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      May 22, 2018

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Tax Relief in Michigan

Michigan MapMichigan residents tend to fare well when looking at various dimensions of taxes collected within the state. For example, the state’s flat-rate individual tax of 4.25% is 11th lowest among all states that collect personal income taxes. Additionally, an average of $688 per person is collected annually in both state and local income taxes, ranking Michigan 18th lowest in the nation.

Michigan is also is 28th when it comes to federal income taxes collected; the statewide average of $9,475 is lower than the national average by more than $2,000. Even when looking at property taxes, Michiganders pay an average of $1,374 per person, ranking 21st highest in the United States.

However, Michigan has the 17th lowest median household income in the nation at $48,801, and experienced the second-largest decline in income at 24.3%. These financial struggles have led many state residents to choose tax relief in an attempt to manage their debt.

Michiganders are feeling the stress of owing local and federal tax authorities, and the accompanying threats of property seizure and wage garnishment. As the April 15 deadline to file taxes looms, Michigan residents living paycheck-to-paycheck are unlikely to have money set aside in savings to cover their tax obligations. Most people choose to meet their immediate, urgent needs - such as groceries, utilities, rent, and gas for their cars - rather than saving up to pay local, state, and federal tax bills.

Tax relief companies can provide residents with an alternative to such pressures. These companies work with clients’ outstanding tax debts and can often reduce such debt in significant ways. Experts in tax relief have a number of strategies by which they can help clients with their overall tax burdens, such as reviewing and amending tax returns, investigation of tax levies and liens, and negotiating penalty abatement.

 

Here's who's running to be Michigan's next governor

He is the first candidate to qualify for a Libertarian Party primary election in Michigan. Issues: Gelineau wants to end tax subsidies for businesses, drop the state's tax limit, legalize recreational marijuana and modify business taxes to insure against ...

Published:  Sun, 20 May 2018 21:11:00 GMT



Why anti-marijuana group wants Michigan to legalize weed

More: GOP lawmakers contemplate tying marijuana legalization to income tax cut More: Michigan approves marijuana legalization vote for November "This committee was initially formed to defeat the recreational ballot proposal, but now we believe that the ...

Published:  Fri, 18 May 2018 11:44:00 GMT



Tax hike fuels jump in Indiana gas prices since last year

Indiana had the nation's seventh-highest state tax and fee on gasoline as of April of this year, according to the American Petroleum Institute, putting it behind Pennsylvania, California, Washington, Hawaii, New York and Michigan. "That's why we're so ...

Published:  Mon, 21 May 2018 06:33:00 GMT



Michigan's property tax rate ranks 14th in U.S.

The average Michigan homeowner pays 1.51 percent of their home value in taxes, according to an ATTOM Data Solutions analysis of property taxes levied on single family homes. The state has 3.6 million single family homes with an average estimated value of ...

Published:  Fri, 18 May 2018 08:20:00 GMT



Jim Harbaugh to take Michigan Wolverines to South Africa in 2019

which could create tax implications. He's yet to ask the NCAA if it would approve his ideas. 1 Related Last month, Michigan returned from a team-wide trip to France where the players and coaches visited Paris and Normandy. A year ago, the team traveled to ...

Published:  Mon, 21 May 2018 20:08:00 GMT



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