Tax Tips

Category: Tax Tips

Michigan Tax Refund Status: How To Check Your Status

If you are a Michigan resident waiting on your state tax refund, you are not alone. Each year, thousands of taxpayers ask, “Can I track my Michigan tax refund?” The good news is, yes, you can. The State of Michigan provides ways to check your refund status so you can stay informed and plan accordingly. …

Free IRS Tax Filing with Direct File

Free IRS Tax Filing: Meet Direct File If you’ve ever shuddered at the thought of paying for tax preparation software, rejoice: the IRS now offers Direct File, a free way to file your federal tax return directly with the IRS. No more hunting for coupons and hidden fees—just an open-source, government-powered system that lets eligible …

Can You Deduct IVF and Surrogacy Expenses? What Taxpayers Need to Know

IRS Ruling Clarifies Medical Expense Deductions for Fertility Treatments and Surrogacy IRS Allows Medical Deduction for IVF, Not for Surrogacy Costs: The IRS has permitted a medical expense deduction for certain costs tied to a married couple’s in vitro fertilization (IVF), such as medical screenings, fertility medications and treatments, and the retrieval of eggs and …

Where’s My Michigan Tax Refund? What To Expect After Filing Taxes

  Tax season can be confusing at the best of times, especially when awaiting your Michigan state tax refund. Understanding how the refund process works and what to expect can help ease concerns and set realistic expectations. If you’re wondering where your Michigan tax refund is, how long it will take to receive it, and …

How Retirement Withdrawals Can Impact Your Medicare Premiums

Retirement Withdrawals & Medicare In 2025, retirees often encounter two big surprises when it comes to Medicare: 1. Medicare Isn’t Free: While Medicare provides health coverage for those over 65, the costs vary based on income and coverage choices. 2. Premiums Can Fluctuate: Medicare Part B and Part D premiums are tied to your income …

IRS Reminder: Pensioners 73+ Must Take RMDs to Avoid Penalties

IRS to Pensioners: Don’t Skip Your RMDs or Risk a Hefty Tax Bite The IRS has issued a no-nonsense reminder to pensioners: if you’re 73 or older, it’s time to take your Required Minimum Distributions (RMDs). Failure to do so could land you with a tax penalty that might make you wince—a hefty up-to-25% bite …

What is the Difference Between Tax Credits and Tax Deductions?

When it comes to tax planning, knowing the difference between tax credits and tax deductions can make a big difference in how much a business or individual pays in taxes. Both are designed to reduce your tax burden but they work differently. Tax credits give you a dollar for dollar reduction in the amount of …