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Client Education & Company Blog

February 10, 2016

Will This Due Date Extension Hold Up Your Tax Return?

In December, the IRS extended the time to file for employers who were required to provide health care information forms such as Form 1095-C to employees. […]
February 3, 2016

Adjust Your Mileage Reimbursements for 2016

Standard mileage rates for deductible vehicle expenses have decreased from the 2015 rates. Here are the rates to use to calculate 2016 reimbursements and deductions. Business. […]
January 27, 2016

Tax Breaks Extended or Permanent

In mid-December, Congress renewed a long list of tax breaks known as “extenders” that have been expiring on an annual basis. This year many of the […]
January 25, 2016

February 1st is “EA Day”!

We are pleased to announce that Governor Rick Snyder has proclaimed February 1, 2016 as “Enrolled Agent Day”! Happy EA Day to ‘America’s Tax Experts’! EA […]
January 20, 2016

Three Tips To Start Your Tax Prep

Check whether your children need to file a 2015 tax return. They’ll need to file if wages exceeded $6,300, self-employment income was over $400, or investment […]
January 14, 2016

Keep Track Of These Upcoming Tax Deadlines

●    January 15 – Final 2015 individual estimated tax payment is due, unless your 2015 tax return is filed and taxes are paid in full by […]
January 6, 2016

Does Your Business Need To File Form 1099

You may be most familiar with Form 1099-MISC, which you use when your business makes miscellaneous payments in excess of $600 for services to nonemployees. What […]
December 30, 2015

Business Health Review

As an owner and/or manager, you probably spend a lot of time monitoring business operations and dealing with everyday problems. But a longer-term approach is also […]
December 23, 2015

Did You Pay Domestic Employees in 2015?

Nannies, housekeepers, caregivers – the people who make your home life easier – are your employees, and you’re required to comply with income and payroll tax […]
December 16, 2015

Get A Head Start On Your 1099 Reporting

No matter what type of business you operate, January is busy. You’re trying to get your business off to a good start in the New Year, […]
December 9, 2015

Avoid Health Care Penalty

Sign up for 2016 health coverage to avoid a penalty. Enroll by December 15 for coverage effective January 1, 2016.  
December 9, 2015

Corporate Installment Due Date

December 15 is the due date for calendar-year corporations to pay the last installment of 2015 estimated income tax.  
December 2, 2015

Should You Increase Your Withholding?

Will the federal income tax withheld from your wages be enough to meet your 2015 federal income tax liability? If not, you can choose to make […]
December 1, 2015

Minimum Wage Increase 2016

Michigan’s Minimum Wage for Hourly and Tipped Hourly Employees increases effective January 1, 2016.  Are you prepared?: What is Michigan’s Minimum Wage?  
November 24, 2015

Raiding Your 401(k) Is Not A Good Idea

When you’re short of cash, raiding your 401(k) plan may seem like a good idea. Here are two reasons why it isn’t. Penalties and taxes. If […]
November 18, 2015

2015 Gift Tax Exclusion

This year you can give up to $14,000 to as many individuals as you want without any gift tax liability. If you’re married and your spouse […]
November 11, 2015

2016 Health Care Enrollment

The health insurance Marketplace (www.healthcare.gov) “open enrollment period” began November 1 for 2016 individual health insurance coverage. Open enrollment is the annual period of time during […]
November 4, 2015

Law Revises Due Dates for 2016 Returns

The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 changed due dates for some 2016 federal business returns (the ones you’ll file in […]
October 28, 2015

Breakeven Analysis An Important Business Tool

Breakeven analysis is an important and useful tool in business. Whether you’re starting a new business, expanding current operations, contemplating an acquisition, downsizing, or approaching banks […]
October 21, 2015

Deciding When To Start Social Security Benefits

Whether you should take social security retirement benefits at the earliest possible date or defer benefits until reaching normal retirement age (or even age 70), depends […]
October 14, 2015

Items From Your 2014 Tax Return Can Affect 2015 Planning

As year-end approaches, remember to check your 2014 federal income tax return for items that can affect your 2015 planning. Here are three to look for. […]
October 7, 2015

Avoid Underpayment Penalties

Check the total taxes you’ve already paid in for the year through withholding from your wages and/or quarterly estimated payments. Are you underpaid? Consider adjusting your […]
September 30, 2015

Back to School? Check this Tax Credit

If you or a member of your family is off to college this fall, you may be eligible for the American Opportunity Tax Credit. Eligible students […]
September 23, 2015

A Quick Recordkeeping Guide

Is your file cabinet overflowing? Do you hesitate to purge tax information because you’re not sure what to keep and what to discard? Here’s a quick […]
September 16, 2015

Retirement Plan Reminder

REMINDER:  You have until December 31, 2015, to take your 2015 required minimum distribution from retirement plans.  
September 9, 2015

Accountant Position

Heintzelman Accounting Services, Inc. is seeking a talented accountant to join our growing team.  This position provides the opportunity to work in a full service firm […]
September 9, 2015

Tax Tip: Tax-Free Gifts

If you are in a position to give, making annual gifts can be an excellent strategy for reducing both your estate and income tax liability. Doing […]
September 2, 2015

Accurate Inventory Is Crucial For Your Business

For many companies, inventory is a significant dollar amount on the company’s financial statements. So it’s crucial that recorded inventory balances reflect actual values. When such […]
August 26, 2015

Are Itemized Deductions Worth The Effort?

Knowing the difference between the standard and itemized deduction might save you a lot of time and trouble, and some taxes to boot. The IRS gives […]
August 19, 2015

IRA Change Could Be Tax-Smart

Did you convert all or part of a retirement account to a Roth during 2014? And do you now wish you hadn’t? Here’s some good news: […]
August 12, 2015

Are You Saving For Retirement?

No one can force you to save for retirement, but consider this: Only 5% of the population can retire with financial independence.  
August 5, 2015

UIA Announces Good News Regarding Taxable Wage Base

Beginning with the third quarter 2015 filing, Michigan’s Taxable Wage Base will lower from $9,500 to $9,000.  Because of this lower base, most non-delinquent contributing employers […]
July 29, 2015

IRS Publishes Help for ID Theft

The IRS website contains useful information on how to avoid becoming a victim of identity theft, plus steps to take if you do become a victim. […]
July 22, 2015

Consider Taxes When You Change Jobs

Taxes may be the last thing on your mind when you’re changing jobs, but overlooking their impact could mean missed tax-saving opportunities. Issues to consider include: […]
July 15, 2015

Tax Tips for that First Job

Out of school and into the workforce. If the expression describes you or a family member this summer, filling out Form W-4 properly can make your […]
July 8, 2015

Track Use of Your Vacation Home to Maximize Tax Breaks

If you own a vacation home (some boats and recreational vehicles also qualify) that you also rent out to others, keep track of who uses it […]
July 3, 2015

IRS Launches New “Misclassification Initiative”

How you classify your workers – as “independent contractors” or “employees” – matters a great deal to the IRS. The IRS is aware that employers prefer […]
June 24, 2015

Five Things Every Business Owner Must Do

If you own or manage your own business, you’re probably busy monitoring operations and dealing with everyday problems. But there are a few things that you […]
June 17, 2015

IRS Reminder on Child Tax Credit

Working parents should be aware that the child and dependent care tax credit is available to offset some of the expenses for child care. Six facts […]
June 10, 2015

Don’t Let The IRS Become Your Pen Pal

Getting a letter or notice from the IRS can be upsetting, confusing, and unnecessary. The IRS sends taxpayers notices to request payment for taxes, to notify […]
June 3, 2015

Keep Your College Student A Qualified Dependent

Keep your college student qualified as your dependent by meeting the “support” test. Generally, your child cannot provide over one-half of his or her own support […]
May 27, 2015

New “myRA” Program Now Available

A new simplified Roth IRA is the newest retirement plan. The account is called a myRA (short for “my retirement account”). It’s funded by having your […]
May 20, 2015

Review Now for Effective Tax Planning

With summer vacations and warm weather just around the corner, tax planning may not be a priority on your agenda. The problem is that if you […]
May 13, 2015

US Citizens Abroad – 2014 Tax Return Deadline

U.S. citizens and resident aliens living overseas or serving in the military outside the U.S. have a June 15, 2015, deadline for filing their 2014 income […]
May 6, 2015

What Every Spouse Should Know Before Signing A Joint Tax Return

The advantage of filing a joint tax return is well known – you generally save money compared to filing separately. However, there is at least one […]
April 29, 2015

2015 Business Vehicle Deduction Limits

The IRS has published depreciation limits for business vehicles first placed in service this year. 50% bonus depreciation is no longer allowed for business equipment purchases, […]
April 22, 2015

Can A Business Grow Too Fast?

Most businesses hope to grow. They consider themselves successful if growth is taking place, and the faster the growth the better. Can too much business growth […]
April 15, 2015

Should You Be Making Estimated Tax Payments?

During the tax year you must prepay a substantial amount of the taxes you’ll owe for that year, or you risk being hit with an underpayment […]
April 7, 2015

Did You Make Gifts in 2014?

If you made gifts in 2014, check this tax filing requirement:  Another filing deadline that might apply to you – April 15 is the due date […]
April 7, 2015

Time is Running Out to Claim Refunds

The IRS reminds taxpayers that tax refunds for the year 2011 remain unclaimed by a million taxpayers who failed to file a return for that year. […]