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Client Education & Company Blog

November 29, 2012

New Fast and Convenient Methods to Pay Your Invoice!

In our fast-paced, highly technological world, mailing checks to pay our bills is becoming obsolete, even for businesses. Heintzelman Accounting Services is excited to be offering […]
November 29, 2012

2012 TAX PLANNING

Although we now have the election results,  year-end tax planning for 2012 will still be quite tricky since there are so many unanswered questions. We now know […]
October 10, 2012

Are frequent-flier miles taxable?

Frequent-flier miles or other in-kind promotional benefits attributable to a taxpayer’s business or official travel and used for personal are not taxed. However, this relief does […]
October 10, 2012

What is the standard mileage rate?

  1/1/13 01/1/14 1/1/15 01/1/16 1/1/17 1/1/18 1/1/19 1/1/20 Business $0.565 $0.56 $0.575 $0.54 $0.535 $0.545  $0.585 $0.575 Medical/Moving $0.24 $0.235 $0.23 $0.19 $0.17 $0.18 $0.20 […]
October 10, 2012

What business structure should I choose?

One of the first decisions that you will have to make as a business owner is how the company should be structured. Since this decision will […]
October 10, 2012

I want to start a business. Where do I start?

There is a lot of hard work that goes into starting your own business. Establishing the product or service you will be selling, doing the research, […]
October 10, 2012

Employee or contractor?

In the past, the IRS relied on a list of 20 common-law factors to classify workers. Now the IRS looks at just the following three factors […]
October 10, 2012

Is this a hobby or a business?

Is your favorite hobby (hereafter referred to as “activity”) actually a business? The following factors described by the IRS should be considered: Does the time and […]
October 10, 2012

Michigan Unemployment Benefits – Claims against Employers

How much time must an employee work for a Michigan company to qualify for unemployment benefits? Of course, there is no simple answer to that question. […]
October 10, 2012

How Do I Keep My Company’s Sensitive Information Secure?

Most companies need to keep sensitive information for their employees or customers on file such as socials security numbers, credit cards, or other personal indentifying data. […]
October 10, 2012

How Much Does My Employee Really Cost?

Over the last several years, we have seen a considerable increase in new businesses and individuals working for themselves. Many of these small business owners have […]
October 10, 2012

Is Converting From a C Coporation to an S Corporation the Right Choice For My Company?

With the new Corporate Income Tax going into effect January 1, 2012, some Michigan corporations have been contemplating converting to an S Corporation. Although S corporations […]
October 9, 2012

What is the standard mileage rate?

1/1/13 01/1/14 1/1/15 01/1/16 1/1/17 1/1/18 1/1/19 1/1/20 Business $0.565 $0.56 $0.575 $0.54 $0.535 $0.545  $0.585 $0.575 Medical/Moving $0.24 $0.235 $0.23 $0.19 $0.17 $0.18 $0.20 $0.17 […]
October 9, 2012

Why do I have to file a tax return?

Most citizens voluntarily file their tax returns and pay their taxes. However, there are times when law-abiding citizens fail to file, such as in years their […]
October 9, 2012

Is this a hobby or a business?

Is your favorite hobby (hereafter referred to as “activity”) actually a business? The following factors described by the IRS should be considered: Does the time and […]
October 9, 2012

Income Tax Filing Status

One of the first items to consider when filing an individual tax return is your filing status. An individual’s tax liability is determined by the taxpayer’s […]
August 16, 2012

2013 Tax Changes From Health-Care Reform

For tax years beginning after 2012, in addition to the expiration of the 2001 Bush tax cuts, higher income taxpayers will incur additional taxes as a […]
June 13, 2012

529 Plan Can Help with College Funding and Estate-planning Considerations

Contributed by Chad Zagel Now that another school year is drawing to a close, your young children are a step closer to the day when they’ll […]
June 13, 2012

529 Plan Still Qualifies For State Tax Deduction!

With the recently enacted personal income tax changes under Public Act 38 of 2011, certain tax credits and subtractions from income were eliminated. However, currently the […]
May 15, 2012

SMALL BUSINESSES EXEMPT FROM REPORTING HEALTH INSURANCE ON W-2’s!

Further guidance was recently provided clarifying the informational reporting requirements by employers on the costs of employer-provided health insurance. The Patient Protection and Affordable Care Act […]
May 15, 2012

GOOGLE APPS FOR MONEY MANAGEMENT

Google Apps available to manage money, expenses, invoices, & inventory.  
April 12, 2012

2011 IRA Contributions Reminder!

Most taxpayers deducting and/or reporting IRA contributions on their 2011 tax returns have until April 17, 2012 to fund their accounts.  
April 12, 2012

Have all the Energy Credits Expired?

Most homeowners have become familiar with the energy credits for energy efficient improvements made to their primary residence. Examples of some of these improvements included the […]
April 12, 2012

CHANGES FOR THOSE RECEIVING UNEMPLOYMENT BENEFITS

In our January 2012 newsletter, HAS alerted our readers to some of the changes affecting employers with the amendments to the Michigan Employment Security Act. The […]
March 12, 2012

Payroll Tax Cut Extended

On February 22, 2012, the Middle Class Tax Relief and Job Creation Act of 2012 was enacted to extend the 2% Social Security payroll tax reduction to […]
March 12, 2012

FEDERAL TAX PROVISIONS EXPIRING

Below are some examples of the most common provisions that will be expiring December 31, 2012. Individuals 10% tax rate for individuals; reduction of other rates Reduced capital […]
March 12, 2012

TAX REFUND STATUS: Note for Taxpayers

There could be possible delays in federal tax refunds due to additional security filters that the IRS has installed to combat identity theft fraud.  
February 15, 2012

What Filing Status Should I Use?

One of the first items to consider when filing an individual tax return is your filing status. An individual’s tax liability is determined by the taxpayer’s […]
January 12, 2012

Recent Michigan Employment Security Act Amendments

By now most Michigan employers have received a letter from the Unemployment Insurance Agency regarding the bills that were signed into law on December 19, 2011. […]
December 14, 2011

The IRS is using web-based tools and social media to keep taxpayers informed!

IRS2Go – Smartphone app that lets you get your refund status, tax updates, and follow the IRSYouTube – Brief videos on a variety of tax-related subjectsTwitter […]
November 14, 2011

Should I Convert to an S Corporation?

With the new Corporate Income Tax going into effect January 1, 2012, some Michigan corporations have been contemplating converting to an S Corporation. Although S corporations will not […]
November 8, 2011

Reporting Tip Income

Many individuals work in occupations where tipping is part of the total compensation package.  Click here for details outlining the responsibilities for employees who receive tips and employers who […]
November 8, 2011

Michigan Retirees and Tax Laws

Retired Michigan taxpayers receiving pension and retirement benefits may now be subject to income tax. For those affected, withholding will begin with the January 2012 payments […]
November 8, 2011

New Calendar View in QuickBooks 2012

Click to View QuickBooks 2012 Calendar  
October 12, 2011

NOTICE: IRS Phishing Scheme!

Recently there have been several inquiries regarding unsolicited emails claiming to be from the IRS. If when checking your emails you notice an IRS-related message regarding […]
October 12, 2011

How Much Does My Employee Really Cost?

Over the last several years, we have seen a considerable increase in new businesses and individuals working for themselves. Many of these small business owners have […]
October 12, 2011

What Should I do if I Receive an IRS Notice?

For some taxpayers the receipt of an IRS notice can only mean the worst. However, there are millions of notices that are mailed by the IRS […]
October 12, 2011

New IRS Program for Misclassified Workers

Many taxpayers may currently be misclassifying workers performing services for their business as independent contractors. For this reason, a new program has been launched by the […]
October 12, 2011

QUICKBOOKS 2012 – New & Improved Features!

New Features: Batched Time Sheets – allows creation of time sheets for multiple employees or vendors in one batch Document Center – Attach and store documents […]
October 9, 2011

Repeal of the 2010 1099 Reporting Requirements

The long-awaited repeal of the expanded 1099 requirements was signed by President Obama on April 14, 2011! In 2010, Congress passed the Patient Protection & Affordable […]
October 9, 2011

Tax Relief Act of 2010

After much dissention and debate, Congress finally agreed to approve a temporary Bush Tax cut extension (through 2012 unless otherwise stated) for ‘everyone’ and extend unemployment […]
October 5, 2011

American Recovery and Reinvestment Act of 2009 Highlights

In 2008 Congress created a temporary credit to recover the costs of capital expenditures by allowing a write off of 50% of the cost of qualifying […]
October 4, 2011

Economic Stimulus Act of 2008

February 13, 2008 Special Depreciation Allowance for Certain Property. A 50-percent additional first year depreciation deduction may be allowed for certain new property acquired by the […]
October 3, 2011

Small Business Job Act of 2010

On September 27, 2010 President Obama signed into law the Small Business Job Act of 2010. Over 90% of the new jobs created each year in […]
October 2, 2011

UIA Tax Credit

Michigan Employers May Realize a UIA Tax Credit The State of Michigan Unemployment Insurance Agency (UIA-formerly MESC) will issue a state tax credit to employers who […]
October 1, 2011

NOTICE CONCERNING FEDERALLY DISREGARDED ENTITIES AND THE MICHIGAN BUSINESS TAX

According to the Michigan Treasury notice dated November 29, 2010, the department concluded that disregarded entities fit within the statutory definition of a “person” (MCL 208.1117). […]
October 1, 2011

City of Grand Rapids Income Tax Increase

By a 204-vote margin, on May 4, 2010, the City of Grand Rapids voters approved a 15.4% income tax increase. The Grand Rapids income tax will […]
July 19, 2011

Decrease in Federal Unemployment Tax???

Employers may have noticed that the instructions in your Employers Tax Guide (Publication 15) for computing FUTA tax reflect a .2% decrease after June 30, 2011. […]
July 19, 2011

FREE SOFTWARE for Field Service Businesses

For service businesses that have workers or vehicles on the road, AceRoute could be the solution that simplifies the management of your service operations. AceRoute is […]
July 6, 2011

Governor Snyder Signed Tax Reform Bills

Governor Snyder signed several tax bills on May 25, 2011 in an effort to create a fair and simple Michigan tax structure. In addition, it is hoped that Michigan will be aligned […]