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taxes are hard 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…




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…




CPA Firm Tax Tip

24 Apr, by Jschultz in Tax

    CPA Firm Tax Tip Recently I ran into a mess when our CPA firm was called to assist with a trust issue. It was in regards to a decedents grantor trust. The beneficiaries of the trust were mostly minor children and according to…




#taxesarehard

23 Apr, by Jschultz in Tax

  There are a lot of good things happening at our Firm and one of them is my commitment to figuring out what a hash tag is by year end.  That being said, we have purchased the domain www.taxesarehard.com and are now using the hash…




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…