BOLDREY SENCHUK ROULEAU & WILLIAMS CPAs PC

09/01/2026

Many individuals invest in real estate to help diversify their portfolio, create an income stream for themselves from rental income and build net worth over time. Income and losses from investment real estate are considered passive by definition — unless you’re a real estate professional. Even then, you generally must “materially participate” in a rental activity for it to be treated as nonpassive. Why is this important? Passive income may be subject to the 3.8% net investment income tax on top of any income tax otherwise due, and passive losses are deductible only against passive income, with the excess carried forward.

08/25/2026

📚✏️🍎 Teachers and other educators often spend their own money on books, supplies, equipment and other classroom needs.

For 2026, eligible educators may have two ways to deduct qualifying unreimbursed expenses: A deduction of up to $350 is available whether or not they itemize, and a new deduction with no dollar cap is available to itemizers. Educators eligible for both deductions can first claim the above-the-line deduction and reap the benefits of reducing their adjusted gross income and, if they have eligible expenses in excess of $350, claim the itemized deduction for those excess expenses. (Educators can’t claim both deductions for the same expenses.)

If you are a teacher or educator and would like to become a client, please contact us to get started and see if you qualify!

08/21/2026

Could your traditional 401(k) or IRA balance be too large? Maybe!

Contributing as much as you can to tax-deferred retirement accounts can be a good idea. Contributions are pretax or deductible, and tax-deferred compounding can turbocharge growth.

But sometimes maximizing tax deferral is counterproductive. This may be true if tax rates increase by the time you pay tax on distributions. Also, retirement plan distributions are taxed at your ordinary-income rate, not your long-term capital gains rate. So you may pay a higher tax rate on dividends and growth than you would if you held the investments in a taxable account.

08/18/2026

Disability insurance is a valuable benefit provided by many employers. It replaces a portion of the insured person’s income — typically 45% to 65% of pre-disability earnings. But in some cases, income taxes can take a bite out of disability benefits.

Taxability usually hinges on who paid the premiums. If your employer paid them, the payouts from the policy generally will be taxed to you just as if the income were paid directly to you by your employer. If you paid the premiums, the payments you receive generally won’t be taxable. State tax treatment of disability benefits varies.

We can help you assess how much disability coverage you need depending on the tax consequences and other factors.

08/10/2026

🚨 Waiting on Your Michigan State Tax Refund? 🚨

Many Michigan taxpayers continue to experience delays in the processing of their state income tax refunds as the Michigan Department of Treasury works through returns requiring additional review. The Treasury has acknowledged these delays and recently upgraded its phone system to improve taxpayer service, including a new callback feature that allows taxpayers to request a return call instead of remaining on hold.

If your refund has been delayed for an extended period and you have not received clear communication regarding the status of your return, we encourage you to contact the Michigan Department of Treasury directly.

The Treasury has reported significant improvements in call response times following the implementation of its new phone system.

📞 Michigan Department of Treasury Individual Income Tax Line: 517-636-4486

08/04/2026

🎓 Sending a Child to College This Fall? 📚

Higher education comes with expenses, but it may also come with valuable tax benefits!

✅ American Opportunity Tax Credit (AOTC)

You could be eligible for a tax credit of up to $2,500 per student during the first four years of college. Keep in mind that the credit begins to phase out for married couples filing jointly with modified adjusted gross income between $160,000 and $180,000, and for heads of household between $80,000 and $90,000.

💰 529 Plans & Education Savings Accounts

If your child has a tax-advantaged education account, such as a 529 plan, tax-free withdrawals can be used to pay qualified education expenses. However, expenses paid with tax-free withdrawals cannot also be used to claim the AOTC.

Every family's situation is different. Contact us to discuss these tax-saving opportunities and other strategies that may help you make the most of your education expenses.

07/28/2026

Mutual funds offer an easy way to invest in a diversified portfolio but the tax treatment isn’t so simple.

One challenge is that certain mutual fund transactions are treated as sales even though they might not seem like it. Another is that determining your tax basis for shares sold can be complicated, especially if you dispose of only part of your interest in the fund and the shares were acquired at different times for different prices. Also, mutual fund capital gains distributions are generally taxable, even when reinvested in the fund.

07/22/2026

Have you made contributions to charity this year? Are you considering making more? If so, it’s important to be familiar with the tax rules so you can maximize your tax benefit — or at least avoid finding out at tax filing time that your charitable deductions are smaller than you expected.

What you donate affects how much you can deduct and the limits that apply. For example, cash donations are generally deductible up to 60% of adjusted gross income (AGI) while property donation deductions are typically limited to 30% or 50% of AGI. And nonitemizers can deduct only cash gifts, subject to a $1,000 limit ($2,000 if married filing jointly).

Many additional rules apply. Contact us with questions.

07/16/2026

Reminder that our office will be closing at 12:00 PM today for our staff appreciation afternoon. We will reopen tomorrow at 8:00 AM.

Schedule Update - July 16, 2026 🗓️

Our office will be closing at 12:00 PM on Thursday, July 16, 2026, for our staff appreciation afternoon.

We are grateful for our dedicated staff and all they do to serve our clients and community throughout the year.

Thank you for your understanding and continued support!

07/15/2026

It’s easy to focus on the excitement of a big win but before you spend lottery, gambling or other winnings, be sure you understand the tax impact 💸

Federal tax law generally treats such winnings as taxable income. Knowing the basic rules can help you avoid surprises when you file your 2026 return next year. For example, if you win more than $5,000, generally the payer (lottery agency, casino, etc.) will withhold 24% for federal tax purposes — which may or may not be enough to cover your tax liability — and send you and the IRS a Form W-2G showing the winnings paid and tax withheld.