Blog posts from: 2019
Explaining the taxability of professional athletes
Nonresident professional athletes must use the "duty days" method to determine the amount of income tax due to Michigan. Personal Service Income The formula for calculating the income tax due, is the player's personal service income multiplied by a fraction,...
Are concierge medicine expenses FSA-eligible?
According to a recent article from FSA Store, concierge medicine -- which is a "highly attentive" way to get healthcare -- is becoming increasingly popular. Essentially, patients pay extra fees in exchange for more personalized care and better access to...
The benefits of hiring veterans
It's a good business decision to hire veterans as studies have shown that veterans are more productive and have higher retention rates. The Institute for Veterans and Military Families (IVMF) published this titled brief which draws from academic literature to...
Be aware of new collections scam
According to the Michigan Department of Treasury, Michigan taxpayers with past-due tax debts should be aware of a new scam making the rounds through the U.S. Postal Service, according to the Michigan Department of Treasury. In the scheme, taxpayers are...
IRS proposes higher estate and gift tax exemption
According to a recent article from Bloomberg, the IRS has proposed a potential benefit for wealthy taxpayers, saying that individuals who give lots of gifts to their heirs under a generous but temporary provision of the 2017 Republican tax overhaul...