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Pardon the interruption…

My free advice from last Friday: do not think that you can clean, sort, organize, and move an entire household in three days while prepping for the first 16 day stretch of your tax season work-cation. It does not work well. This Friday finds me in one location and enjoying meeting with our amazing clients while doing the work that…

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What to expect on your W-2

Our office not only prepares tax returns, but we also do accounting and payroll work for small businesses throughout the Battle Creek area. We are just finishing up the year-end rush to complete hundreds of W-2 and 1099 forms. Now, the phone will start ringing as employees begin to get the results of their tax returns. We will get everything…

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Bracket vs. Effective, huh?

Every industry has their own jargon; their own foreign language. Using everything from buzzwords and phrases like “dive deep” or “put a pin in it” to legalese like “prima facia” and “ipso facto,” professionals expect you to understand what they are talking about. The tax world is no different. Bifurcating the depreciation versus taking a Section 179 deduction are words…

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Looking for Deductions, Aye?

One of the continuing education instructors that I really enjoyed this past fall called the Schedule A an endangered species. The Joint Committee on Taxation reported that in 2017 46.5 million tax returns claimed itemized deductions and they are estimating that itemizers will drop to 18 million in 2018. This is a full 60% decrease in Schedule A filers. Before…

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Midweek Mayhem!!

As most of you know, the IRS has been asking tax professionals to ensure that credits and tax benefits are only given to those who qualify. In our case, that means asking our clients (some who have known me since I was a lot shorter than I am now) for additional documentation for our files. Well, I think it is…

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TJCA

No Exemption, But More Credits

I have spent hours reviewing the Tax Cut and Jobs Act (TCJA) and the conclusion that I have come to is that it is far from simple. Anytime I face such an overwhelming change in the way that I am used to doing things, I tend to dig in my heels and make it far more difficult than it needs…

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Buckle Up, Buttercup!

As I write this post, it is being reported that 90% of the IRS employees have been furloughed due to the current government shutdown. The funding bill will be put to the new Congress on January 3rd and we will have to wait and see what happens. Back in September, the Treasury Inspector General for Tax Administration (TIGTA) released a…

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The Fine Print

No Rendering of Advice The information contained within this website is provided for informational purposes only and is not intended to substitute for obtaining accounting, tax, or financial advice from a qualified professional. Presentation of the information via the Internet is not intended to create, and receipt does not constitute, a professional-client relationship. Internet subscribers, users and online readers are…

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Stay Tuned…

In the next several weeks, I will be posting general information about the tax law changes that I think will have the most impact on our clients. Please comment any additional topics or questions that you may have. I will not be able to address specific situations, but we can discuss the general rules and how they apply. If you…

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