Blog posts from: 2016
Pay back taxes and avoid tax liens with the IRS Fresh Start program
Since its inception, the IRS Fresh Start program has made it easier for taxpayers to pay back taxes and avoid tax liens. Even small business taxpayers may benefit from Fresh Start. As a reminder to our clients, here are three...
IRS adjusts HSA deduction limits for 2017
The IRS has issued inflation-adjusted deduction limits for health savings accounts next year. For calendar year 2017, the annual limitation on deductions for an individual with self-only coverage under a high-deductible health plan is $3,400. The annual limitation on deductions...
What to do if your 2015 tax return information needs to be revised
Tax day has come and gone. You’ve filed your tax return, and you can relax knowing you won’t have the daunting task of organizing your tax information for another year! Just when you’re ready to file everything away and go...
Thank you to our generous clients!
Our matching donation campaign to Michigan Hands & Voices is still going (extension filers, you still have time to send in your donation!) but we've raised $1,790 so far, which ShindelRock will match for a $3,580 donation to this worthy local...
Guest Author Lisa Zimmer: The final fiduciary rule has arrived . . . finally
The Department of Labor (DOL) on April 6, 2016, issued the highly anticipated final fiduciary rule. While the essence of the final rule remains the same as the rule proposed last year, it has been tweaked to address, or eliminate,...
Commercial loan underwriting: The criteria for lending
Businesses must have access to capital for many reasons, including common requirements such as: Start-up of a business Growth and expansion Major asset acquisitions On-going working capital I have had the privilege of working with the U.S. Small Business Administration...
Employee benefit plan audits: Making the right choice
If you are an employee benefit plan administrator who is working on your 401(K) Plan’s 2015 financial statements that will be submitted to the Department of Labor (DOL) as part of the Plan’s Form 5500 filing, you may have received...
Gambling documentation changes could reduce state taxable income
In the past, casinos would issue W-2Gs showing the total winnings for all jackpots won and then the taxpayer would deduct any losses as an itemized deduction. This meant that taxpayers could offset most of the winnings with losses for...
SR Glossary: Non-resident alien taxes
What is a non-resident alien? An alien is any individual who is not a U.S. citizen or U.S. national. A nonresident alien is any individual who is not a U.S. citizen or U.S. national and who has not passed the green card test or...
Reporting embezzlement to the IRS
If you’re an employer who has been the victim of embezzlement, you’re not alone. According to a survey conducted by the Association of Certified Fraud Examiners (ACFE), U.S. organizations lose approximately 7 percent of their annual revenues to fraud. Embezzlement,...