Blog posts from: 2012
Top 10 Overlooked Tax Deductions
In this Kiplinger’s Personal Finance article, the IRS indicated that millions of taxpayers overpay their taxes every year by overlooking just one of the money-savers tax deductions listed below: State Sales Tax Reinvested Dividends Charitable Deductions Student Loan Interest Paid...
DOCTORS, DOLLARS, & SENSE: A Panel Discussion About the Potential Legal and Financial Implications of Practicing Medicine
Residents and young medical practictioners are invited to join ShindelRock, The Centennial Group, and Joseph, Kroll & Yagalla, P.C. for a panel discussion about potential legal and financial implications of practicing medicine Wednesday, Feb. 15 at Zazio's in Birmingham. Attendees...
Tax Tips for the Self-Employed
There are many types of benefits that come from being your own boss. When working for yourself, as an independent contractor, or carrying on a trade or business as a sole proprietor, you are generally considered to be self-employed. Here...
Special Guest Author Barry Demp: Stress Management Techniques For The Workplace
Owners and managers can encounter very stressful events in the workplace. In order to help reduce these “workplace stressors”, try one or more of the following stress management techniques: Conduct “standing meetings.” When someone enters your office, consider conducting your...
Five tax time tips!
The income tax filing season has begun and important tax documents should be arriving in your mailbox. Even though your return is not due until April 17 this year, you can make tax time easier on yourself by getting an...
Update: Michigan Unclaimed Property Enforcement Warrants a Second Look
The State of Michigan is reinforcing their unclaimed property filing requirements. You can review the Michigan Unclaimed Property manual here. They recently sent out unclaimed property notices to all businesses that did not submit an unclaimed property report by July...
Reporting of Offshore Accounts (Part 2)
In Reporting of Offshore Accounts (Part 1), we discussed the requirements of disclosing and reporting foreign accounts on Schedule B of Form 1040 and the FBAR form. For the year 2011 the IRS has issued a new Form 8938 Statement...
Unreported Offshore Accounts (Part 1)
The IRS has had an initiative to voluntarily disclose offshore accounts. There is an annual filing of Form TD F 90-22.1 Report of Foreign Bank and Financial Accounts (FBAR) which is due each June 30. The voluntary reporting period is...
529 Plan Basics
“I don’t remember growing older. When did they?” As the words from Fiddler on the Roof imply, before you know it the children are grown and they are planning to head off to college. Are you ready for the financial...
Make S-Corp Election to Eliminate Michigan Corporate Income Tax
As we have discussed in previous posts, the Michigan Business Tax (MBT) has been replaced by the CIT (Corporation Income Tax). Under the CIT, the following types of taxpayers are not subject to the tax: Individuals Trusts & Estates Partnerships...