SR Client Portal now requires multi-factor authentication (MFA) for added security

ShindelRock clients who log in to the SR Client Portal will now see additional layers of security protecting their accounts, with the launch of multi-factor authentication (MFA) and reCAPTCHA. MFA and reCAPTCHA add a layer of protection to the sign-in...

401(k) Contribution Limit increased to $20,500 in 2022

Starting in 2022, the maximum contribution that individual U.S. taxpayers can contribute to their 401(k) plans will increase to $20,500, up from $19,500 for 2021 and 2020. The limit on annual contributions to an IRA remains unchanged at $6,000. The...

IRS advises business owners to follow these steps when closing a business

There are many reasons a business owner may choose to close their doors, and there are many things that must be done to officially "go out of business". Two important steps all business owners must take are fulfilling their federal...

What to do first when your identity is stolen

The Federal Trade Commission has a new resource to help people whose identity is stolen, to report the theft and begin the restoration process at IdentityTheft.gov.  In addition to engaging in the FTC process, we recommend the following basic first steps:...

ShindelRock acquires accounting firm Kushner, Kippelman & Taub

ShindelRock is pleased to announce the acquisition of Farmington Hills-based accounting firm Kushner, Kippelman & Taub.  The addition of the KK&T team of accounting professionals gives ShindelRock more resources to service clients' assurance and business tax strategy and preparation needs. Please help us welcome...

Social Security beneficiaries to receive 5.9% increase for 2022

On October 13, 2021, the Social Security Administration (SSA) announced that in 2022, benefits will increase by 5.9%. In addition, the Social Security wage base will increase from $142,800 to $147,000.  This change reflects the largest cost of living adjustment...

SR Client Question: What happens if a PPP loan is defaulted upon?

A Paycheck Protection Program (PPP) loan default is treated just like any other SBA loan guaranteed by the government to a lender (under the 7A program, the government secures 85% of a loan to the bank; for PPP loans, the...

Fourth round of healthcare Provider Relief Funds (PRF) available starting Sept. 29

A fourth round of Provider Relief Funding (Phase 4 General Distribution) will be available on the HHS portal beginning September 29 for healthcare providers who can demonstrate lost revenues and expenditures between 7/1/20 – 3/31/21. PRF Phase 4 will reimburse smaller...

Sixty day grace period announced for Provider Relief Funds’ Period 1 reporting deadline

The September 30, 2021 Reporting Period 1 deadline for Provider Relief Fund (PRF) recipients has not changed; however, in response to challenges providers are facing given the COVID-19 surges and natural disasters around the country, a 60-day grace period is...

QuickBooks will no longer sell a Desktop product after December 10

Small business owners who prefer QuickBooks for Desktop to the company's online, cloud-based offering should upgrade to Quickbooks Desktop Pro 2021 before December 10, as QuickBooks will be changing to a subscription model-only with the release of the 2022 version....