Dec 20, 20213 minNifty NFTs and TaxesNFT stands for Non-Fungible (sounds like fun-juh-buhl) Token. NFTs are digital files that contain certificates of ownership and authenticity
Nov 16, 20212 minBuild Back Better Act The Build Back Better Act is expected to pass through the House this week, following the passage of the recent Infrastructure Bill.
Oct 15, 20212 minThe Consolidated Appropriations Act of 2021With the 2021 tax season quickly approaching, much of the national focus has been on the current administration’s proposed changes for...
Aug 30, 20212 minAdvanced Child Tax Credit Payments UpdateWhile receiving the monthly payments for the advance Child Tax Credit may seem like a helping hand, for some families, it might make the...
Aug 30, 20212 minStudent Loan Interest DeductionIn August, the U.S. Department of Education announced that there will be a final extension of the pause on student loan repayment until...
Jun 23, 20213 minIRS rolls out two new online tools to help families manage Child Tax Credit Payments The IRS launched two new online tools designed to help families manage and monitor their Child Tax Credit Payments. These two new tools are
Jun 1, 20212 minEmployee Retention CreditThe American Rescue Plan Act of 2021 (ARPA) was passed in March which modified and extended the Employee Retention Credit (ERC) from June...
Apr 27, 20213 minChild Tax Credit for 2021There have been significant enhancements made to the child tax credit (CTC) by the American Rescue Plan Act of 2021 (ARPA).
Feb 25, 20212 minRecovery Rebate CreditDidn’t receive the Economic Impact Payments or received payments less than the full amount? You could qualify for the Recovery Rebate Credit
Dec 28, 20202 minTax Changes under Biden on the Horizon? A few things to consider as the calendar turns to 2021If new tax law is passed, it is a real possibility that these changes could be made retroactive to January 1, 2021.
Dec 22, 20202 minPPP Loan Expense DeductibilityOn Monday December 21, 2020, the House of Representatives and Senate approved the COVID-Related Tax Relief Act of 2020 (COVIDTRA). This act
Nov 19, 20202 minNew Rules for 2020 RMDsThere are two recently enacted laws which effect required minimum distributions (RMDs) from traditional IRAs, 401(k)s, and ...
Oct 21, 20202 minAre you wondering why you received interest on your 2019 Federal income tax refund? Close to 14 million individual taxpayers who filed their 2019 Federal income tax returns on time and received a refund will or...
Aug 12, 20202 minIs Your Online Business Overpaying Michigan Sales Tax? Possibly due to the Marketplace Facilitators Tax Law. Third-party sellers on websites such as Amazon, Etsy, Walmart, UberEATS, Shopify, etc.
Jul 21, 20202 minMichigan Small Business Restart ProgramSmall businesses and nonprofits may apply for grants of up to $20,000, and awardees will be announced no later than September 30th.
May 13, 20202 minTax Advantages of Hiring your ChildrenAs a business owner, hiring your children has always been a great tax planning strategy. However, with the passing of the Tax Cuts and Jobs
Mar 20, 20202 minCOVID-19 ResourcesBeginning Monday, March 23rd, we have established the following BKC office guidelines until further notice:
Jan 3, 20201 minMI Obligation Assessment For UnemploymentNew for 2020, employers will no longer have the obligation assessment portion with the tax rates.
Dec 18, 20194 minTax Gain HarvestingWould you like to pay 0% federal income tax on your income and utilize one of the “loopholes” you hear about in the lengthy tax
Nov 18, 20194 minHow Are My Cryptocurrency Transactions Taxed? Cryptocurrency is rapidly growing with popularity around the globe. Make sure you are taking into account the tax implications.