Stay updated on all areas of tax files and business processes affected by COVID-19

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2021 Tax Season Begins

Tax Season is upon us again! The IRS will allow business tax returns to be electronically filed starting January 7th. For individuals, the IRS will op...

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Opportunity Zone Tax Benefits

Opportunity Zones are an investment opportunity with significant tax benefits that were created through the 2017 Tax Cuts and Jobs Act. It was created...

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Changes to the Child Tax Credit

There are significant changes coming to the Child Tax Credit which will help many families get advance payments of the Child Tax Credit starting in th...

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New 1099 Forms for 2021

We'd like to draw your attention to the new 1099 forms for 2021.  If you (as a business) prepare your own 1099’s, please be aware of t...

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Payroll Protection Program Loan Forgiveness Change Passed by Congress

We are pleased to announce that Congress changed some of the PPP rules over the weekend. It is important to note that several of the ru...

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PPP Loan Forgiveness

Many of you reading this have received, or will soon receive, the Payroll Protection Program (PPP) loan. And that’s good news. Not surprisingly,...

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Economic Injury Disaster Loan - FAQ's

Frequently Asked QuestionsIf I am applying or already received an Economic Injury Disaster Loan, is my small business eligible to parti...

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COVID-19 Update

Right now, your highest priority is the health of those you love and yourself. But if you have time to read about some non-medical but important matte...

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In-Office Appointments

As the spread of the corona virus takes hold in Michigan, we at LBF want to be sensitive to the risks facing our clients and our staff. We are taking...

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When Can I Expect My Tax Refund in 2020?

One of the biggest questions asked when filing taxes is "When can I expect my refund to come?" Once your tax return is e-filed, you can get your...

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Managing Your QuickBooks Activity

Happy Valentine’s Day! While this holiday is traditionally focused on the love and well being of your special someone, it’s our job here a...

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Warning Signs of Identity Theft, and What to Do if You Become a Victim

It seems that every week, I receive alerts about identity theft and tax scams – old and new – making the rounds in the form of e-mails, sn...

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Additional Tax Returns You May Be Forgetting About

Many people believe that our office doesn't really get busy until February when tax season kicks in. The reality is that for us accountants,...

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2020 Tax Scam

Watch out for tax scams relating to Michigan Taxes Due. This was received from the State of Michigan today: Treasury: Scammers Using Fake Letters in...

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Planning for Tax Year 2020

Now that 2019 is two days in the past, it is already time to begin preparing for 2020. Here are a few tips to help make your 2020 tax process more eff...

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