Maximizing your wealth

Since 1979, we have been serving Michigan with professional, affordable, and personal accounting services. Our focus is delivering maximum value…while maximizing your wealth.

Tax Planning & Preparation

The knowledge and experience we have gained over the last three decades enables us to help our clients minimize their tax burden while complying with ever-changing tax regulations. 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 closer to retirement and need to begin saving, McDonald & Associates’ retirement planning services are designed to help you identify your specific retirement goals and develop a strategy that can 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

At McDonald & Associates, we feel effective estate-planning strategy considers 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. Our estate-planning services considers:

  • 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