Welcome Elena Prendes!
ShindelRock is pleased to welcome Elena Prendes to our team as our Practice Administrator! Elena oversees the firm's day-to-day operation and leads project management efforts for firm-wide changes focusing on client service and profitability. She also manages all Human Resources...
Lower Form 1099-K threshold delayed again
The IRS again delayed the effective date of the $600 threshold for Form 1099-K reporting for third-party settlement organizations and will treat 2023 as another transition year, the Service said Tuesday in Notice 2023-74. When the IRS starts implementing the...
Children’s Hospital of Michigan project honors ShindelRock client John G. Levy
We recently lost a longtime ShindelRock client and friend, John G. Levy. In addition to being a successful business owner, John served on the Board of The Children’s Hospital of Michigan for nearly four decades. He dedicated countless hours to...
IRS Raises Estate Tax Exemption Amount for 2024
For 2024, the federal estate tax exemption amount will increase to $13.61 million, up from $12.92 million in 2023. This means that estates valued below this threshold won't owe federal estate taxes, potentially saving heirs from a substantial tax bill....
Potential Private Retirement Benefit Information notices sent by SSA
The Social Security Administration (SSA) recently sent notices to social security filers regarding Potential Private Retirement Benefit Information. This notice informs recipients about potential retirement benefits earned from private employer plans, known as "deferred vested benefits". The IRS provided this...
Using the “Cohan Rule” to take record-less deductions
Most taxpayers understand the importance of maintaining thorough records to substantiate tax deductions and credits. These records are not only essential for tax purposes but also play a critical role in various scenarios such as insurance claims, wage disputes, and...
Congratulations to our staff!
Forging clear career paths for our staff and providing opportunities to grow, learn, and discover new strengths is at the foundation of what it means to work at ShindelRock. We're thrilled to announce EIGHT of our teammates have been promoted...
Understanding and minimizing the chance of employee fraud
Have you ever considered the possibility of one of your employees engaging in fraud? Trusted individuals can betray that trust when three conditions converge, commonly known as the “Fraud Triangle”: Pressure: There exists a hidden need for money, often driven...
ERC withdrawal process initiatied for those who may have been scammed
Internal Revenue Service is allowing small businesses who believe they may have entered the ERC process fraudulently or under incorrect guidance to withdraw without penalty. This new withdrawal option allows certain employers who filed an ERRC claim but have not...
Social Security wage base, COLA set for 2024
Seniors got some welcome news this week, when the Social Security Administration (SSA) announced a cost-of-living adjustment (COLA) of 3.2% for both Social Security and Supplemental Security Income (SSI) benefits beginning in January 2024. COLA, which is based on the consumer...