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Tax Preparation Tag

 

Health Coverage Tax Credit

24 Sep, by Jschultz in Accounting, Tax, Tax-Preparation

What is the Premium Tax Credit As part of the provisions of the Affordable Care Act some taxpayers will become eligible for the Premium Tax Credit when filing their 2014 individual income tax return. This is a refundable tax credit that is intended to offset…




Controlled Group Businesses

23 Sep, by Jschultz in Accounting, Business, Tax, Tax-Preparation, Uncategorized

 Your Controlled Group As companies grow often they choose to set up additional entities, purchase other companies or combine their operations with other businesses. These types of combinations can complicate issues with the IRS, the Department of Labor, The Fair Standards Labor Act, ERISA, and…




Repost – Michigan Taxes

18 Sep, by Jschultz in Accounting, Tax, Tax-Preparation

On the August 2014 Michigan ballot, voters will be asked to repeal the personal property tax. Rather than attempt to persuade you one way or another on the issue, I will provide you with some perspective. With the “Great Recession” coming to an end we…




Personal Property Tax Michigan

10 Jul, by Jschultz in Business, Tax, Tax-Preparation

  Personal Property Taxes on Michigan Businesses  On the August 2014 Michigan ballot, voters will be asked to repeal the personal property tax. Rather than attempt to persuade you one way or another on the issue, I will provide you with some perspective. Current Michigan…




Small Business Owner Problems

09 Jul, by Jschultz in Accounting, Business, Tax, Tax-Preparation

The Story A small business owner can in for a consultation. They felt they were unprofitable and were considering closing their doors.  The husband and wife owned the company jointly and relied on it for their sole source of income.  The company employed ten full…




IRS

09 Jul, by Jschultz in Tax, Tax-Preparation

  Read a good article today on a tax blog by Chad Bordeaux, CPA out of Charlotte. Rather than go through the detail I thought I would share the article here. http://www.charlottecpafirm.com/inside-job/     Thank you for reading our #taxesarehard blog. Tax advice contained in…




Child Employed by Parents

25 Jun, by Jschultz in Tax, Tax-Preparation

   Child Employed by Parents If you are the owner of a small business that is taxed as a sole proprietor, or a partnership owned wholly by husband and wife, then your child may be exempt from paying FICA tax and FUTA for federal tax…