The Small Business Tax Help Blog

Posts Tagged ‘estimated tax forms’

Question: Short Term Capital Gains Rate – Michigan?

I just sold an investment property I held for 4 months. I have to pay short term capail gains. Can anyone tell me what those rates are for Michingan. I beleive they are 28% for Federal. Also what forms must I fill out to pay estimated taxes for this sale to both the Fed and Michigan. Thanks!!!

Answer: For Federal it is whatever your normal tax rate is, which depends on what other income and deductions you have (but without know anything about your situation 28% is probably a decent amount to use if you just want to estimate how much you’ll owe). For Michigan it is 3.9%, the same rate as for all income – Michigan doesn’t have a different rate for capital gains, everything (wages, interest, capital gains, etc.) are all taxed at the same rate.

Roy Roberts Takes Over Indebted Detroit Public Schools

Former GM executive Roy Roberts took over as the emergency manager of Detroit’s public schools yesterday. And so far, he doesn’t seem intent on bulldozing anything — yet.

House Session 2011-03-03 (12:03:18-13:04:18)

Question: W2 Tax form how to estimate what my refund should be?

I’m not trying to do my taxes officially i just want to know how to figure out what my refund will be? Thanks for the help!

Answer: I usually download a one-page form (1040EZ) and figure out my taxes using the table and my W2 using pencil and calculator.

I usually know whether I owe or not using that method and the refund amount has been very accurate.

Town unveils ideas for highway, salt buildings

Following more than a year’s worth of consultation with other towns about buildings best suited for local requirements, the town of Stuyvesant has given residents a first look at the proposed overhaul of its tattered highway building, and the upgrade of inadequate salt storage facilities. The project should lower operating costs and protect the environment.

MVPS GA Tax Video