Embezzlement can happen to every company
Here's an article in the Detroit Free Press regarding an embezzlement case in northern Michigan. This shows what a breakdown in control and blind trust in an employee can lead to disasterous concequences. It is also important to note that...
Private Company Financial Reporting – Will we finally see a change?
Since 1972, the need for a different set of standards for private companies has been an ongoing topic for debate. Hopefully, with the issuance of the Blue-ribbon Panel on Standard Setting for Private Companies Report (“BRP Report”) to the Financial...
Seven Tax Tips for Recently Married Taxpayers
With the summer wedding season in full swing, the Internal Revenue Service advises the soon-to-be married and the just-married to review their changing tax status. If you recently got married or are planning a wedding, the last thing on your...
Don’t miss your new business startup deductions
The IRS has issued final regulation on the election to deduct startup expenses. These rules apply to individuals, corporations and partnerships. These entities can deduct (in the tax year an active trade or business begins) up to $5,000 of startup...
Congratulations Dana and Team “Who’s the Boss”!
ShindelRock team member Dana Cinquipalmi and her team "Who's the Boss" placed third in the 2011 U20 North Americans. Congratulations Dana and keep on sailing!
Back-to-School Tips from the IRS for Students and Parents Paying College Expenses
It's back to school time! The Internal Revenue Service reminds students or parents paying tuition and other fees to keep receipts and to be aware of some tax benefits that can help offset college costs. Typically, these benefits apply to...
Special Guest Author Randall A. Denha, Esq.: Each Estate Plan Is Different
Randall A. Denha, J.D., LL.M. is the founding member of Denha & Associates, PLLC. Mr. Denha, a former partner at one of the most prestigious estate planning firms in the country, specializes in the areas of estate and personal tax...
SR Glossary: “Documentation”
One of the first terms you might encounter if you or your company is audited by the IRS is a request for documentation of expenses, or proof of receipts. In years past, this was a simple request, as receipts were...
Reporting Unclaimed Property
The state of Michigan is clamping down on your obligation to report unclaimed property. Here is a flyer sent to all businesses detailing the State’s stance on this issue. Unclaimed property are assets (money mostly) that belong to someone else...
SR Client Question: Can I deduct expenses related to my “Home Office”?
Whether you are self-employed or an employee, if you use a portion of your home for business, you may be able to take a home office deduction. Generally, in order to claim a business deduction for your home, you must...