Welcome to Seber Tans, PLC
Choosing the right accounting firm is one of the most important business decisions you will make. Any firm can add up the numbers and tell you where you’ve been, but Seber Tans will help you focus on where you want to go. In Southwest Michigan, the firm that unites professional expertise with creativity and vision is Seber Tans. With a team of experienced professionals on our staff, we can provide the capabilities of a large national organization, plus the personal attention of an independent firm. Clients choose us because we offer much more than off-the-shelf solutions. We will listen, ask questions, and learn all we can about your current situation. From that input, we’ll find creative solutions to help you focus on your opportunities rather than your obstacles. Join us and see why our clients trust us for their accounting, tax, and business advising needs.
Get tax breaks for energy-saving purchases this year because they may disappear
The Inflation Reduction Act created several tax credits to promote clean energy. You may want to take advantage of them before it’s too late. President-Elect Donald Trump has pledged to “terminate” the law so it may be repealed in 2025. For example, there’s an Energy Efficient Home Improvement Credit. It covers 30% of the cost of eligible improvements, such as installing energy-efficient windows, doors, and insulation, up to $1,200 a year. There’s also a credit of up to $2,000 for qualified heat pumps, water heaters and biomass stoves or boilers. And there’s a credit for 30% of the cost of installing solar panels. Contact us before making a large purchase to check if it’s eligible. ... See MoreSee Less
Self-employment tax: A refresher on how it works
Do you own a growing, unincorporated small business, and are you concerned about high self-employment (SE) tax? The SE tax is how Social Security and Medicare taxes are collected from self-employed individuals. The maximum 15.3% SE tax rate hits the first $168,600 of 2024 net SE income. The 15.3% rate is made up of 12.4% for Social Security tax plus 2.9% for Medicare tax. In 2025, the maximum 15.3% SE tax rate will hit the first $176,100 of net SE income. Above that, the 12.4% Social Security tax goes away, but the 2.9% Medicare tax continues for all income. Contact us if you have questions or want more information about the SE tax and ways to reduce it by operating as an S corporation. ... See MoreSee Less
Unlocking the mystery of taxes on employer-issued nonqualified stock options
Employee stock options are a potentially valuable asset for employees who receive them. If you’re one of them, you’ll eventually sell shares acquired by exercising nonqualified stock options (NQSOs), hopefully for a nice profit. Your objectives should be to 1) have most or all of the profit taxed at lower long-term capital gain rates and 2) postpone paying taxes for as long as possible. When exercising NQSOs, the “bargain element” (difference between market value and exercise price) is treated as ordinary compensation income. Therefore, it’s subject to federal income tax and payroll tax withholding. You want to unlock the best possible tax results, and we can help with advance planning. ... See MoreSee Less