Blog posts from: 2011
Proposed Reforms to Michigan’s Tax Structure
On February 17, 2011 the State issued an explanation of the proposed elimination of the Michigan Business Tax (MBT), replacing it with a streamlined Corporate Income Tax. Click here to read the entire State release. Some of the proposed changes...
SR IN THE NEWS: “Michigan’s economy: Tough times offer some lessons for businesses”
BY KATHERINE YUNG DETROIT FREE PRESS BUSINESS WRITER With Michigan's ailing economy showing signs of a recovery, many businesses in the state are breathing easier. But the Great Recession won't soon be forgotten. Just as consumers are spending less and...
SR Clients in the News: Halo Group Named “Largest Staffing-Service Companies” by Crain’s Detroit Business
We want to congratulate our client, Halo Group LLC, for being named to Crain’s Detroit Business' list of Metro Detroit's largest staffing-service companies for 2010. Halo is a computer IT staffing company. We know that they have been working very...
SR Glossary: Is this person working for me an employee or independent contractor?
We often get asked the question “Is this person working for me an employee or an independent contractor?” The classification can have many affects to the way they get paid and the cost of utilizing their services. For instance, if...
ShindelRock congratulates new CPA Monica Silwanowicz
ShindelRock team member Monica Silwanowicz has become a Certified Public Accountant! Her certification required passing a 4-part test (covering tax, accounting, audit, and business concepts) and completing 150 college credit hours, at least 2,000 hours of public accounting experience and...
SR Clients in the News: Union Woodshop Named “Restaurant of the Year” by Free Press
We want to congratulate our client, the Union Woodshop, for being named Detroit Free Press's 2011 Restaurant of the Year. We know that they have worked very hard to become the wonderful establishment they are today and this award is...
Employers should watch out for negative SUTA reserves
Every employer in the state of Michigan pays into the state unemployment fund (SUTA). If a former employee makes a claim for unemployment, a portion of their unemployment payment would be charged against your SUTA account. Enough unemployment claims against...
Proposed Michigan Business Tax (MBT) Replacement
Last week Michigan Governor Rick Snyder released a draft of a proposed replacement of the Michigan Business Tax (MBT) with the Michigan Corporate Income Tax. The important word in the new tax name is “Corporate”. If passed in its present...
The Electronic Health Records (EHR) incentives and their “Meaningful Use”
The Health Information Technology for Economic and Clinical Health Act (HITECH Act) established incentives for eligible healthcare providers to increase their Medicare and Medicaid reimbursements for “meaningful use” of electronic health record (EHR) systems (Link: http://www.cms.gov/ehrincentiveprograms/) The HITECH Act...
The Great 1099 Roundup begins in 2011 for real estate owners
Recent legislation has added a new burden to the owners of rental real estate. Starting in 2011, if you write checks totaling $600 or more per year to an individual, partnership or corporation, you must issue a tax Forms 1099MISC. ...