Questions For Your CPA

My father died and I am the executor. What do I do? When this question gets asked of me, my client is typically in a panic. I do not know of many who relish the job of executor, no matter how prepared you may be. Family dynamics can be tricky and many of us will […]

Common Mistakes To Avoid In Starting Your Business

Approximately 20 percent of small businesses will fail within their first year. When you consider that there were about 30.2 million small businesses in the country as of 2018, you can begin to get an idea of just how serious this situation is. It means that every year, about 6.04 million small businesses celebrate their […]

4 Strategies For Mastering Retirement

In retirement, there are new things to account for, like Social Security, required minimum distributions, Medicare premiums, and maybe even long-term care costs. Our investment behaviors can change, too — without a steady paycheck, we may develop greater loss aversion or fear of losing money in the investment markets. Yet some things don’t change, like […]

4 Habits That Could Be Costing Your Business Time and Money

Even the savviest of small and medium-sized business (SMB) owners and operators have some common and seemingly insignificant business habits that creep into day-to-day work. All told these bad habits can seriously impact a business’ longer-term profitability and viability. Maybe you’re dealing with tangible, finance-related issues. Or less visible but equally destructive business practices are […]

Are You Taking Advantage of Michigan’s Pass-Through Entity Tax?

Michigan’s Governor signed legislation on December 20, 2021, allowing Michigan pass-through entities to elect to pay a newly enacted 4.25% income tax and for the owners of those entities to claim a tax credit against that tax on their Michigan individual income tax returns. With the passage of the TC&JA, a $10,000 cap was placed […]

9 Facts About HSAs That Might Surprise Our Clients

Health savings accounts (HSAs) are projected to surpass $100 billion in assets in 2023, showing that consumers are realizing the potential power of HSAs, including as a significant wealth-building tool. The fact that the HSA individual contribution limit is lower than that for deductible contributions to an individual retirement account (IRA) has led to HSAs […]

3 Critical Shifts For Clients In Retirement

Whether we are your business advisors or your tax preparers,  if you are one of the 10,000 Baby Boomers turning 65 every day, your need for retirement planning has never been greater. Retirees need to make three critical shifts in thinking to obtain the most enjoyment out of their golden years, and as CPAs, we […]

Retirement transition: Crucial decisions

As CPAs, we encounter our clients’ life events many times, while each client encounters them just once. This experience allows our team to compare, learn, and develop tools to give expert advice to all our clients. When it comes to transitioning to retirement, Social Security is a big consideration, and clients look for our advice. […]

Why it’s romantic to talk about money

They say money can’t buy love, but it can buy heartbreak. Love and finances are exceedingly complex subjects, so it makes sense that it only gets more complicated when you combine them. With Valentine’s Day just around the corner, the AICPA® Financial Literacy Commission encourages Americans to give their loved ones the gift of an […]

Tax And Financial Planning Tips For Retirement

Retirement is an exciting time. After a lifetime of hard work, you’re finally ready to focus on family, travel, and hobbies. But just because the work stops doesn’t mean taxes do. When your income is fixed, taxes can take on a whole new hue. Whether you’re retiring now or simply thinking about your future, here […]