After similar legislation was struck down in 2020, non-residential solar power developers could have another chance to sidestep taxes by someday entering a 20-year direct payment agreement with local governments. […]
The Senate passed a gas tax vacation package to temporarily suspend both Michigan’s gas tax and the sales tax on motor fuel, hoping to sidestep projections of gasoline prices hitting […]
The Republican-led Senate and House passed out $2.5 billion in tax reductions, including an expansion of Michigan’s Earned Income Tax Credit from 6% to 20% in the 2022 tax year […]
Courtesy of Yeo & Yeo Adding a new partner in a partnership has several financial and legal implications. Let’s say you and your partners are planning to admit a new […]
Republicans have promised to deliver worthwhile tax relief in the age of ascending inflation and costly necessities, and GOP senators hope a $2 billion “tax cut” allowance will help them […]
The U.S. Supreme Court Monday declined to review a four-state challenge to the 2017 tax law capping federal tax deductions for state and local taxes, known as SALT. As a […]
Roughly 10% of the spending Gov. Gretchen Whitmer wanted in next year’s health and human services budget was cut out of a Senate plan that moved out of subcommittee Wednesday afternoon as […]
Gov. Gretchen Whitmer vetoed both the $2.5 billion income tax cut and the $750 million gas tax pause Friday afternoon, writing in her letter that she wants to work with […]
After Republican lawmakers provided their final approval on a $2.5 billion income tax cut, Gov. Gretchen Whitmer has clarified she’s armed with a veto pen and ready to negotiate. “This bill […]
Courtesy of Ahola Corporation As business owners who received a Paycheck Protection Program loan prepare to file their 2021 taxes, they need to consider whether they are also eligible to […]
The House and Senate sent to the Governor Tuesday evening a $75 million small business tax cut that emerged as a piece of the economic development deal reached Tuesday on […]
A Sen. Wayne A. Schmidt (R-Traverse City) bill aiming to boost the state’s earned income tax credits (EITCs) by up to 30% of an individual’s federal EITC over several years received its first hearing Wednesday […]
Courtesy of Yeo & Yeo If you operate a business that collects payroll taxes from employees, here’s a warning: Regardless of what your corporate financial situation is, don’t borrow from the […]
Courtesy of Yeo & Yeo Many businesses are having trouble recruiting and retaining qualified workers today. Nearly 90% of employers reported difficulty filling open positions, according to a recent survey conducted […]
Courtesy of Yeo & Yeo Almost three months after it passed the U.S. Senate, the U.S. House of Representatives has passed the Infrastructure Investment and Jobs Act (IIJA), better known […]
Courtesy of Ahola Corporation On November 15, 2021, President Biden signed the Infrastructure Investment and Jobs Act into law. While key initiatives in the law include improving and rebuilding roads, bridges, and […]
Eligible businesses can now access Employee Retention Tax Credit (ERTC) for both 2020 and 2021 for eligible employee wages as long as these specific payroll wages and/or group benefits were […]
Courtesy of Yeo & Yeo Are you a business owner thinking about hiring? Be aware that a recent law extended a credit for hiring individuals from one or more targeted […]
