has Blog

Client Education & Company Blog

January 5, 2017

2016 Tax Filing Season

The IRS says the 2016 tax filing season begins January 23, 2017, for both paper and electronic filings.   
January 5, 2017

Final 2016 Estimated Tax Payment

The fourth and final installment of 2016 estimated tax for individuals is due January 17, 2017.  
December 28, 2016

Clean Your Financial House For The New Year

No matter whether you apply the expression to changes in attitude or to life adjustments, the end of the year is a great time to assess […]
December 21, 2016

S Corporation? Check your basis!

Typically, stock basis in an S corporation begins with the capital contribution you make to get the company started. At the end of each taxable year, […]
December 14, 2016

Retirement Tax Break Benefits for 2016

December 31 is the last day you can benefit from certain retirement tax breaks. For example, if you haven’t put the maximum amount allowed in your […]
December 13, 2016

Michigan Minimum Wage Increasing

Beginning January 1, 2017, the minimum wage rate in Michigan increases to $8.90 per hour.  This is the third step in 2014’s Public Act 138 which […]
December 7, 2016

Should You “Bunch” Your Medical Deductions?

Bunching deductions means timing the payments between years to get the best tax deduction. Since 2016 is the last tax year that taxpayers age 65 or […]
November 30, 2016

Social Security Wage Base Increase

If you’re an employer, you’ll need to withhold social security tax from a higher amount of your employees’ wages in 2017. The wage base for withholding […]
November 16, 2016

When Should I Move To The Cloud?

It’s never too late to move to the cloud!  There isn’t necessarily a best time or best way for each business to begin the transition.  One […]
November 10, 2016

2017 Social Security Benefits

In 2017, retirees under full retirement age can earn up to $16,920 ($15,720 in 2016) before social security benefits are reduced.  
November 2, 2016

“Everyone” is Not Your Customer

Indiscriminately trying to sell to “everyone” can dilute your message, muddy your image, and waste your company’s resources. To market effectively, you have to know your […]
October 26, 2016

Keep An Eye On Your Company’s Cash

Being aware of where your cash is going can help prevent theft or improper expenditures, which are among the chief sources of loss for small companies. […]
October 19, 2016

Fight Scammers The Old-School Way

Scam artists are relentless in finding ways to take your money. But some old-school methods are still effective for protecting yourself. Here are suggestions. Fortify your […]
October 12, 2016

IRS Scam Warning

The IRS has again issued a scam warning. The newest scam involves receiving via email a fake version of an IRS bill related to the Affordable […]
October 5, 2016

October 17 Deadlines

Did you extend your 2015 federal individual income tax return? October 17 is the final deadline. And if you put too much money in your IRAs […]
September 28, 2016

Asamu Johnson On Stage

Check out Asamu Johnson and The Associates of The Blues at the African American Art & Music Celebration last Saturday!    
September 21, 2016

Your Business, Your Salary

As the owner of your business, you are the decider of salaries for your staff. That’s true for your own salary too. While there is no […]
September 14, 2016

Education Tax Breaks

Are your children in college? You may be able to offset some of the costs of their education with tax breaks. Here’s a “tax primer.” Education […]
September 7, 2016

Deadline For Retirement Plan

Looking for a business retirement plan that you can set up for 2016? You have until October 1 to adopt a SIMPLE plan.  
September 7, 2016

Third Payment Due

Remember to make your third individual estimated tax payment by September 15. Contact us if you need help.  
August 31, 2016

Work-Related Education Costs

Are you going to school this fall to earn an advanced degree or to brush up on your work skills? If so, you might be able […]
August 17, 2016

Get Serious About Catching Up

If you’re age 50 or older, tax law has a permanent provision that lets you make extra contributions to your retirement plans. These “catch-up” contributions vary […]
August 10, 2016

Receive A Notice From The IRS?

The IRS sends millions of taxpayer notices every year. If you get one, don’t panic! Give us a call and we’ll help you sort out the […]
August 3, 2016

Start Preparing – New Overtime Rules

In May, the U.S. Department of Labor updated the rules for paying overtime. Under the new rules, salaried employees who earn less than $913 per week […]
July 27, 2016

Don’t Be Forced Out Of A 401(k)

When you change jobs and abandon vested amounts in your 401(k), your former employer has to follow IRS rules and plan provisions for dealing with your […]
July 20, 2016

Preventing Fraud In Your Business

How can you prevent employee fraud in your business? Here are four suggestions.  ●   Screen job applicants. Check work references, criminal records, and professional recommendations. By instituting […]
July 13, 2016

Form 5500 Due Date Approaching

August 1, 2016, is the deadline for filing Form 5500 for retirement or employee benefit plans on a calendar year. (The usual due date of July […]
July 6, 2016

Small Business Auditing

The IRS says more attention will be given to auditing small businesses, including S corporations, as newly hired auditors come on board. Contact our office for […]
June 29, 2016

HSA Contribution Limits for 2017

The IRS recently announced the inflation-adjusted contribution limits for health savings accounts (HSAs) for 2017. HSAs combine high-deductible health insurance plans with a medical savings account. […]
June 22, 2016

Summer Day Care Expenses Can Add Up To A Tax Credit

Did you know that you can claim a federal income tax credit when you pay someone to care for your kids while you’re at work or […]
June 15, 2016

What You Need To Know About Hiring Seasonal Workers

If summertime is a busy time for your business, you may be ready to hire seasonal workers. Here are tax rules to keep in mind. ● […]
June 8, 2016

New Overtime Rules Finalized

The Department of Labor has published a Final Rule to the Fair Labor Standards Act on overtime pay protections for EAP (executive, administrative, professional) employees.  The […]
June 8, 2016

Second Estimate Tax Payment Due

Review and pay your 2016 individual estimated tax before June 15. That’s the due date for making the second payment.  
May 31, 2016

Luxury Auto Depreciation Limits for 2016

The IRS recently issued the depreciation limits for business vehicles you buy and place into service this year. For cars, if 50% bonus depreciation does not […]
May 25, 2016

Don’t Lose Part Of Your IRA Inheritance To Penalties

If you inherit an Individual Retirement Account from someone other than your spouse, you may be surprised to learn you have to take distributions. That’s generally […]
May 18, 2016

Keep Track Of Summer Rental Income

Are you thinking of signing up with one of those websites that link travelers to property owners with space to spare? If you plan to offer […]
May 9, 2016

NonProfit Annual Returns Due

May 16, 2016, is the deadline for filing annual information returns for nonprofit organizations. Missing the due date three years in a row means losing tax-exempt […]
May 4, 2016

Include Your Tax Paperwork In Your Spring Cleaning

Looking to minimize clutter? Here are recordkeeping guidelines that will help you do just that while retaining what’s important. ●  Income tax returns. Keep these at […]
April 27, 2016

Update Your W-4 Withholding

Did you receive a big tax refund or owe the IRS a lot of money for 2015? Then it’s time to update the form that tells […]
April 20, 2016

Should You Make Estimated Tax Payments?

If you’re required to make quarterly estimated tax payments this year, the first one is due on the same day as your federal income tax return. […]
April 11, 2016

Last Chance To Claim A 2012 Refund

According to the IRS, nearly one million taxpayers who failed to file a return for 2012 are in danger of losing refunds. Tax law provides a […]
April 11, 2016

Give Yourself More Time To File

Can’t finish your federal income tax return by the April deadline? Requesting an extension to shift the due date to October 17, 2016, takes three steps: […]
April 6, 2016

Teach Your Children This Vital Skill

Financial literacy is a vital skill in today’s world. Will your children be able to handle their finances when they became adults? Here are tips to […]
March 30, 2016

Smart Review Tactics Lead To Long-Term Business Success

As a business owner, monitoring operations and dealing with everyday problems no doubt takes up the bulk of your day. But carving out time for a […]
March 23, 2016

Use Taxes To Reduce Your Tax

Are you planning to itemize on your 2015 federal income tax return? If so, you can claim a deduction for taxes paid. According to IRS statistics, […]
March 16, 2016

Be Aware – 4 IRA Rules

If you have an individual retirement account, you’re aware of how complicated the rules can get. Here are four to remember as you prepare your 2015 […]
March 9, 2016

Get Credit For Retirement Contributions

Did you make contributions to a traditional or Roth IRA, a myRA, or a SEP or SIMPLE plan in 2015? You may qualify for the Retirement […]
March 2, 2016

Who Can Be Your Dependent?

You might believe a “dependent” is a minor child who lives with you. While that is essentially correct, dependents can include parents, other relatives and nonrelatives, […]
February 24, 2016

What’s The Penalty For Not Having Health Insurance?

Did you have health insurance in 2015? If not, you may owe a penalty on your federal income tax return. For 2015 returns, the penalty is […]
February 17, 2016

Form 1099 Penalties Increase Sharply

Have you filed required Forms 1099 for 2015? The forms were due by February 1 to individuals you paid $600 or more in the course of […]