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Accounting

 

Dentist Tax Accounting

01 May, by Jschultz in Accounting, Tax

  Dentist Tax Accounting Schultz & Associates, CPA provides specialty dentist tax accounting services for practices in the metro Detroit area. Navigating the tax implications of P.C’s or PLC’s can be complicated. The Firm’s managing partner has been working with them for twenty years and…




Tax Season Recap

22 Apr, by Jschultz in Accounting, Tax, Tax-Preparation

  The 2014 filing season is over as I write on Earth Day 2014 this tax season recap.  I have some optimism from the season which saw small business owners seeing increased revenue, employee’s receiving cash and stock bonuses and clients starts to put more…




Statutory Employee

25 Feb, by Jschultz in Accounting, Business, Tax, Tax-Preparation

Statutory Employees are essentially independent contractors. It is mostly at the convince of the contractor that an vendor decides to treat them as a statutory employee. They are not common law employees. The are not eligible for benefits. This classification is available to certain drivers…




Personal Property Tax

23 Feb, by Jschultz in Accounting, Business, Tax, Tax-Preparation

Personal Property Tax is in for a major change in Michigan starting in 2014.  Most businesses with small amounts of personal property will no longer be subject to the Michigan personal property tax.  In order to qualify you must submit an affidavit Form 5076 to…




Retirement Plans

12 Feb, by Jschultz in Accounting, Tax, Tax-Preparation

    Many employers like the idea of retirement plans for employees. When business owners look for complex tax planning opportunities, depending on the size of the company and the goals of the owners, they will some time consider deferred compensation plans.  These are considered…




Homeowner Association – Condo Tax Part 4

20 Jan, by Jschultz in Accounting, Condo, Tax

Your Homeowner Association could be at risk if it is filing form 1120 instead of Form 1120H.  There are many requirements that a condominium association needs to follow if it is going to survive a IRS audit.  The following video is a great recap of…




Form 1120H vs 1120 – Part Three

20 Jan, by Jschultz in Accounting, Condo, Tax

Form 1120H is the form of choice for 98% of our condominium association clients.  Our firm prepares over 100 Form 1120H tax returns annually. We find that most HOA or condo associations do not fully comply with the requirement necessary in order to file Form…




Condominium Tax Issues – Part Two

20 Jan, by Jschultz in Accounting, Condo, Tax

We are often asked by those on the board of directors why does our association not file Form 1120 for its condominium tax return. My response is that we file Form 1120H for almost 98% of our association clients. Then I direct them to this…




Livonia CPA

03 Jan, by Jschultz in Accounting, Tax

  Schultz & Associates, CPA understand that there are not many choices if you are looking for a Livonia CPA. Many of the firms you will find are small practices that are not available year round. We also do not prepare over 2,000 individual income…




Enrolled Agent

02 Jan, by Jschultz in Accounting, Tax

  If an Enrolled Agent (EA) is what you are looking for in a tax preparer Schultz & Associates, CPA, can help.  Not only has our staff enrolled agent passed the necessary tested overseen by the IRS, he also has an accounting degree.  While and…