds, you may wonder if they’re really free of taxes. While the investment generally provides tax-free interest on the federal (and possibly state) level, there may be tax consequences. Here’s how the rules...
by Janet Kanan, EA | Feb 3, 2022 | Tax
If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you should carefully record your expenses in order to claim all of the tax deductions to which you’re entitled. And you want to make...
by Janet Kanan, EA | Jul 21, 2020 | Business, Tax
There’s a new IRS form for business taxpayers that pay or receive nonemployee compensation. Beginning with tax year 2020, payers must complete Form 1099-NEC, Nonemployee Compensation, to report any payment of $600 or more to a payee. Why the new form? Prior to 2020,...
by Janet Kanan, EA | Apr 10, 2020 | COVID-19
Michigan has started sending out this notice regarding unemployment compensation: “The Unemployment Insurance Agency records show you recently established a claim for unemployment benefits. This notice is to advise you that an addition to your weekly benefit amount,...
by Janet Kanan, EA | Dec 2, 2019 | Blog, News
VISA/Mastercard Settlement to Merchants On December 13, 2019 the Court granted final approval to a settlement filed on September 18, 2018 in the amount of $5.54 billion. The lawsuit is about claims that merchants paid excessive fees to accept Visa and...
