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Client Education & Company Blog

February 2, 2018
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Exciting Changes!

The Heintzelman Accounting Services Team has been working hard to bring some exciting new changes to our firm this year. Rest assured these upcoming changes will […]
January 31, 2018
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Enrolled Agent Week 2018

Governor Rick Snyder has proclaimed February 4 – 10, 2018 as “Enrolled Agent Week”.  This proclamation is to educate the public about the qualifications “EAs” must […]
January 31, 2018
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Keep Good Records For Mutual Funds

Brokers are required to report your cost basis to the IRS. Without good recordkeeping, you may not be able to prove you were overtaxed because of […]
January 24, 2018
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Don’t Ignore the Nanny Tax!

As you review your filing requirements for 2018, make sure you don’t overlook the nanny tax related to household employees. If you have a housekeeper or […]
January 17, 2018
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W-2 Due Date

REMINDER – January 31 is the due date for employers to provide W-2 statements to employees and to file Forms W-2 with the SSA (both paper and […]
January 10, 2018
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Tax Filing Begins January 29

For all you early birds, the IRS will begin accepting tax returns on January 29, 2018. If you haven’t e-filed in the past the IRS suggests […]
January 3, 2018

Faster Tax Refund

If you want to get your 2017 tax refund as quickly as possible, don’t use snail mail.  The IRS asks taxpayers to electronically file 2017 tax […]
December 29, 2017

2018 Minimum Wage Increased

Beginning January 1, 2018, the new minimum wage rate in Michigan increases to $9.25 for hourly employees. For employees aged 16 and 17, employers  are allowed […]
December 28, 2017

2018 Mileage Rates Announced

Beginning on Jan. 1, 2018, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:  54.5 cents for […]
December 27, 2017

Your Business Year-End Health Check

Business owners and managers spend most of their time monitoring operations and dealing with everyday problems. But just as an annual checkup from your doctor helps […]
December 20, 2017

5 Year-End Tax Tips

The clock is ticking down to 2018 … but you still have a few weeks left to make some last-minute tax moves. Take a look at […]
December 18, 2017

Are You Giving A Year-End Bonus?

Bonuses are a great way to motivate or reward employees, but it can also quickly change one’s tax return and the amount of taxes initially withheld […]
December 13, 2017

Donating To A Charity?

If you plan on donating to a charity, take steps to ensure it’s tax-deductible. First, check to see if the organization you’d like to donate to […]
December 6, 2017

The Holidays – A Time For Mistletoe And… Fraud?

It’s not surprising that identity thieves and con artists love the holidays. More shoppers, more deals and more buying motivation makes the season rife with opportunities […]
November 29, 2017

Want To Give This Year? Here’s What You Need To Know

Giving on a yearly basis could trim both your estate and income taxes. First, there’s the annual exclusion for gifts. Currently, you can give $14,000 annually […]
November 22, 2017

2018 Social Security Change

The Social Security Administration stated there will be a 2 percent cost-of-living adjustment (COLA) to monthly Social Security and Supplemental Security Income benefits for 2018. This […]
November 15, 2017

Avoid Penalties

Estimate your 2017 taxes. You still have time to increase your payments and avoid penalties if you’ve underpaid!  
November 15, 2017

Health Insurance Enrollment

The open enrollment period for 2018 health insurance plans runs from Nov. 1 to Dec. 15, 2017. Visit www.healthcare.gov.  
November 8, 2017

We Now Have Texting Capabilities!

You can now reach our staff directly with texting.  To text us, simply send a new text message from your phone to our main office phone […]
November 1, 2017

Debt Forgiveness and Taxes

Did you know that any amount of canceled debt is typically taxed as ordinary income? If you receive debt forgiveness for home, car or student loans, […]
October 25, 2017

4 Smart Ways To Cut Business Costs

Keeping costs under control is crucial in today’s challenging business environment. Without a doubt, one of the quickest ways for a business to cut costs is […]
October 18, 2017

Are You Withholding Enough For Taxes?

Don’t leave it up to chance – check your 2017 tax withholdings while you still have some time to make changes. You can use the withholding […]
October 11, 2017

Employee Meals: 50 or 100 Percent Deductible?

Everyone loves a free meal – especially employees. However, your business tax return will be affected differently depending on the circumstances of the mealtime experience. While […]
October 4, 2017

Your Receipts Are Important: Save Them!

Deduction opportunities abound for people who know the importance of saving their receipts and keeping proper documentation. When it comes to taking qualified deductions on your federal […]
September 27, 2017

How Bartering Affects Your Tax Return

If you exchanged items or services with someone and didn’t use money, you’ve bartered! That means you have to list the difference in fair market value […]
September 20, 2017

You’re Getting Audited – Here’s What To Do

Most of us will never be audited. But when it does happen, it might feel a little scary. The truth of the matter is IRS auditors […]
September 13, 2017

Is Your Hobby Actually A Business?

If you invest a ton of personal time and effort into your hobby, plus you have multiple customers and keep professional records, your hobby might actually […]
September 6, 2017

Don’t Pay Tax on a Home Sale

The law lets you sell your home tax-free if you meet certain requirements. The home must have been owned and used as your principal residence for […]
August 31, 2017

The Good, The Bad, and The Ugly of Your HSA

Health Savings Accounts (HSAs) are a great way to pay for medical expenses, and since unused funds roll over from year to year, the account can […]
August 29, 2017

529 College Savings Plan Distribution Rules

After years of putting money in your 529 college savings plan, you’re ready to start taking withdrawals to pay tuition bills. Do you know the rules […]
August 29, 2017

Tax Deadlines for Businesses

September 15 is an important tax filing deadline for partnerships and corporations. It’s the filing deadline for 2016 tax returns for calendar-year S corporations that received […]
August 23, 2017

Potential Tax Breaks While Job Hunting

As the job market continues to improve, more people are embarking on a job hunt. Did you know there’s a potential tax break in a job […]
August 21, 2017

How To Build Your Business Credit

Whether your firm has been operating for years, or you decided over last night’s coffee to start a new venture, you’re sure to face the need […]
August 17, 2017

Start Smart: 5 Items To Focus On When Starting A New Business

Are you starting a new business this year? Put these items on your to-do list: Business plan. Outline who will own the business and what the […]
May 31, 2017

Why You Should Consider A Mid-Year Tax Review

Most people don’t include tax planning on their summertime agenda, but there are benefits to doing so. The problem with waiting until the end of the […]
May 24, 2017

Good Tax Records Are Important

Keeping your tax records organized year-round is a good practice and will keep you from hastily assembling your documents for your annual tax preparation appointment. If […]
May 17, 2017

What Should You Do When The IRS Contacts You?

After you file your tax return, the last thing you want to see is a notice from the IRS questioning your return. Some IRS notices involve […]
March 29, 2017

Estimated Tax Payments – Do You Need To Make Them?

April 18 is both the day individual income tax returns for 2016 are due and the due date for the first estimated tax payment for 2017. […]
March 22, 2017

Do You Owe Self-Employment Tax?

Did you work as a sole proprietor or independent contractor in 2016? If you earned more than $400 during 2016 from the work you did, you […]
March 16, 2017

Update Your Mileage Reimbursements For 2017

If you intend to use your vehicle for business, charitable activities, medical appointments, or moving during 2017, be aware that the optional standard mileage rates for […]
March 15, 2017

Taxable or Not Taxable? You Might Be Surprised

Have you ever wondered about the taxability of funds or services you receive? There are many areas in the tax code that cause confusion regarding what’s […]
March 8, 2017

Waiting On Your Refund?

The IRS processes most tax returns in 21 days for electronic filings and 6 weeks for paper returns. You can use the “Where’s My Refund?” tool […]
March 8, 2017

March 15 Deadline

March 15 is the deadline for calendar-year Corporations to file 2016 income tax returns or an extension request.   2016 Partnership tax returns are also due March […]
March 1, 2017

What Tax Records Should I Keep?

It’s that time of year when you are getting ready to sort out last year’s financial records and prepare for this year’s recordkeeping. Do you know […]
February 22, 2017

Tax Planning 2017

Each year, certain tax figures are adjusted for inflation. While most figures are unchanged versus 2016, there is more than a 7% increase to the maximum […]
February 15, 2017

“Dependent” Defined

Many people think of a “dependent” as a minor child who lives with you. This is true, but it’s important to remember dependents can include parents, […]
February 9, 2017

Can’t Itemize? You Can Still Claim Some Expenses

Can’t itemize? You can still claim some expenses on your 2016 federal income tax return. Here’s how you can benefit. * IRA and HSA contributions If […]
January 18, 2017

Three New Tax Filing Deadlines

As you begin preparing your final payroll tax returns for 2016, take into account earlier due dates for two common information reporting forms and one extended […]
January 16, 2017

Tax Refund Delay Impacts Low-Income Americans

For many of the 40 million low-income Americans, their annual tax refund is the biggest check they get all year.  But many times scammers and organized […]
January 11, 2017

Do You Need To Revise Your Final Estimated Tax Payment?

The last installment of your 2016 estimated federal income tax is due January 17, 2017. As a general rule, to avoid penalties you need to pay […]