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.
Turning stock downturns into tax advantages
Have you ever bought stock shares that later became worthless? (This may become relevant in light of recent market volatility.) At least you can claim a tax deduction. You can claim a capital loss equal to your basis in the stock (generally what you paid for it). The stock is treated as if it was sold on the last day of the tax year. This date affects whether the loss is short- or long-term. You may discover that a stock is worthless after you’ve filed your return for the year. In that case, you can amend your return for that year to claim a credit or refund. This can be done for 7 years from the due date of your original return, or 2 years from the date you paid the tax, whichever is later. ... See MoreSee Less
Planning for the future: 5 business succession options and their tax implications
When it’s time to consider your business’s future, succession planning can protect your legacy and successfully set up the next generation of leaders or owners. Here are five options to consider: 1) Transfer the business directly to family members through a sale or gifts. 2) Transfer ownership through a trust. 3) Engage in an employee or management buyout. 4) Establish an employee stock ownership plan. 5) Sell stock or assets to an outside buyer. Each of these options has tax implications. The best approach for you depends on factors including your retirement timeline, financial goals and family or employee involvement. Contact us about how to move forward in your situation. ... See MoreSee Less
Riding the tax break train: Maximizing employee transportation fringe benefits
If your employer offers tax-favored transportation fringe benefits, you should probably take advantage of them. For 2025, employer-provided mass transit passes for train, subway and bus systems are tax-free to an employee, up to $325 a month. Your company can’t deduct the cost of this benefit. However, your company can offer a salary-reduction arrangement that allows you to set aside up to $325 per month from your salary to pay for transit passes. That way, you pay with before-tax dollars. For 2025, employer-provided parking allowances are also tax-free up to $325 per month. You can be given this fringe on top of the tax-free $325 a month for transit passes. Contact us with questions. ... See MoreSee Less