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Category Archives: IRS
Start of Tax Filing Season Delayed (AICPA Article)
The IRS announced on Tuesday that it plans to open the 2013 filing season and begin processing many individual income tax returns on Jan. 30 (IR-2013-2). However, not all taxpayers will be able to start filing tax returns on that … Continue reading →
Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, IRS, Tax filing due dates
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Year End Checklist for businesses
Closing Your Books As you are cleaning up your accounting records for year-end, here are some steps you can take now to make tax-time easier: Verify that you have W-9 forms for each of your independent contractors or at least … Continue reading →
Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, Accounting, IRS, Michigan Taxes, QuickBooks, Small Business, Tax filing due dates
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The “Fiscal Cliff”… what is it?
What is the fiscal cliff? A combination of tax increases and spending cuts automatically scheduled to take effect January 1, 2013 unless Congress and the President take action. Automatic spending cuts Since Congress failed last year to reach a bipartisan debt-reduction … Continue reading →
Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, IRS, Personal Finance
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Post-Election Tax Policy: A briefing from CCH
This is a great briefing on what we can expect post-election when it comes to tax policy. An excerpt… President Obama secured a second term in office November 6, 2012, in the end winning the Electoral College by a wide margin. The President’sre-election … Continue reading →
Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, IRS, Small Business
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Tax Provisions Expiring at the End of 2012
Without action by Congress and the President, there are several tax provisions scheduled to expire at the end of this year. Without proper tax planning, you could be unpleasantly surprised with a big tax bill this April because of the … Continue reading →
Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, IRS
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AICPA Article on Tackling Health Care Reform
Here’s a good summary of the health care reform bill and what it means to your business.
Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, IRS, Small Business
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Shareholder Compensation and Health Insurance Premiums
If you have an S Corporation, this is a must read… S Corporation Compensation and Medical Insurance Issues When computing compensation for employees and shareholders, S corporations may run into a variety of issues. The information below may help to clarify … Continue reading →
Posted in 1040 Personal Income Taxes, 1120 S Corporation Taxes, IRS, Small Business
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The Home Office Deduction Explained
If you use part of your home for business, you may be able to deduct expenses for the business use of your home. These expenses may include mortgage interest, insurance, utilities, repairs, and depreciation. The home office deduction is available … Continue reading →
Posted in 1040 Personal Income Taxes, IRS, Michigan Taxes, Small Business
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What Some Investors Are Doing to Anticipate a Tax Increase
What Some Investors Are Doing to Anticipate a Tax Increase
Posted in 1040 Personal Income Taxes, IRS, Michigan Taxes
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Don’t automatically pay your IRS Notice (CP2000)
The IRS attempts to match items on your tax return to the amounts reported by third parties (e.g., wages reported on your 1040 to the forms W-2 you received from your employer). When there is a discrepancy, the IRS sends you … Continue reading →
Posted in 1040 Personal Income Taxes, IRS, Tax Preparer
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