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Client Education & Company Blog

July 25, 2018
alimony

New Divorce Laws To Consider

  The taxation of alimony for divorces signed after Dec. 31, 2018 will change drastically. It will no longer be tax-deductible for the payer, nor taxed […]
July 18, 2018
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Summertime Is A Favorite Season For Scammers

  Keep your eyes open for phishing emails and telephone scams during the summer months. Scammers are known to take advantage of the post-tax season months […]
July 11, 2018
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Want To Retire Some Day? Here’s How To Save More Now!

    Need to save more for retirement? Here are some questions to ask yourself to help you get started and stay on track:  ·      How much […]
July 5, 2018
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Switching Jobs This Summer?

  As you look forward to starting your new job, it’s important to keep in mind how your employment change will affect your taxes.  Here are […]
June 28, 2018
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Consider Creating An ‘Accountable Plan’

Now that itemized deductions have been suspended through 2025, employees can no longer deduct unreimbursed business expenses. Fortunately, you can help your employees out with a […]
June 27, 2018
Don't Forget Your Mid-Year Tax Planning!

Don’t Forget Mid-Year Tax Planning

    Can you believe 2018 is already half over? If you haven’t thought about your 2018 tax situation yet, it’s time to do so. At […]
June 20, 2018
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Audit-Proof Your Shareholder Loan

If you’re a business owner and your company lends you money, you’ll enter it in the books as a shareholder loan. However, if your return is […]
June 13, 2018
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Getting Summer Help? Classify Properly

            Don’t subject your business to tax penalties by misclassifying employees and independent contractors. You can avoid misclassification by understanding how […]
June 12, 2018

Summer Is A Time For Vacations AND Tax Planning

It’s tempting to take a break from everything this summer, but you may regret it come tax season if you push off tax planning. Here are […]
May 30, 2018
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Why A Business Appraisal May Be Your Best Friend

For many business owners, business appraisals can provide vital planning information and help mitigate risk. Consider what it may be able to do for you: Establish […]
May 23, 2018
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Don’t Let Missing Tax Records Be Your Downfall

    Tax records should be kept year-round, not hastily assembled just for your annual tax appointment. Without tax records, you can lose valuable deductions or […]
May 16, 2018
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Home Equity Loan Interest Deductibility Change

Congress cracked the whip on home equity interest tax deductions in 2018. Now, only loans used to buy, build or improve your home will be deductible. […]
May 9, 2018
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Your Refund Check Is Coming – Watch Out!

       Tax Day has passed, which means you’re likely waiting for your refund to arrive. This typically takes about three weeks if you filed […]
May 2, 2018
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Want A Successful Business? Delegate!

It’s easy to get in the mindset that if you want things done the right way you have to do them yourself. But that isn’t always […]
April 25, 2018

2nd Quarter Interest Rates Increase

Interest rates charged by the IRS on underpaid taxes and applied by the IRS on tax overpayments will increase for the second quarter of 2018 (April […]
April 18, 2018
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Additional Day To File Tax Returns

Due to the IRS online payment system being down on “Tax Day”, April 17, the deadline for filing tax returns has been extended 24 hours!     […]
April 11, 2018

Quarterly Estimated Tax Payments Just Got Trickier

    The Tax Cuts and Jobs Act may make paying quarterly estimated tax payments on April 17 a little more complicated. That’s because tax law […]
April 4, 2018
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Extensions Available For 2017 Tax Returns

  No need to panic!       If you aren’t able to finish your federal income tax return by the April 17 deadline, you can […]
April 3, 2018
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Important April 17 Tax Deadlines

As you prepare for tax day, remember that the following are due on April 17:    Individual income tax returns for 2017 2017 calendar-year C corporation […]
March 28, 2018
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Do You Know Your Non-Taxable Income?

There are several sources of revenue that are not subject to income tax. Do you know what they are? Here are the most common sources of […]
March 21, 2018
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More Tax Breaks Available for 2017!

    Several tax breaks were revived for use in 2017 tax filing by last month’s federal budget bill. Among them are four you may be […]
February 28, 2018
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Considering Converting your IRA?

You won’t be able to make contributions to a Roth IRA if your income goes above a certain level. However, you do have the option to […]
February 21, 2018
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Time To Go Through Your Tax Records?

Chances are you’re a little confused about what to keep and what to throw when it comes to tax and financial records. No worries. It’s time […]
February 14, 2018

Big Changes For Taxpayers

The Tax Cuts and Jobs Act was passed at the end of December 2017 with some of the most sweeping changes taxpayers have seen in 30 […]
February 7, 2018
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Health Insurance Confirmation Form Delay

The IRS said it will allow large health insurance companies to delay sending out health insurance confirmation forms. The Jan. 31 due date has been delayed […]
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 […]