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Have you ever wondered exactly how long record retention is necessary? Which records are important? How long should you keep them? The Internal Revenue Service has provided a list detailing every important document and their retention schedule. This list includes: Accident reports Financial documents Sales commission reports Vouchers for payments to vendors & much more Record Retention …
Yes we get it. It’s tax time again and everyone usually feels the same. Anger, disappointment and complete confusion on how to do taxes properly. 2017 brings along a nice bit of changes to personal and business tax codes so let us help you. In the meantime enjoy some accounting humor. We frequently refer to videos …
We’ve mailed our 1040 checklist this week in order to help you assemble the necessary information to prepare your personal income tax returns for 2016. If you did not receive your copy or you need an additional copy, you can download it from our website here: 1040 checklist 2016
Work with us anytime, anywhere In today’s business environment, it’s possible to do more and more anytime, anywhere, thanks to the Internet. And now, you can work with us online as well. You can access a variety of services anytime, right from our website. It’s as easy and secure as online banking, and all it …
Background In an effort to combat fraud, The Protecting Americans from Tax Hikes (PATH) Act of 2015 was passed by Congress and signed by President Obama in December. The act revises the filing deadline for Form W-2 and certain types of Form 1099. The filing changes will begin in 2017. This bill was a very important step in the right direction on the …
A nationwide emergency injunction was granted to prohibit the implementation of final FLSA regulations, which doubled the current minimum annual salary level required for exemption from $23,660 to $47,476 per year effective December 1st. On September 20, 2016, 21 states, including Michigan, filed a lawsuit against the United States Department of Labor and the Wage …
The Secrets of My Success is a quarterly event in a series of planned conversations with successful Macomb County entrepreneurs. Speakers will share with the audience valuable lessons learned from their own experiences as small business owners. Keynote speakers are Jerry Innes and Mike Lotito of Innes and Lotito CPA Firm. These are not your …
When do you plan on retiring? Are you thinking about filing for social security early? You’re not alone. The Social Security Administration estimated that 3.9 million people will turn age 62 in 2015 and another 4 million will turn 62 in 2016. What’s more, many of these people will be claiming their Social Security benefits …
It may be hard to believe, but it’s tax time again! We’re all rushed, we’re all busy… but this year, let’s take a little time to help our tax preparers out. They are, after all, human too! Nix the Shoebox Trick It might be convenient and really easy to throw all of your receipts in …
