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Client Education & Company Blog

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 […]
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.