Significant business tax provisions in the One, Big, Beautiful Bill Act
July 16, 2025 | Brian Hare, CPA, CGMA
All Businesses need to know about the One, Big, Beautiful Bill Act and how it will affect the coming years.
Read MoreAll Businesses need to know about the One, Big, Beautiful Bill Act and how it will affect the coming years.
Read MoreWishing you and your loved ones peace and happiness this holiday season.
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Starting to take effect on January 1, 2023 the minimum wage in Michigan: Will increase from $9.87 to the new rate of $10.10. This is a $0.23 increase from the current rate. The 85% rate for minors aged 16 and 17 will increase from $8.39 to $8.59 per hour. This is a $0.20 increase from […]
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May the good things of life be yours in abundance, not only at Thanksgiving but throughout the coming year! From all of us at Hare CPAs
High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Here’s an overview of the taxes and what they may mean for you. 3.8% NIIT This tax applies, in addition to income tax, on your net investment income. The NIIT […]
Operating a business as an S corporation may provide many advantages, including limited liability for owners and no double taxation (at least at the federal level). Self-employed people may also be able to lower their exposure to Social Security and Medicare taxes if they structure their businesses as S corps for federal tax purposes. But […]