Blog posts from: 2017

How to plan for Medicare surcharges

According to The Wall Street Journal, high-income Americans covered by Medicare should make tax changes now to minimize an increase in premium surcharges. These surcharges apply because Congress decided the top 5% or so of Medicare recipients should contribute more...

Recent tax case related to income from surgical center

In Stephen P. Hardy and Angela M. Hardy v. Commissioner, the U.S. Tax Court found that Dr. Stephen P. Hardy, a plastic surgeon who owned a minority interest in a surgical center, was allowed to treat his income from the surgical...

2017 Federal Tax Key Facts & Figures

In partnership with PayChex, we're pleased to offer 2017 Federal Tax Key Facts and Figures our clients' reference.

Employers must now use new version of Form I-9

Employers must now use the new version of Form I-9, Employment Eligibility Verification. U.S. Citizenship and Immigration Services (USCIS) issued the new version on Nov. 14, 2016. Employers had until Jan. 22, 2017, to begin using the new version of Form I-9....

President Trump signs executive order to limit regulations

  • February 9, 2017
  • Maria Montie, CPA, MST, CVA, MAFF

On January 30, President Trump signed an executive order to dramatically reduce federal regulations and control regulatory costs. The executive order requires federal agencies to eliminate two rules for every new one introduced. Additionally, the executive order requires agencies to conduct a cost...

Scam Alert: QuickBooks scam targets small businesses

A new phishing scam is targeting small businesses with a message that looks like an email alert from QuickBooks. How the Scam Works: You receive an email with the subject line “QuickBooks Support: Change Request.” The message is “confirming” that you...

Executive Order issued on Affordable Care Act

On January 20, President Trump issued an Executive Order that sets the broad policy of his administration to repeal the Affordable Care Act (ACA). The EO directs federal agencies with authority and responsibility under the Act to waive, defer, grant exemptions...

FBAR due date automatically extended to October 15 each year

  • January 31, 2017
  • Maria Montie, CPA, MST, CVA, MAFF

The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 changed the due date for filing FinCEN Form 114 (Report of Foreign Bank and Financial Accounts) to April 15 of the following calendar year, with a six-month extension...

Understanding related party debt

Many times, a debt between related parties may be reduced or forgiven. This begs the questions: Are there tax consequences as a result of this? Does the lender have a tax loss to report? Does the borrower have a gain on...

Are your internal controls sufficient?

According to a recent article in the Detroit News, a 52-year-old woman reportedly embezzled more than $1,000,000 over a six-year period from the Bloomfield Township staffing firm she worked for. At ShindelRock, we offer an internal controls analysis service, where we look at your business' internal controls...