How Much Can A Small Business Make Before Paying Taxes?

How Much Can A Small Business Make Before Paying Taxes?

Tax season can be a stressful time for small business owners, as there are many things to consider. If your business hasn’t made any money yet, you might wonder whether you even need to file your taxes for the year. On the other hand, if your business is already...
How Long Does It Take To Do Taxes?

How Long Does It Take To Do Taxes?

The time it takes to complete your taxes can vary depending on your situation. Here’s an overview of how long it typically takes to file IRS tax returns. According to the IRS, most taxpayers spend about 13 hours preparing their returns. Specifically, the IRS reports...
How Is Rental Income Taxed In Michigan For Landlords?

How Is Rental Income Taxed In Michigan For Landlords?

Owning rental property in Michigan is rewarding but requires understanding how rental income is taxed in Michigan. Staying compliant with tax laws helps landlords maximize profits. Understanding these rules ensures you meet both state and federal obligations...
What Are The Top Ways To Avoid A Tax Audit?

What Are The Top Ways To Avoid A Tax Audit?

Facing an IRS audit is a scenario no taxpayer wants to experience. While audits are relatively rare, the idea of being scrutinized by the IRS can be stressful. The good news? There are practical steps you can take to significantly reduce your chances of being audited....
Why Hire A Business Lawyer For Your S Corporation In MI?

Why Hire A Business Lawyer For Your S Corporation In MI?

When starting a business, taxes play a significant role in determining how and when to form your company. Small businesses and sole proprietors often avoid corporations due to double taxation but also seek to minimize the risks associated with sole proprietorships or...