Blog posts from: 2012
Special Guest Author Kris Langer: Commercial Insurance Is Important for Covering Your Assets
It’s a Saturday morning and you are enjoying your vacation far away from the worries of your business in a tropical paradise. You have trusted your staff to hold down “the fort” while enjoying some down time to relax your...
Happy Thanksgiving to our SR clients and friends!
We all have so many reasons to be thankful! But if you're struggling to count your blessings this year, you can always be thankful that you are not one of the people that has money on deposit with the IRS. ...
Watch out for reduced Section 179 Depreciation in 2013
Internal Revenue Code (IRC) Section 179 has provided businesses with the ability to substantially accelerate depreciation on qualified purchases for the last decade. The limitation on the available deduction grew to $500,000 during 2010 and 2011 as Congress intended for...
Help ShindelRock fight hunger with Forgotten Harvest!
ShindelRock has partnered with Forgotten Harvest to hold a food drive and we would like to invite you to join us. A storage barrel will be available in our Novi reception area from November 20 to the 30. Below is...
SR Client Question: How much can I deduct for a leased car on my tax return
When a taxpayer leases a vehicle and uses it in a trade or business, the taxpayer may deduct the lease expense based on the proportion that it is used for business. For example, if a business owner uses a leased...
Taxpayers May Contribute up to $17,500 to their 401(k) plans in 2013
The Internal Revenue Service recently announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for Tax Year 2013. In general, many of the pension plan limitations will change for 2013 because the increase in...
Social Security Wage Base for 2013
The Federal Insurance Contributions Act (FICA) tax is comprised of the Social Security Tax and the Medicare tax, employees and employers are each responsible for paying the FICA tax while the self-employed pay the entire tax themselves. In 2013, the...
SR Client Question: Can I deduct employees’ Business Travel and Entertainment Expenses?
Although the computer age and modern telecommunications have reduced the need for in-person contact, it is still sometimes necessary for businesses to send employees out of town on business, or to entertain clients and customers. How travel and entertainment expenses...
Self-Employed can now deduct Medicare premiums
The IRS has reversed its long standing position on self-employed individuals being able to deduct Medicare Premiums from self-employment income. Prior to 2010 you could not deduct these premiums as health insurance in arriving at self-employment income. IRS chief counsel...
Meet the SR team: Amy Bassi, Tax Accountant, Enrolled Agent & Certified Specialist in Estate Planning
You're a Tax Accountant at ShindelRock--tell us about what you do for clients. I am an Enrolled Agent with a certification in estate planning. I work with our clients to prepare and review tax returns for individuals and their related...