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Client Education & Company Blog

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. […]
April 1, 2015

Can’t file by April 15?

Get an extension. If you can’t file your 2014 tax return by the April 15 deadline, file for an extension to get until October 15, 2015, […]
March 25, 2015

IRS Impersonation Scams

The FTC’s Bureau of Consumer Protection is advising consumers about a tax scam that has resulted in an “explosion of complaints about callers who claim to […]
March 18, 2015

Change in Tax Treatment of Health Insurance Reimbursements

In the past, you may have chosen to reimburse your employees for health insurance premiums instead of establishing a group health insurance plan. Those payments were […]
March 11, 2015

Consider a Buy-Sell Agreement for your Business

If your business is owned by two or more persons, a buy-sell agreement is one of the most important legal documents your business can have. This […]
March 4, 2015

April 1 Retirement Distribution Deadline

You may be approaching an important deadline if you have retirement accounts and you turned 70½ last year. Generally, you must begin withdrawing money from tax-favored […]
February 25, 2015

Electronic Refunds Limited

The IRS announced that, as part of its efforts to curb fraud and identity theft, it will no longer directly deposit more than three electronic refunds […]
February 18, 2015

Phone Scams During Tax Season

Warning: Watch out for aggressive phone scams again this tax season The Treasury Inspector General for Taxpayer Administration (TIGTA) is warning taxpayers about one particular category […]
February 11, 2015

Elect S Corporation Status by March 16

If you own a small business, you have until March 16, 2015, to choose S corporation status for this year. In order to become an S […]
February 5, 2015

Qualifications for Health Insurance Exemption

If you didn’t have health insurance in 2014 or the insurance you had did not meet minimum requirements, you may have to pay a penalty on […]
January 28, 2015

Every New Business Needs A Record System

Many small start-up businesses are off and running before any record system has been set up. There is money deposited into the new business checking account, […]
January 21, 2015

Not all “Income” is Taxable

There are several sources of revenue that are not subject to income tax. Here are the most common sources of money that are not taxed on […]
January 15, 2015

Check Your Tax Withholding

Remember to review your tax withholding for 2015! Withholding too much tax from your wages isn’t a smart financial move. Review how much you’re having withheld […]
January 7, 2015

2015 Deadline for 1099s

February 2 is the deadline for 1099 reporting. Form 1099s must be filed by businesses each year. This year the deadline for filing falls on February […]
January 2, 2015

IRS Issues “Household Tax” Reminder

The IRS reminds taxpayers not to overlook their responsibilities under the “household tax.” If you employed a housekeeper, nanny, gardener, or other household worker in 2014, […]
December 22, 2014

You May Have a Deduction for Moving Expenses

If you moved in 2014 because of a new job location, you may be entitled to a tax deduction for your moving expenses. To qualify for […]
December 12, 2014

Age Matters in the World of Taxes

Are you aware of the numerous age-related provisions in the IRS code? They are probably more plentiful and significant than you thought. Here are a few […]
December 5, 2014

Does your business make use of your financial statements?

Many small business owners pay too little attention to their financial statements. This is due in part to not understanding just what the statements have to […]
November 19, 2014
RMD Options

Required Minimum Distributions Options

– contributed by Chad Zagel, AAMS®, Financial Advisor, Edward Jones When it comes to required minimum distributions (RMDs), you have options other than just spending the money. If […]
November 19, 2014
Uniform Lifetime Table

Required Minimum Distributions Rules

– contributed by Chad Zagel, AAMS®, Financial Advisor, Edward Jones A required minimum distribution (RMD) is the amount that traditional, SEP and SIMPLE IRA owners and qualified plan […]
November 14, 2014

Don’t forget to take your RMD

Did you celebrate your 70½th birthday in 2014? Do you have a traditional or rollover IRA? If both answers are yes, the deadline for taking the […]
November 7, 2014

Tax Tip for November 2014

Consider a health savings account (HSA). Investing in an HSA gives you a current-year tax deduction while providing a savings account to use to pay out-of-pocket […]
October 31, 2014

Pay Attention to the IRS Rules for Charitable Donations

As the year draws to a close, you may decide to donate cash or property to one or more worthy causes. Besides the satisfaction of helping […]
October 17, 2014

Important Reminder for Employers

Effective January 1 of this year, you may no longer reimburse employees for their individual health insurance policies or pay the premiums directly to the insurance […]
October 2, 2014

October 15 Is The Final Tax Deadline

If you requested a six-month extension to file your 2013 income tax return, you face a major deadline on October 15. That’s the final date for […]
September 24, 2014
QBC1114Fig1

Depositing Payments in QuickBooks: The Basics

Creating bank deposits manually can be a huge chore. QuickBooks simplifies this task. Satisfying though it may be to enter all of those customer payments manually […]