Golemi CPA & Advisory PLLC

04/09/2026

An Extension of time to file does not mean an extension of time to pay. The best way to prevent any additional penalties is to estimate what your tax position will be and pay by 4/15.

04/02/2026

With roughly 2 weeks to tax day, it’s a great time to think ahead and project what 2026 may look like to prevent surprises.

02/09/2026

Friendly Reminder:
The deadline to file the Annual Report in MI is fast approaching (2/15) for most businesses. Don’t delay, file on time if you haven’t done so already.

01/26/2026

📢 Reminder: Update Your Michigan Business Registration!

Don’t forget to file your Annual Statement with LARA (Department of Licensing and Regulatory Affairs).

Michigan businesses need to file their Annual Statement to keep their registration current and in good standing. Missing the deadlines could have negative repercussions for your business.

Don’t delay, file today!

01/07/2026

⚖️ A Cautionary Tale: Why Your Choice of Tax Preparer Matters More Than You Think

The recent Third Circuit Court of Appeals decision in Murrin v. Commissioner (No. 24-2037) should be a wake-up call for every taxpayer.

Here’s what happened: Murrin hired a tax preparer named to prepare her returns from 1993-1999. Unbeknownst to her, the tax preparer fraudulently prepared those returns with intent to evade tax. Fast forward to 2019—over 20 years later—the IRS came knocking with a notice of deficiency in unpaid taxes, plus penalties and interest. Murrin argued she had no fraudulent intent and that the three-year statute of limitations should protect her. The court disagreed. In their ruling, the Third Circuit held that when a tax preparer commits fraud on your return, the normal three-year statute of limitations doesn’t apply—the IRS can assess taxes at any time, even decades later.

The Bottom Line: You are ultimately responsible for what’s on your tax return, even if someone else prepared it fraudulently without your knowledge.
Protect Yourself:
✅ Hire qualified, licensed tax professionals with verified credentials
✅ Review your returns carefully before signing—never sign a blank return
✅ Ask questions if something doesn’t look right
✅ Keep detailed records of your tax filings
✅ Consider professionals with certifications (CPA, EA, tax attorney)

This case reminds us that cutting corners on tax preparation can have devastating financial consequences that may haunt you for decades. The cost of hiring a reputable professional is far less than the potential liability of getting it wrong.

11/13/2025

📢 2026 Retirement Contribution Limits Announced!
The IRS announced important increases to retirement contribution limits for 2026. The 401(k) contribution limit rises to $24,500 (up $1,000 from 2025), and IRA contributions increase to $7,500 (up $500).

Key highlights for your planning:
• 401(k), 403(b), and TSP plans $24,500 Internal Revenue Service
• IRAs: $7,500 with catch-up contributions of $1,100 for those 50+ Internal Revenue Service
• SIMPLE retirement accounts: $17,000 Internal Revenue Service
• Income phase-out ranges for Roth IRAs and traditional IRA deductions have also increased Internal Revenue Service
Now is a great time to review your retirement strategy!

04/02/2025

We are now less than 2 weeks away from tax day. If you’re not planning on filing on time it’s a great time to consider filing for an extension.

03/11/2025

A quick reminder that the S Corporation (Form 1120S) and Partnership (Form 1065) tax returns are due on Monday, March 17, 2025. I always tell my clients to file an extension even if they file timely. The reason for that is simple, if things change or new information comes to light after filing the original return, you can simply file a superseded copy as long as it’s filed by the extended deadline.
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Discover expert accounting, tax planning, and advisory solutions at Golemi CPA & Advisory PLLC. Schedule your appointment for personalized financial guidance.

02/20/2025

Did you know the IRS offers an Identity Protection PIN (IP PIN) to help protect you from tax-related identity theft? This unique six-digit number is available to taxpayers who want an extra layer of security when filing their taxes. It ensures that no one else can file a return using your Social Security number without your consent. 🔒

Protect your tax identity today by getting your IP PIN! You can simply request a PIN from the IRS web page. Follow for more helpful tips!

01/30/2025

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01/30/2025

Tax season is officially here. IRS has officially started accepting individual returns. On other news:
- If you need to file Forms 1099-NEC and/or Forms W-2 for your business, the due date is January 31, 2025
- The BOI reporting still remains on hold and voluntary reporting is still accepted. More to come on this.
- While most of us are awaiting W-2's and other documents, don't forget to collect the Charitable Contribution Statements. There are specific rules as to when an expense can be claimed and the acknowledgements have to have certain components.

As a quick reminder, don't believe all of the tax advice given by non-professionals on social media. Always consult a tax professional for more accurate tax advice. It's the same reason you don't go to florist or a barber to fix your car.

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01/24/2025

In a surprising turn of events, the Beneficial Ownership Information Reporting (BOIR) is back on. While the hearing will be held in March 2025, the Supreme Court decided to lift the temporary injunction. The deadline as of now was set to January 13, 2025. This means that the filing is already late. More to follow.