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.
You don’t have to be in business to deduct certain vehicle expenses
Business driving may come to mind when you think about tax deductions for vehicle-related expenses. However, businesses aren’t the only taxpayers that can deduct driving expenses. Individuals may also be able to deduct them in certain circumstances. Unfortunately, under current law, you may be unable to deduct as much as you could years ago. For 2018 through 2025, miles may only be deductible in limited circumstances. The 2024, the per-mile rate varies depending on the purpose. For business, it’s 67 cents; for medical driving for eligible itemizing taxpayers, it’s 21 cents; for active-duty military moving, it’s 21 cents; and for charitable itemizers, it’s 14 cents. Questions? Contact us. ... See MoreSee Less
How can you build a golden nest egg if you’re self-employed?
If you own a small business with no employees (other than your spouse) and want to set up a retirement plan, consider a solo 401(k) plan. This is also an option for self-employed individuals or business owners who wish to upgrade from a SIMPLE IRA or SEP plan. For 2024, you can make an elective deferral contribution of up to $23,000 of your net self-employment (SE) income ($30,500 if you’ll be 50 or older as of Dec. 31, 2024). On top of the elective amount, an extra contribution of up to 20% of your net SE income is allowed for solo 401(k)s. For 2024, the combined elective and extra contributions can’t exceed $69,000 ($76,500 for 50 or older) or 100% of net SE income. Questions? Contact us. ... See MoreSee Less
Maximize your year-end giving with gifts that offer tax benefits
As year end approaches, you may be thinking about tax strategies. One way to reduce potential estate taxes and show generosity to loved ones is to give cash gifts before Dec. 31. Taxpayers can transfer large amounts using the annual exclusion. In 2024, the exclusion amount is $18,000. It covers gifts you make to each recipient. That means if you have three children, you can transfer $54,000 to them in 2024, free of federal gift taxes. Married couples can consent to give each recipient up to $36,000 a year. Other rules may apply, and you need to file a gift tax return if you give more than $18,000 or consent to give gifts with your spouse. We can prepare a gift tax return for you. ... See MoreSee Less