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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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How Much to Set Aside for Taxes in Your Business
Simple Tax Planning Tips for Small Business Owners
One of the most common questions business owners ask is: How much should I set aside for taxes?
Many entrepreneurs feel overwhelmed or surprised by their tax bill simply because they were never taught how to plan for it throughout the year. The good news? With a simple system in place, you can take control, stay organized, and reduce stress.
Here are three practical ways to plan ahead for taxes:
1. Set aside a percentage of every payment
A common starting point is 15–30%, depending on your income and business structure. For example, if you earn $8,000 in a month and save 20%, you would immediately set aside $1,600. Doing this consistently prevents the scramble of finding a large lump sum at the end of the year.
2. Review financial reports monthly
Tracking income and expenses each month lets you adjust your tax savings as revenue changes. For example, if your revenue jumps from $5,000 to $12,000 in a busy season, increasing your tax savings proportionally builds a stronger buffer and keeps you prepared.
3. Use a separate bank account for tax savings
Keeping your tax funds separate from your operating account prevents accidental spending. Many clients find that once the money is separated, it’s much easier to stay disciplined and avoid surprises at tax time.
Planning for taxes isn’t just about compliance—it’s about building financial stability, predictability, and peace of mind as your business grows.
If you want support staying organized, keeping your books accurate, and preparing for tax season with confidence, we’re here to help. Reply to this email to let us take the stress of business finances off your plate.
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