Accounting & Tax Services to fit your needs

Tax season has arrived! Our clients safety and health is our main priority. For that reason our office is temporarily closed for the time being to walk ins. Please drop off your income tax documents in our locked drop box outside our door.

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                                               Important Updates

• The health and safety of our clients and staff is our priority. Due to social distancing requirements our office is open to drop offs only.  Please put your documents in a sealed envelope in our locked drop box outside our office door.  We will be in contact with follow up questions. 
• Revised Tax day!  Federal, Michigan and City tax returns have a tax filing deadline of July 15, 2020. Penalties and interest will be waived if paid by July 15.
• A summary of the Stimulus bill is located in the News and Publications section of our website
• Small Business Association loans and grants are available to help you with payroll, rent and other business expenses. Information for the SBA grant go to form.jotform.com/200847960210147. Information for the SBA loan go to covid19relief.sba.gov/#/. More information for small business owners on the CARES act is located in the News and Publications section of our website.
• Michigan unemployment has been expanded to 39 weeks with immediate approval.  With passage of the CARES act taxpayers may receive up to $600 in addition to their Michigan unemployment benefits. This also applies to those that are self employed. Michigan Unemployment currently is working on a system for those that are self employed to apply for benefits. Go to www.michigan.gov/leo for more information and to apply.
  
• On March 27, a relief package was passed that provides Michigan families with the help they need. Under this legislation individuals will receive a $1,200 tax rebate and joint filers will receive $2,400, with the amount declining in phases for those making more than $75,000 and $150,000 respectively. There is also a $500 credit per child for working families. Social Security beneficiaries who are not typically required to file tax returns will not need to file an abbreviated tax return to receive an Economic Impact Payment. Instead, payments will be automatically deposited into their bank accounts. “Social Security recipients who are not typically required to file a tax return do not need to take an action, and will receive their payment directly to their bank account,” said Secretary Steven T. Mnuchin. The IRS will use the information on the Form SSA-1099 and Form RRB-1099 to generate $1,200 Economic Impact Payments to Social Security recipients who did not file tax returns in 2018 or 2019. Recipients will receive these payments as a direct deposit or by paper check, just as they would normally receive their benefits.. For more information go to  www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know
• Employee Retention Credit available for many businesses financially impacted by COVID-19: The Treasury Department and the Internal Revenue Service launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19.  More information is available at  www.irs.gov/newsroom/irs-employee-retention-credit-available-for-many-businesses-financially-impacted-by-covid-19.
• Lt. Governor Garlin Gilchrist II was joined by former Lt. Governor, and current president of the Small Business Association of Michigan (SBAM) Brian Calley and Bob Doyle, president and CEO of the Michigan Association of CPAs, in launching a new statewide website, MIpaycheckprotection.com, to provide businesses with key resources to assist with the PPP application and loan process and ensure the greatest amount of federal funding is able to be used by small businesses for economic relief efforts throughout the state.
• For FAQ's on recent legislation go to  www.nytimes.com/article/coronavirus-stimulus-package-questions-answers.html

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Integrity * Accuracy * Trustworthy

Allied Accounting Services has been providing total financial services to individuals and businesses for over 30 years. Professionalism and integrity encompasses everything we do. We help our clients so that their business’ financials are clear and straightforward. We stop and listen to client needs, questions and concerns.  We have experience in financial planning strategies to meet business’ current needs in a number of areas from tax law to a trusted business advisor. We are a trustworthy confidant for your most guarded personal financial information and proprietary business data where we make it easier to deal with stressful financial matters. We offer fresh ideas for more convenient and cost-efficient ways of doing things. Contact us today for a consultation with a competent, experienced advisor to identify and implement innovative ways to keep more of what you earn and help your business grow.