Anyone who does their own taxes has been there before. The moment you input all of your taxes, hit the submit button, and close your eyes and hope that you don’t owe money. Taxes are pretty simple. Have enough withheld…
Tag: Michigan State Taxes
Michigan Taxes in Retirement
I’ve got a little good and bad news for you when you reach retirement. The good news is that there is a really good chance that your taxes will go down in retirement! The bad news is that these taxes…
Michigan Snowbird: Should You Make Florida Your Primary Residence?
I’m writing this is the midst of another “polar vortex”. The car read negative twelve as I made my way through the icy wonder that is Michigan in February. The conversation with my parents at their Florida home didn’t help…
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Taxes on Social Security in Michigan
If you earned $50,000 per year in a 35-year career, you would have paid around $110,000 in social security taxes. Also, let’s not forget that your employer would have paid the same amount of taxes on your behalf, which means…
Taxes on 401(k) and IRA Distributions in Michigan
You have saved and saved throughout your working years and now it is time to start taking some money out. You didn’t think the government was going to let you have all of that money tax-free, did you? A lot…
Analyzing The 2019 Proposal to Eliminate the Michigan Pension Tax
Wait, Democrats and Republicans can actually agree on something? Well, every Democrat and Republican running for governor of Michigan at least. The Michigan “Pension Tax”, is so unpopular with Michigan retirees, that it actually brought together people on both sides…
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