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Client Education & Company Blog

July 16, 2021

Know Where You Stand: Use QuickBooks Reports

If you’re currently using QuickBooks, you know how it’s transformed your daily bookkeeping practices. You can create sales forms like invoices quickly and actually find them […]
June 18, 2021

Some Small Businesses are Recovering. Is Yours?

The COVID-19 pandemic isn’t over, but many small businesses are on the upswing. How QuickBooks Online can help if yours isn’t. Intuit recently did a survey […]
June 18, 2021

The IRS is Resuming Collection & Enforcement Activities That Were Paused During COVID-19

The IRS is reporting that it is resuming “certain collection and enforcement processes that had been suspended because of the coronavirus pandemic.” On June 15, 2021, […]
June 18, 2021

Exit Strategy: How to Create One for Your Small Business

Owning your own small business is a dream that few are fortunate enough to realize, but even those new to the joys of entrepreneurial self-determination need […]
June 18, 2021

Accounting for Restaurants: A Guide to Setting Your Business up for Success

Operating a restaurant is a dream for many, but there’s a lot more to it than meets the eye. There are far more restaurants and food-related […]
June 18, 2021

Haven’t Received Your Tax Refund Yet?

You are not alone. We have been hearing from clients who are still waiting on refunds from returns filed early in the year. In normal times, […]
June 18, 2021

Tax Breaks for Families with Children and Lower-Income Taxpayers

2021 is the Year of Substantial Tax Breaks for Families with Children and Lower-Income Taxpayers. This is an overview of the several tax benefits that were […]
June 18, 2021

IRS Unveils Online Tool to Register for Monthly Child Tax Credit Payments

As we noted in prior articles, Congress has made substantial changes to the Child Tax Credit (CTC) for 2021.  The CTC has been increased to as […]
June 11, 2021

Tax Issues with Vacation Homes

Do you own a second home at the beach, in the mountains, or some other getaway location, or are you thinking about buying one? If so, […]
May 27, 2021

Tax Return Mistake?

My Tax Return for 2020 Has Been Filed – What If I Find Out I Made A Mistake? Generally speaking, tax return mistakes are a lot […]
April 21, 2021

You Can Expense Business IT Purchases

Many businesses will be able to expense (write off as a tax deduction) all such assets purchased and placed in service before the end of the […]
April 21, 2021

How to Evaluate Your Business Idea Before Diving In

They say that everybody has at least one good novel in them, and many people feel the same way about ideas for a successful business. If […]
April 21, 2021

Don’t Be a Victim to Scammers Impersonating the IRS

Thieves use taxpayers’ natural fear of the IRS and other government entities to plan their scams, including e-mail and phone scams, to steal your money. They […]
March 24, 2021

The American Rescue Act – SIMPLIFIED

The following is a brief summary of the American Rescue Plan Act of 2021, which was signed into law on March 11, 2021. Economic Impact Payments […]
March 17, 2021

Tax Consequences of Crowdfunding

Raising money through Internet crowdfunding sites prompts questions about the taxability of the money raised. A number of sites host money-raising projects for fees generally ranging […]
March 17, 2021

Required Minimum IRA Distributions Will Resume in 2021

As part of the CARES Act, the requirement for older taxpayers to take required minimum distributions (RMDs) from their retirement plans was waived for 2020. This […]
March 17, 2021

Keep Up With Payables: Paying Bills in QuickBooks

This month, we’ll discuss paying your bills in QuickBooks. Open up Quick Books and click Pay Bills on the home page or open the Vendors menu and select Pay Bills. The […]
March 17, 2021

Tax Deductions Without Itemizing

Most taxpayers think they have to itemize their deductions to claim them on their tax return. However, that is not entirely true. There are certain deductions […]
March 17, 2021

Special Rules Apply to 2020 Earned Income Tax Credit and Child Tax Credit

Because of the pandemic, many individuals have seen their employment (earned) income plummet. In that situation, two very important tax credits, the Earned Income Tax Credit […]
March 12, 2021

The American Rescue Plan Act Passed – How Does This Affect You?

The American Rescue Plan Act has passed and includes a third, much-anticipated, economic impact payment (EIP). This is one of several government measures intended to help […]
March 5, 2021

Mom & Pop Businesses Move to Front of the Line for PPP Loans

At the direction of the White House and effective on Wednesday, February 24, 2021, the SBA will establish a 14-day, exclusive PPP loan application period for […]
February 17, 2021

Interaction between PPP Loans and the Employee Retention Credit

The Consolidated Appropriations Act, 2021 (CCA), which was passed by Congress and signed by the president late last December, included a very tax-beneficial provision that liberalized […]
February 17, 2021

Employee Retention Credit Extended

In order to help trades and businesses retain employees and keep them employed during the COVID-19 crisis, the Coronavirus Aid, Relief, and Economic Security (CARES) Act […]
February 10, 2021

4 Questions Business Owners Should Consider During the 2020 Tax Season

As if 2020 wasn’t challenging enough, this season’s tax-filing is going to be even more complicated than usual. Though the CARES Act and the Paycheck Protection […]
February 10, 2021

Beware: These Tax Return Red Flags Could Catch the Eye of the IRS

Tax time can be one of the most hated times of the year. Just preparing the forms is enough to be an irritant, and if you […]
February 10, 2021

Should You Charge Late Fees? Quickbooks Can Help

Do you have a lot of aging receivables? Assessing finance charges can speed up customer payments. Have your customers been submitting payments later than usual these […]
February 3, 2021

Tax Time is Around the Corner! Are You Ready?

Tax time is just around the corner, and if you are like most taxpayers, you are probably facing the ominous chore of compiling records in preparation […]
January 27, 2021

IRS Offers New Identity Protection for Taxpayers

In the past, the IRS has assigned verification numbers to victims of identity theft to file their tax returns, if requested by the victimized individual. These […]
January 27, 2021

How Biden’s Rescue Plan Might Impact Your Taxes

President Biden released his “American Rescue Plan” on January 14th, 2021. The list consists of proposals he wants Congress to enact to address the COVID-19 pandemic […]
January 22, 2021

Congress Has Authorized the Second Round of PPP Loans

Congress passed, and President Trump signed, the Consolidated Appropriations Act, 2021. Included in its approximately 5,600 pages is the second draw of forgivable Paycheck Protection Program […]
January 20, 2021

2021 Standard Mileage Rates Announced

The Internal Revenue Service (IRS), each year, computes standard mileage rates for the use of a vehicle for business, medical and moving purposes based on a […]
January 20, 2021

Charitable Contributions Deduction Liberalized for 2021

As a means to stimulate charitable contributions during the COVID crisis, Congress made two notable changes for 2020—one allowing taxpayers that don’t itemize their deductions an […]
January 12, 2021

The Consolidated Appropriations Act Opens the Employee Retention Credit up to PPP Borrowers!!

While all of us would rather forget and put 2020 behind us, the recent Act signed by the president made some retroactive changes to some of […]
December 30, 2020

Emergency COVID-19 Agreement Reached

After several months of the Republicans and Democrats not being able to agree on additional COVID-related tax relief and other matters, Congress configured much-needed legislation. The […]
December 28, 2020

Your Annual Reminder to File Worker 1099s

This is our annual reminder that if you use workers other than employees to perform services for your business and pay them $600 or more for […]
December 9, 2020

Employee Holiday Gifts May Be Taxable

It is common practice this time of year for employers to give their employees gifts. Where a gift is infrequently offered and has a fair market […]
December 7, 2020

Don’t Fall Behind in Saving for Retirement

Some folks have been tapping or suspending their retirement savings to make ends meet during this COVID-19 pandemic, and although understandable, it is important that they continue […]
December 2, 2020

Tax Planning Strategies for Small Businesses

If you are a small business owner, every penny of your income counts. This means that you not only want to optimize your revenue, but also […]
November 11, 2020

10 Tips for Better Budgeting

If you already have a budget, it’s probably been difficult for you to stick with it for the last several months. Unless you provide products and/or […]
November 2, 2020

The SBA Issues a Simplified PPP Loan-Forgiveness Application

If you are the owner of a small business that obtained a Paycheck Protection Program (PPP) loan, you are most likely aware that the loan can […]
October 23, 2020

Are You Paying Too Much Interest on Your Home Mortgage?

Interest rates are currently at an all-time low, and it may be time for you to consider refinancing your existing home mortgage to take advantage of […]
October 16, 2020

Still Waiting for the IRS to Cash Your Check?

During the COVID-19 pandemic, the IRS has furloughed many of its employees or had them work from home to mitigate the spread of the virus. Many […]
October 7, 2020

Have You Planned for the Taxes on Your Unemployment Benefits This Year?

With the passage of the CARES Act stimulus package earlier this year, the federal government added $600 to the normal state weekly unemployment benefits and increased […]
October 2, 2020

Are You Ready for the 1099-NEC?

The Internal Revenue Service has resurrected a form that has not been used since the early 1980s, Form 1099-NEC (the NEC stands for Non-Employee Compensation). This […]
September 23, 2020

Scammers Using Fake Letters in Collections Scam

Michigan taxpayers with past-due tax debts should be aware of the newest scam making its rounds through the U.S. Postal Service. To summarize, taxpayers receive a […]
September 16, 2020

Futures for Frontliners Program

Governor Gretchen Whitmer, along with leaders in education, business, labor, and workforce development, launched the nation’s first program offering tuition-free college for those who provided essential […]
September 11, 2020

Is the Temporary Deferral of Employee Payroll Tax Worth It?

September 5, 2020

I’ve Used My PPP Funds…Should I Apply for the Loan Forgiveness Now?

Now that most businesses have used or come close to using all their PPP funds, many are eager to begin submitting their applications for loan forgiveness. […]
August 19, 2020

Key Things All Businesses Should Think About When Working Remotely

As businesses continue to adjust to the new normal of remote work, it is important that your organization is equipped with the proper resources to succeed. […]
July 13, 2020

Staff Accountant

Staff Accountant Our growing firm is looking for a diligent person who wants a challenge, variety, and the opportunity to expand their expertise in the accounting […]