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.
Is an HDHP plus an HSA a financially smart health care option for you?
Pairing a high-deductible health plan (HDHP) with a Health Savings Account (HSA) can be a financially smart option, particularly for healthy individuals. Insurance premiums will be lower because of the high deductible. And the HSA provides a tax-advantaged way to fund the deductible and other medical expenses. It can even help fund retirement. Among the tax benefits: 1) Contributions are pretax or deductible. 2) Contributions your employer makes aren’t included in your taxable income. 3) Earnings in the HSA aren’t taxed. 4) Distributions to pay qualified expenses are tax-free. 5) Distributions after age 65 are penalty-free even if not used for medical expenses (but income taxes do apply). ... See MoreSee Less
Review your business expenses before year end
Now is a good time to review your business’s expenses for deductibility. Accelerating certain expenses into this year will reduce 2025 taxes and might even provide permanent tax savings. There’s no master list of deductible business expenses in the federal tax code. Some deductions are expressly authorized or excluded, but most are governed by the general rule that businesses can deduct their “ordinary and necessary” expenses. Understanding what’s deductible and what’s not isn’t easy. We can review your current expenses and help determine whether accelerating expenses into 2025 makes sense for your business. Contact us to discuss year-end tax planning and to start strategizing for 2026. ... See MoreSee Less
The 2025 SALT deduction cap increase might save you substantial taxes
If you pay more than $10,000 in state and local taxes (SALT), such as property tax and state income tax, a 2025 tax law change could significantly reduce your federal income tax liability. For 2018–2024, the SALT itemized deduction was limited to $10,000. For 2025, you can deduct up to $40,000. But the deduction drops by 30% of the amount by which modified adjusted gross income (MAGI) exceeds $500,000; when MAGI reaches $600,000, the $10,000 cap applies. (Be aware that lower limits and thresholds apply to married taxpayers filing separately.) To maximize your deduction, you may want to take steps to keep your MAGI under the reduction threshold or accelerate property tax payments into 2025. ... See MoreSee Less