Key Financial Solutions Inc

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Key Financial Solutions Inc Key Financial Solutions is an innovator, providing financing and growth capital to companies like yours.

Limited partner status in a business generally offers valuable benefits, including liability protection and self-employm...
10/15/2026

Limited partner status in a business generally offers valuable benefits, including liability protection and self-employment tax advantages. But it may also limit your ability to deduct partnership losses under the passive activity loss rules. Passive losses are usually deductible only against passive income unless you materially participate in the business. Limited partners face a tougher standard than general partners. Certain work, such as investor activities or tasks not customarily performed by owners, may not count toward material participation. Other limitations may also apply. Before investing in a limited partnership or claiming losses, contact us at (313) 221-9397 to discuss the tax implications.

For small businesses that carry inventory, managing it effectively can help improve cash flow, reduce waste and keep cus...
10/14/2026

For small businesses that carry inventory, managing it effectively can help improve cash flow, reduce waste and keep customers happy. Make sure your staff is well trained to regularly review stock levels, track sales trends, and reorder products in a timely, cost-conscious manner. It’s also wise to identify slow-moving items and adjust purchasing decisions accordingly. Wondering how inventory management affects your financial performance? Contact us at (313) 221-9397 for insights and practical guidance tailored to your business needs.

If you’ve recently received a legal settlement or award, it’s critical to understand the tax implications. Generally, co...
10/13/2026

If you’ve recently received a legal settlement or award, it’s critical to understand the tax implications. Generally, compensation for physical injuries or sickness is tax-free. But awards for lost wages, emotional distress and punitive damages typically are taxable. Attorneys’ fees are another area that can trip up recipients. Even if your lawyer is paid directly out of your settlement, you’re generally taxed on the full amount before fees are deducted. This means you may owe tax on money you never actually receive. The bottom line is that the way a settlement is structured can significantly affect your tax liability, making professional guidance essential. Call us today at (313) 221-9397 for assistance.

Now is a good time to review your year-to-date investment gains and losses. If you have net capital gains, consider sell...
10/12/2026

Now is a good time to review your year-to-date investment gains and losses. If you have net capital gains, consider selling investments that have declined in value to help offset your gains — a strategy known as “loss harvesting.” If you have net losses, harvesting gains by selling appreciated investments can allow you to recognize some or all of the gains tax-free. You can also generally use up to $3,000 of net capital losses to offset ordinary income. Contact us at (313) 221-9397 to discuss year-end tax planning for your investments.

Are you thinking of launching a new business as a C corporation? Beware of double taxation. First, the company will pay ...
10/08/2026

Are you thinking of launching a new business as a C corporation? Beware of double taxation. First, the company will pay tax at the entity level. Then the individual shareholders may owe additional tax when they receive dividends and other taxable distributions or sell their shares. Reducing corporate taxable income can lessen the impact. For example, the company can generally deduct reasonable salaries, bonuses and eligible fringe benefits provided to shareholder-employees. This strategy also has potential downsides. Choosing your business entity requires careful consideration. Contact us at (313) 221-9397 to compare your options and determine whether a C corporation is the right structure for your start-up.

Tax problems can leave you tied in knots. Whether you’re dealing with an IRS notice, penalty or another tax issue, you d...
10/07/2026

Tax problems can leave you tied in knots. Whether you’re dealing with an IRS notice, penalty or another tax issue, you don’t have to sort through the complexities alone. We can help untangle the issues, explain your options and determine your next steps. Contact us at (313) 221-9397 to discuss your situation.

Are you paid to care for a family member? Don’t overlook the tax implications. Depending on the arrangement, a family ca...
10/06/2026

Are you paid to care for a family member? Don’t overlook the tax implications. Depending on the arrangement, a family caregiver may be considered a household employee, which can create employment tax and Form W-2 obligations for the person receiving care. In other situations, the caregiver may not be an employee but still must report the payments as income. Self-employment tax may also apply if the caregiver operates a trade or business providing care services. But employment tax or self-employment tax exceptions may apply when caring for a spouse, parent, child or other relative. Contact us at (313) 221-9397 to discuss your family’s situation.

We’re more than just tax and accounting professionals. We’re your partners in business growth. Beyond preparing your tax...
10/05/2026

We’re more than just tax and accounting professionals. We’re your partners in business growth. Beyond preparing your tax returns and keeping your books in order, we can help you improve cash flow, safely plan for expansion and make smarter financial decisions. Let’s talk about how our advisory services can strengthen your strategic planning, streamline operations, and uncover new opportunities for long-term growth and success. Call us today at (313) 221-9397 to schedule a consultation.

Does your business hold intangible assets? Intangibles are nonphysical, long-term resources that can add significant val...
10/01/2026

Does your business hold intangible assets? Intangibles are nonphysical, long-term resources that can add significant value to a business. Examples include copyrights, licenses and customer lists. The tax implications can be complex. IRS regulations require the capitalization of costs to 1) acquire or create intangibles; 2) create or enhance a separate, distinct intangible; 3) create or enhance a future benefit identified in IRS guidance as capitalizable; or 4) facilitate the acquisition or creation of intangibles. Capitalized costs can’t be fully deducted in the year paid or incurred. They generally must be ratably deducted over the asset’s life. Questions? We’re here to help. Call us at (313) 221-9397.

There are several benefits to having an estate plan. It can protect your wealth while giving you peace of mind that your...
09/30/2026

There are several benefits to having an estate plan. It can protect your wealth while giving you peace of mind that your assets will be distributed according to your intentions. In addition, it can save taxes, minimize legal complications and family disputes, and reduce expenses for your heirs. Do you have young children? An estate plan is a must so you can name guardians for them in the event of your untimely death. If you’re ready to begin your estate planning journey, or if you’d like us to review your current plan, contact us at (313) 221-9397.

Address

19411 West McNichols Road
Detroit, MI
48219

Opening Hours

Monday 11am - 5pm
Tuesday 11am - 5pm
Wednesday 11am - 5pm
Thursday 11am - 5pm
Friday 11am - 5pm
Saturday 12pm - 3pm

Telephone

+13132219397

Website

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