Maximizing your wealth through personal accounting services

Since 1979, we have been serving Michigan with professional, affordable, and personal accounting services. Along with personal tax services, we have experts that can assist with tax planning and preparation. Our focus is on delivering maximum value…while maximizing your wealth.

Tax Planning & Preparation

The knowledge and experience we have gained over the last four decades enable us to help our clients minimize their tax burden while complying with ever-changing tax regulations. In addition, the McDonald team attends ongoing education seminars and workshops to stay up-to-date on the latest tax laws. From complex tax returns to annual and long-term strategic tax planning, our tax planning and preparation services include:

• Alternative Minimum Tax (AMT) considerations
• Calculation and minimization of estimated tax payments
• Loss limitations
• Passive activity loss rules
• Planned charitable giving
• Available credits
• Retirement plans contributions and deductions
• Self-employment
• Household employee reporting requirements
• Income-shifting strategies
• Structuring personal and business transactions
• Divorce and separation issues
• Multi-state tax planning
• Year-round availability
• Audit services
• Gift Tax issues
• Rentals
• Capital Gains
• Property Tax audits
• Employee business expenses
• Installation agreements
• Repossession
• Stock sales

Retirement Planning

Whether you are just starting a career and thinking of starting a long-term retirement plan or close to retirement and need to begin saving, we can help. Because McDonald & Associates’ retirement planning services are designed to help you identify your specific retirement goals, we develop an individual strategy to help you achieve them. Our retirement planning focuses on:

• Prioritize your retirement goals
• Determine your income needs
• Identify issues and opportunities
• Recognize and manage retirement risks
• Identify potential strategies for addressing gaps
• Implement a retirement income strategy
• Monitor and update your strategy

Estate Planning

In order to have an effective estate-planning strategy, you need to consider family dynamics, business and philanthropic goals, retirement planning, and tax objectives. We have a comprehensive understanding of estate and gift tax regulations and can help you evaluate the estate-planning techniques that are best suited for your circumstances. As a result of this comprehensive approach, you can be assured of an estate plan that meets your needs. Our estate-planning services consider:

• Estimation of the current tax on your estate
• Gifting strategies
• Types of trusts
• Strategies for owners of closely-held businesses
• Installment payment of estate taxes
• Estate and trust return preparation
• Estate and trust administration
• Gift tax returns
• Charitable trusts
• Annual gift exclusions