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taxes Tag

 

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…




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…




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…




US Savings Bonds

16 Feb, by Jschultz in Tax, Tax-Preparation

Schultz & Associates, CPA is a metro Detroit accounting, auditing and income tax preparation and advisory firm. If your in of income tax Royal Oak may not have the right local firm you are looking for. US. Savings Bonds can be a good way 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…




MyRA

31 Jan, by Jschultz in Tax, Tax-Preparation

President Obama signed an executive order of January 29, 2014 creating the MyRA. It appears that its intention is to provide a low risk saving opportunity for those who do not participate in company run retirement plan.  The annual limits on the contribution will be…




Tax Prep in Vicinity of Dearborn CPA

30 Jan, by Jschultz in Tax, Tax-Preparation

Schultz & Associates is not a Dearborn CPA firm though we do have strong ties to the community.   Individual Filer Rates: $0 to $8,925 = 10% rate $8,926 to $36,250 = 15% $36,251 to $87,850 = 25% $87,851 to $183,250 = 28% $183,251 to…