MJS TAX SERVICE

Expert tax preparation, payroll services, and bookkeeping tailored for your business needs.

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What’s New?

You may be affected by changes in new State and Federal tax laws. If you work overtime, have purchased a ncew car, work for tips or are a senior, please review the changes below

Overtime exemption

Changes in Overtime Taxes

With effective dates between 2025 and 2028 filing years the ‘Premium’ amount of a taxpayer’s
overtime may be used as a deduction by qualified individuals. The maximum deduction that
may be taken will be $12,500 for single filers and $25,000 for married filers. The deduction
amount will ‘phase-out’ or lessen as the income goes above $150,000 for single filers and
$300,000 for married filers.
Your employer has been mandated to report these earnings on your behalf. This means that
your employer should be providing you with documentation to support your qualified deduction
on your tax return!
This will be in effect for both the Federal government and the State of Michigan returns!

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Auto interest deduction

Car Loan Interest Deduction

With effective dates between the 2025 and 2028 filing years, qualifying individuals may deduct
the interest paid on a loan to purchase a NEW vehicle for personal use. The maximum deduction for qualified individuals will be $10,000. The deduction will ‘phase-out’ or lessen for single filers that claim $100,000 or more in income and married filers who claim $200,000 in income. To qualify you must meet these criteria: vehicle purchase was after December 31st
2024, must be a new vehicle not used, must be for personal use not for business, and the vehicle must be secured by a lien holder. The two most important qualifications are, a gross weight of the vehicle less than 14,000 pounds and the vehicle’s final assembly must have been done in the United States. Your lien holder or lender must provide you with a statement at the beginning of the year to report qualified loan interest.

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Taxes on tips

Tax on Tips

This deduction is for those who earn qualified tips that have been reported on forms W2 and of
1099 and fall within the occupations listed by the IRS (wait staff, hairdressers, etc.). The effective date for this deduction will be tax years 2025-2028.

Qualified tips will be those reported from cash, charge cards and or tip sharing through your occupation. The maximum annual deduction will be $25,000. The deduction will phase out for taxpayers with an adjusted gross income over $150,000 for single/ head of house filers and $300,000 fo married joint filers.

This will be in effect for both the Federal government and the State of Michigan returns!

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seniors income

Senior Income

Between the filing years of 2025 and 2028 people over the age of 65 as of the 31st of the previous year to filing will qualify for an additional $6,000 deduction. This deduction is per person, I.E a married couple who are both over 65 will receive a $12,000 deduction on their file. Unfortunately, this deduction also has a ‘phase-out’ at the income level of $75,000 for single filers and $150,000 for married filers.

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Your Attractive Heading

8 Years of Experience and Success

I have been filing taxes going on nine years. I started with a local company moving through the ranks to senior preparer before making the move to independent operator here at MJS Tax Service. With thousands of countless files prepared, ranging from personal to business, farms to non-profits, I am ready to work with you!

Work With Us

Hundreds of Satisfied Clients

I have happily served the needs of hundreds of individuals and businesses across the United States.

Supporting Local Business

As a local entreprenuer myself, I would like to pass along information for other local businesses that garner my support and appreciation.

Our Location

11500 N Saginaw Rd., Clio, MI

Hours

January 12 – April 17, 2026
Mon. & Tues: 9:00am-6:00pm
Wed: 9:00am-4:00pm
Thurs: 9:00-5:00pm
Fri: 9:00am – Last Appointment
Sat: Appointment Only

Contact

Phone: 810-962-2229
Email: Matt@MJSTaxService.com