Tax season can be stressful, especially when finances are tight. Accounting Aid Society, a local nonprofit dedicated to supporting the financial well-being of individuals and families, offers a variety of free services to make the process easier.
Whether you’re filing your personal taxes, dealing with the IRS or managing small business finances, Accounting Aid Society can help navigate these challenges with confidence.
No-cost tax preparation services
Filing taxes isn’t most people’s idea of fun, but Accounting Aid Society’s no-cost tax preparation service can help take the stress out of the process. Through the IRS Volunteer Income Tax Assistance (VITA) program, the nonprofit offers free tax filing for households with an annual income of $67,000 or less. These services are available to help taxpayers avoid the cost of professional tax prep and ensure you file correctly.
Accounting Aid’s trained and certified volunteers guide individuals through every step.
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Many eligible taxpayers miss out on credits simply because they don’t know they qualify. Along with tax prep services, the nonprofit also helps clients identify tax credits and exemptions that can save them money and increase their refund.
Some of the key credits available include:
- Earned Income Tax Credit (EITC): A credit for low-to-moderate-income working individuals and families that can result in a substantial refund.
- Child Tax Credit (CTC): A credit for families with children under the age of 17.
- Michigan Home Heating Credit (HHC): Helps reduce the financial burden of heating costs. To qualify for the HHC, you must:
- Be a Michigan homeowner or renter.
- Meet the program’s guidelines for household income.
- Not be a full-time student claimed as a dependent on someone else’s return.
Accounting Aid Society can help clients determine if they qualify and assist with the application process.
Detroit Homeowners Property Exemption
For Detroit residents, the Detroit Homeowners Property Exemption (HOPE) can provide significant financial relief by excusing clients from paying some or all their property taxes. Eligibility is based on whether the individual owns and occupies their home as a primary residence, as well as factors like household income.
Accounting Aid Society assists Detroit homeowners with the application process from May to November each year.
Support for small business owners
Small businesses represent more than 98% of Michigan’s businesses, which employs half of the state’s workforce.
In addition to assisting individuals with their personal tax filings, Accounting Aid Society offers valuable support for small business owners. Navigating the complexities of business taxes, bookkeeping and fiscal management can be overwhelming. Accounting Aid Society helps small business owners:
- File business tax returns accurately.
- Stay compliant with tax laws and avoid penalties.
- Manage business finances, track cash flow and prepare for tax season.
They can also help business owners organize their financial records and develop a plan for long-term business success.
The nonprofit also offers several services to help small business owners improve their financial management skills, including:
- Free initial consultations to assess business needs.
- Free monthly workshops on financial management topics.
- Low-cost support for ongoing financial needs.
- Six-month tax preparation or bookkeeping training with ongoing enrollment.
- Twelve-month Thrive Program to help businesses grow and succeed.
Help with IRS issues
Dealing with the IRS can be overwhelming, especially if you’re facing financial difficulties or don’t understand your taxpayer rights. The Low-Income Taxpayer Clinic (LITC) at Accounting Aid Society provides free legal assistance to help you resolve issues with the IRS, such as:
- Responding to IRS notices or letters.
- Legal assistance in U.S. Tax Court.
- Settling tax debts or setting up payment plans.
- Disputing IRS claims, including Earned Income Tax Credit denials.
- Helping with identity theft or IRS audits
Accounting Aid Society’s LITC team provides no-cost representation, advocacy and education to ensure that low-income taxpayers are treated fairly, and their rights are protected.
How you can support Accounting Aid Society
Accounting Aid Society’s success is due in large part to the dedication of its volunteers who offer their time and expertise to help those in need. For more than 40 years, companies like Masco have partnered with Accounting Aid Society to support its mission of helping individuals and small businesses navigate complex tax and financial challenges.
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Whether you need help with your personal taxes, dealing with the IRS or managing your small business finances, Accounting Aid can support you every step of the way.
To take advantage of these services:
- Call 313-556-1920 to schedule an appointment.
- Visit the Accounting Aid Society website to learn more.