When choosing a CPA firm, credentials matter. One of the strongest indicators of reliable tax and accounting quality is whether the firm has successfully completed a peer review administered through the American Institute of CPAs (AICPA) and, in Michigan, the Michigan Association of CPAs (MICPA)....
To lend money, banks rely on three main business financial statements: the Balance Sheet, the Income Statement, and the Cash Flow Statement. They also review Business and Personal Bank Statements and Tax Returns. Here is what banks look for in each document: Balance Sheet This...
An S corporation election may make sense when your business has steady net profit—not just revenue—after paying operating costs and reasonable owner wages. The IRS does not set a revenue threshold, so readiness depends on profitability, payroll needs, and compliance costs. You may be ready if: ...
Payroll processing is one of the most critical—yet time-consuming—responsibilities for small businesses. While it may seem manageable at first, payroll processing quickly becomes complex as a company grows, hires more employees, and navigates changing regulations. Many small business owners underestimate the effort required to maintain accurate,...
Do you know what the “be nice” organization is all about? On April 22, 2026, three of our employees attended a Lunch and Learn hosted by be nice., a mental health and suicide prevention program from the Mental Health Foundation of West Michigan. We loved hearing...
Starting in 2026, Michigan small business owners will file significantly fewer 1099 forms — but accurate recordkeeping remains just as critical as before. The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, raises the reporting thresholds for Form 1099-NEC and Form 1099-MISC from $600 to...