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Frequently Asked Questions
Find quick answers to common questions about taxes, payroll, bookkeeping, and business formation. At Dynamite Tax & Financial Service, we make finances simple and stress-free.
What services does Dynamite Tax & Financial Service in Southfield, MI provide?
We specialize in individual tax preparation, business tax preparation, bookkeeping, payroll services, tax planning, and business formation. Our goal is to help individual and business owners stay compliant, maximize refunds, and reduce tax liability.
Do I need to schedule a tax appointment or can I walk in?
We recommend scheduling an appointment to ensure personalized service. However, our Southfield office does accept walk-ins during regular tax season hours. Virtual appointments are also available for clients across Michigan and nationwide.
What documents should I bring for tax preparation in Michigan?
Bring a valid photo ID, Social Security card (or ITIN), last year’s tax return, W-2s, 1099s, income records, receipts for deductions, and business records (if applicable). This ensures your return is accurate and complete. We also send a checklist before your appointment for your convenience.
When is the deadline to file taxes in Michigan?
The federal tax deadline is usually April 15. Filing early helps avoid delays, secure faster refunds, and resolve any issues with the IRS. Dynamite Tax & Financial Service also assists with tax extensions if needed.
Can you help if I owe back taxes to the IRS?
Yes. We help individuals and businesses in Southfield and beyond with back taxes, tax debt relief, IRS letters, and payment plan negotiations. Our IRS representation ensures you don’t face tax problems alone.
Do you offer virtual tax preparation services?
Yes, we provide secure virtual tax filing services for individuals and businesses. Clients can upload their documents online, and we’ll prepare and e-file taxes without the need to visit our Southfield office.
Can you help me start a business in Michigan?
Absolutely. We guide entrepreneurs through LLC formation, corporation setup, EIN registration, operating agreements, and tax registrations. Our business startup services ensure you’re compliant from day one.
Do you provide bookkeeping and payroll services near Southfield, MI?
Yes, we offer reliable bookkeeping, payroll processing, and financial reporting for small businesses in Southfield and throughout Michigan. Our services save you time and help you focus on growth.
How do you help with business compliance?
We help keep your business compliant with state and federal tax laws, annual filings, payroll tax requirements, and financial reporting. Our goal is to prevent costly penalties and keep your business running smoothly.
How much does tax preparation cost in Michigan?
Our tax preparation fees vary based on complexity (individual, small business, or corporate returns). We provide upfront pricing with no hidden fees so you know exactly what to expect.
Do you offer payment plans for tax and accounting services?
Yes, we offer flexible payment options to make our services affordable for individuals and small business owners.
Where is Dynamite Tax & Financial Service located?
Our office is conveniently located at 21751 W Eleven Mile Road, STE 115, Southfield, MI 48076, near major highways for easy access.
What areas do you serve?
We proudly serve Southfield, Detroit, Royal Oak, Farmington Hills, Troy, Novi, and surrounding Michigan communities, plus nationwide clients through our secure virtual tax services.
What are your office hours?
We’re open Monday–Friday, 9:00 AM – 5:00 PM. During tax season, we offer extended hours and Saturday appointments by request.
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Cash Flow Mistakes Business Owners Make and How to Avoid Them
5 Common Cash Flow Mistakes and How to Fix Them
Cash flow is one of the biggest challenges business owners face—and most issues stem from a few common habits. The good news? Once you identify the causes, these problems are easy to fix. Here are the most frequent cash flow mistakes and practical ways to avoid them:
1. Relying on inconsistent income to cover fixed expenses
Many business owners wait for client payments before paying rent, software subscriptions, or contractors, leaving them stressed and scrambling.
Fix: Build a one-month cash buffer. For example, if your monthly expenses are $4,000, aim to keep at least that amount untouched in your account. This creates stability and peace of mind.
2. Letting overdue invoices sit without follow-ups
Delayed payments slow your cash flow and can leave thousands of dollars uncollected simply because there was no system for reminders.
Fix: Automate or schedule invoice reminders. A simple follow-up every 7 days can significantly improve cash flow and reduce stress.
3. Making decisions based on your bank balance
Your account balance doesn’t reflect upcoming bills, taxes, payroll, or subscription renewals. Relying on it alone can lead to overspending.
Fix: Review your monthly cash flow report before making decisions. This shows your true available funds after accounting for upcoming expenses.
4. Waiting until tax season to save for taxes
Putting aside tax money at the last minute can cause a sudden cash crunch. This is one of the most common issues we see with new clients.
Fix: Set aside a percentage of every deposit throughout the year. This ensures you’re prepared and avoids unnecessary financial stress.
5. Mixing personal and business expenses
Combining accounts creates confusion, makes bookkeeping difficult, and can distort your true cash position.
Fix: Keep personal and business accounts separate. Clear separation makes tracking and managing cash flow much easier.
Cash flow challenges don’t always mean you’re not earning enough—they often come down to habits and systems. With the right processes in place, cash flow becomes predictable, manageable, and stress-free.
Ready for more clarity in your finances? Partner with us to organize your books, track your cash flow, and keep your business running smoothly with confidence.
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