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The recession due to COVID-19 could mean a surprise tax cut for those in Michigan. According to Bridge Michigan: “Michiganders could be in line for a surprise tax cut because of the coronavirus pandemic and recession – if state officials don’t stop it first. “A little-known provision in a 2015 road funding law signed by...
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Some have predicted that the nation’s economy will see growth this year. According to MiBiz.com: “The U.S. economy that got hammered by the COVID-19 pandemic this spring heads toward 2021 on the rebound, although a surge in cases during the fall and renewal of restrictions in many states may limit economic growth nationally early in...
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Some believe that the Michigan property tax could help the state. According to James M. Hohman with The Mining Journal: “Michigan lawmakers passed a temporary income tax hike in 2007 that’s still with us, and despite the COVID-19 pandemic, Michigan’s finances are looking good. Lawmakers can afford to lower the income tax if it is...
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Curious about the current state of small businesses in Flint? Consider this. According to Flint&Genesee.org: “The state of small business in Flint and Genesee County is going under the microscope in early 2021. “The Flint & Genesee Chamber’s Economic Development unit is working the Ann Arbor-based consultant EntryPoint to gain a deeper understanding of the...
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There’s a new business initiative in Flint created by women of color in the area. According to ABC 12: “Women entrepreneurs are showing just how strong their voices are as one through a new Flint-forward and business-focused movement. “It is called Black Owned Buyout. “’It’s really just sparking this movement of collaboration that we couldn’t have...
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“Bookkeeping for Dummies” states that without bookkeeping, it’s impossible to measure the true success or failure of your business dealings. You won’t know that your $2,000 per-month magazine ad campaign isn’t worth the investment. You’ll have no idea why you barely have enough money to operate your business, and you won’t know where the money...
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Owning a successful business and actually running one are two quite different things. You might have huge amounts of capital and plenty of regular customers, but your business won’t thrive if you don’t have effective bookkeeping skills as well — at least if you intend to run the financial side of things yourself.   Bookkeeping is an essential role that every...
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Dealing with taxes is a fact of life for small business owners. Annual expenditures for taxes for most owners are likely their largest outlay each year, exceeding rent or mortgage payments, marketing costs, and vehicle expenses (the only possible larger expenditure is payroll). Beyond payments to the government for all of the taxes you pay—income...
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Finding out that you owe taxes can be a bit unnerving, especially if you owe more than what you expected. Don’t worry — it is not the end of the world if you’ve gone through the numbers and you’re left with a tax bill. Here are a few steps to take: Get Ahead of It You...
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Tax season is approaching. But for many businesses, managing taxes can be a yearlong undertaking. In fact, there are many different types of deadlines you should be aware of throughout the year. 2019 Tax Calendar Here are the most important tax dates for businesses to know in 2019. 1099 Mailing Deadline, January 31 If your business works...
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