Delay RMDs by rolling IRAs and prior 401(k) balances into current employer’s plan

Rolling over of IRAs (and prior employer's 401(k) retirement plans) into a current employer’s 401k plan may be a way for those who are subject to required minimum distributions (RMDs) and who are still working to delay having to take...

ShindelRock’s secure technology provider SafeSend Returns honored with Innovation Award

SafeSend Returns has been recognized as the winner of the 2020 Tax & Accounting Technology Innovation Award presented by CPA Practice Advisor. This year marks the third win in five years for SafeSend Returns, as the company continues to set the bar...

New grant helps Michigan businesses operate safely

With employers across the state working to keep their employees, customers and communities safe during the COVID-19 pandemic, the State of Michigan has launched Michigan COVID-19 Safety Grant Program. These grants will provide small businesses matching funds – up to $10,000...

Michigan relief programs for businesses and individuals affected by COVID-19 are now open

Michigan business owners and residents suffering from the economic effects of the coronavirus pandemic can expect to see more targeted relief programs, as CARES Act funds filter into the state for local administration and development organizations create geographically-specific grants.  ...

SR Client Question: Can adding my child to our Michigan home’s title prevent the property tax value from uncapping when I pass?

If you add your child as a co-owner of real property, he or she won’t get a full step up in basis when it is sold after your passing. Also, there is a risk of re-assessment for real estate taxes...

SR Client Question: Can you collect unemployment pay if you received severance pay?

An individual cannot collect full unemployment benefits if there is severance pay that is allocated, by the employer, to the weeks of unemployment benefits. If there is no specific allocation of the specific weeks of severance pay by the employer,...

Protective claim for 2016 Medicare surtax and NIIT must be filed by July 15 (or later in 2020 if you extended and timely filed your 2016 return)

  • July 10, 2020
  • Maria Montie, CPA, MST, CVA, MAFF

Recently, the U.S. Supreme Court agreed to hear appeals concerning the constitutionality of the Affordable Care Act (ACA).  If the Court eventually determines the ACA is unconstitutional it could affect the legality of the taxes the ACA imposes—in particular the...

PPP Application deadline extended to August 8

Business owners have another five weeks to apply for federal pandemic relief funds through the Paycheck Protection Program after President Trump approved a five-week extension.  The extension to the Payroll Protection Program (PPP), which was launched in April to keep Americans...

Michigan businesses can use MI Workshare program to bring back employees flexibly

With businesses starting to open up, Michigan is strongly encouraging businesses to consider using the MI Workshare program to start bringing employees back on a part-time basis as things ramp up.  It can be a win-win for the employer and...

IRS announces rollover relief for retirement account RMDs that were waived under the CARES Act

The Internal Revenue Service is allowing anyone who already took a required minimum distribution (RMD) in 2020 from certain retirement accounts now has the opportunity to roll those funds back into a retirement account following the CARES Act RMD waiver...