In some cases, it makes sense to choose a car that’s been in an accident—here’s how to decide. If you’re having a tough time finding an affordable used car, you might wonder, “Should I buy a car with an accident history?” While there’s no simple answer, here are factors to help you decide. All accidents are not equal Today’s car buyers have access to valuable information through services like CARFAX. With the vehicle identification number (VIN), you can look up a car’s history that includes things like insurance claims for accidents. A minor fender-bender isn’t likely to affect the long-term p ..read more

Business credit scores are not transparent but there are steps to take to boost your ability to get business credit. If you’ve ever wondered about a business credit score, you’re in good company. Several credit reporting agencies produce them but provide neither transparency about how business credit scores are assigned nor ready access to the reports. The lack of information about the scoring process led the Federal Trade Commission (FTC) to launch an inquiry in 2023. Who issues business credit scores? You’ll likely recognize some of the agency names that issue business credit scores. Dun &am ..read more

Preparing for retirement can look a little different for women than it does for men. Although stereotypes are changing, women are still more likely to serve as caretakers than men are, meaning they may accumulate less income and benefits due to their time absent from the workforce. One study estimates that 66% of caregivers are women. Women who are working also tend to put less money aside for retirement. According to one report, women contribute 43% less to their retirement accounts than men.1,2 These numbers may seem overwhelming, but with a little foresight, you can start taking steps now t ..read more

Decks provide clues that’s it’s time repairs or replacement; know what to look for. Decks perform for us day in and day out. They weather the seasons, along with all the sun, rain and snow Mother Nature brings. Until one day you notice a problem. Here are five signs it’s time to repair or replace your wood deck. Wood deterioration Does your deck feel spongy when you walk on it? It might suffer wood rot, which is the result of fungus. As the fungus spreads, it breaks down the wood fibers. Eventually the wood is no longer structurally sound and needs to be replaced. Other causes of wood deterior ..read more

The State’s use of a new ACH processor means business members using Positive Pay may need to take action to ensure their tax payments go through. Some Consumers business members recently received a notice from the Michigan Treasury about a change in ACH transactions for business tax payments. Here’s a quick overview of the change, who it affects and what you need to do—if anything. Michigan Treasury Online is changing their ACH platform On April 13, 2024, Paymentus will replace PayConnexion as the payment platform for business taxes through Michigan Treasury Online (MTO). W ..read more

You’re young, have little in savings, and might not have anyone relying on you, financially. So, why do you need to think about estate management?1 Here are four great reasons: Estate Strategies: They’re Not Just for the Elderly You need a will. You may ask yourself why a will is important if you don’t have much to pass on. A will is not just about transferring assets. It can be used to accomplish other tasks, such as naming who should manage your social media accounts once you’re gone or inherit items you’ve accumulated, like collectibles or your car. Don’t burden others with burial expenses ..read more

A quick guide to when to make tax withholding adjustments and how to put them into effect. After completing your income tax return, you might wonder if you should change how much tax you contribute each paycheck. Here’s a quick guide to evaluating your tax withholding and adjusting it if necessary. How tax withholding is determined When you were hired, your employer had you fill out a W-4. This tax form asks about things like whether you file as a single, married or head of household taxpayer. It also asks for information about multiple jobs and the number of dependents you have. The data coll ..read more

See if you qualify for a property tax exemption or tax credit to lower the cost of owning your home. There aren’t many ways to reduce residential property taxes but there are few—if you qualify. See if one of the following exemptions or credits apply to your situation. Disabled veterans and surviving spouses Under Michigan law, disabled veterans who were discharged or honorably released from the U.S. armed forces—including the reserves—can claim an exemption from property taxes on a homestead property. Plus, un-remarried surviving spouses of a qualifying disabled veteran are allowed to retain ..read more

Here’s news you can use in a constantly changing business environment, including an uptick in retail sales, why housing prices may drop (and when), a strategy shared by George Costanza and Warren Buffett, and more. More shopping — After a slow start to 2024, retail sales rose 0.6% in February. Retailers of general merchandise, electronics and appliances, as well as restaurants saw increases. At the same time, furniture and home furnishing stores, and online sales went down. Get the full story. When housing prices might drop — A recent settlement by the National Association of Realtors over re ..read more

What workers anticipate in terms of retirement income sources may differ considerably from what retirees actually experience. For many people, retirement income may come from a variety of sources. Here’s a quick review of the six main sources: Social Security Social Security is the government-administered retirement income program. Workers become eligible after paying Social Security taxes for 10 years. Benefits are based on each worker’s 35 highest earning years. If there are fewer than 35 years of earnings, non-earning years are averaged in as zero. In 2023, the average monthly benefit is ..read more