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.
Checking off RMDs on the year-end to-do list
If you’re age 73 or older and have one or more tax-advantaged retirement accounts or you’re younger and have inherited such an account, you may need to take required minimum distributions (RMDs) by Dec. 31. If you don’t comply, you can owe a penalty equal to 25% of the amount you should have withdrawn but didn’t. (If the failure is corrected in a “timely” manner, the penalty drops to 10%.) The RMD rules can be confusing, especially if you’ve inherited a retirement account. If you’re subject to RMDs, it’s also important to accurately calculate your 2025 RMD. We can help ensure you’re in compliance. Please contact us today. ... See MoreSee Less
New law eases the limitation on business interest expense deductions for 2025 and beyond
Interest paid or accrued by a business can be deductible for federal tax purposes. But for larger businesses, the deduction is generally limited to 30% of adjusted taxable income (ATI). Now, for tax years beginning in 2025 and beyond, ATI will be computed before any deductions for depreciation, amortization or depletion. This change more closely aligns the ATI definition with the financial accounting concept of earnings before interest, taxes, depreciation and amortization (EBITDA) and increases ATI, thus increasing allowable deductions for business interest expense. The rules are complicated. If your business may be affected, contact us. We can help assess the impact. ... See MoreSee Less
There’s still time to save 2025 taxes
Just because it’s December doesn’t mean it’s too late to reduce your 2025 tax liability. Consider implementing one or more of these year-end tax-saving ideas by Dec. 31: 1) Defer income and accelerate deductions. 2) Harvest investment losses. 3) Donate appreciated stock to qualified charities. 4) Maximize pre-tax and deductible retirement plan contributions, including catch-up contributions if you’re age 50 or older. Some of these strategies will be beneficial only if you itemize deductions. Other factors could make these ideas less beneficial in certain circumstances. Contact us to discuss what makes sense for your situation and more last-minute tax-saving strategies. ... See MoreSee Less