Quarterly Tax Payment Tips for Self-Employed Professionals in Michigan
If you are self-employed in Michigan, quarterly estimated tax payments are an essential part of staying compliant with both the IRS and the Michigan Department of Treasury. Unlike employees whose taxes are automatically withheld, self-employed individuals must estimate and remit...
Tax Deadlines Approaching? Here’s Why Filing an Extension Might Make Sense
As the April 15 tax filing deadline approaches, some individuals and businesses may benefit from pressing pause. Filing an extension can buy you extra time to organize documents, explore deductions, or resolve complex tax issues without rushing the process. But...
March 21 Update: CTA Final Rule Narrows Scope
The Financial Crimes Enforcement Network (FinCEN) has finalized new rules under the Corporate Transparency Act (CTA), significantly shifting compliance expectations for U.S. businesses. Effective March 21, 2025, the updated rule clarifies that U.S.-based companies and their beneficial owners are no...
Retirement of Steve Rock, Co-Founder of ShindelRock
Announcing the Retirement of Steve Rock, Co-Founder of ShindelRock After more than three decades of dedicated service to the firm and its clients, we are proud to announce the retirement of Steve Rock, co-founder of ShindelRock. Since helping to establish...
CTA Update: Reporting Requirements Paused for U.S. Businesses
The Corporate Transparency Act (CTA) requires businesses to disclose beneficial ownership information (BOI) to the Financial Crimes Enforcement Network (FinCEN). However, recent legal challenges have led to a major shift in enforcement. On March 2, 2025, the Treasury Department confirmed it...
BOI Reporting Requirements Extended Again
The Financial Crimes Enforcement Network (FinCEN) has officially extended the March 21, 2024 deadline for beneficial ownership information (BOI) reporting—but don’t relax just yet. A new deadline will be announced by March 21. This update follows a Texas court decision...
Tax Implications of Repaying a Bonus
Tax Implications of Repaying a Signing or Performance Bonus Receiving a signing or performance bonus can be an exciting benefit of your job, but what happens if your employment ends prematurely, and you are required to repay that bonus? The...
Court Sides with IRS: Businesses Must Document Expense Deductions
Tax Court Sides with IRS: Why Businesses Must Document Expense Deductions A recent ruling from the Tax Court highlights the critical need for businesses to maintain proper documentation when claiming expense deductions. The case involved a self-employed individual who failed...
Attention Small Businesses and Freelancers: 1099-K Filing Changes Are Here
Changes to 1099-K Filing: What You Need to Know In recent years, the IRS has implemented stricter reporting requirements to help reduce underreported income. For 2024, the threshold for receiving a 1099-K has been updated to $5,000 in payments for...
CTA Update: Nationwide Injunction Puts Filing Deadline on Hold
If you’ve been following the Corporate Transparency Act (CTA) developments and its Beneficial Ownership Information (BOI) filing requirements, you know the deadlines have shifted multiple times over the past few weeks. As of now, a nationwide injunction has halted enforcement...