We here at Waxenberg & Mueller, PLLC feel that an informed client is our best customer. We know that there is a lot of information on the Internet and it can be tough to determine what is valuable. That is why we've provided several articles, along with some basic tax facts and information on the new Michigan Business Tax passed in 2007.       Year-End Tax Planning  Note important changes in charitable contibutions and "kiddie tax" rules. IRS Warns of E-mail Scams New Michigan Business Tax Legislation Service Tax Repealed Annual Deduction & Deferral Limits

Business and Investment Expense Documentation Even though there may be no question as to the deductibility of a business or investment expense, it may be disallowed by the IRS for lack of supporting documentation.   One-person 401(k) Plans for the Small Business Owner One-person 401(k) plans are becoming increasingly popular for businesses that employ only the owner. Given the right circumstances, such plans can allow a large amount to be contributed on behalf of the owner while maintaining flexibility in making contributions in future years.   Retirement Savings Contributions for 2007 There is still ample time to plan for your 2007 retirement savings contributions. You can contribute up to $4,000 ($5,000 if you are age 50 or older by year-end) to your IRA in 2007 if certain conditions are met.