News & Articles

Team Member Spotlight: Marty Robbins, CPA

Posted on Mon, Jan 18, 2021
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Tags: Business, Individual Income Tax, Team Member

Can a Modest-Income Elderly Person Stop Filing Tax Returns?

Posted on Mon, Jun 27, 2016

As the Old Saying Goes: Better Safe than Sorry.

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Tags: responsible person, Individual Income Tax, Tax Return, Taxes

Don't Take Chances on Gambling

Posted on Fri, May 30, 2014

At the slots or online, remember to keep records.  Gambling at the casino or the racetrack can be entertaining for many people. If you're one of them, you should obviously risk only what you can afford to lose from a personal financial planning perspective. But from the IRS perspective, you need to be aware of the tax consequences.

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Tags: EHTC Article, Internal Revenue Code, Gambling, Documentation, Records Retention, IRC, Individual Income Tax, IRS, Articles, Maintain Records, Gambling WInnings

When Must I Report My 2010 Roth IRA Conversion?

Posted on Thu, Mar 21, 2013

If you converted to a Roth IRA or designated Roth Account in 2010, you must generally report half of the resulting taxable income on your 2012 return. So if this applies to you, act quickly.  

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Tags: Michigan State and Local Tax (SALT), Tax, News, Roth IRA, Individual Income Tax, CPA Firm, Articles, EHTC

IRS Cracks Down on Tax ID Theft: Could You Be a Victim?

Posted on Mon, Mar 11, 2013

In recent years, the IRS has been inundated with thieves filing tax returns using fraudulent information with the goal of stealing other individuals' tax refunds. The tax agency announced that it is cracking down this filing season. Here are the details of the tax identity theft crackdown, as well as a list of "high-risk" areas identified by the IRS and what you can do to help protect yourself.

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Tags: Michigan State and Local Tax (SALT), Tax, Social Security, Individual Income Tax, Consumer Alert, CPA Firm, Articles, EHTC

Federal Benefit Payments Require Direct Deposit for Retirees

Posted on Mon, Feb 25, 2013

Beginning March 1, 2013, retirees receiving Social Security payments and other beneficiaries of federal benefit plans are required to begin receiving payments electronically. That means they will have to receive their benefits via direct deposit to a bank or credit union account or on a debit card. This article explains the new requirement, along with ten facts about Social Security that you might not know.

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Tags: Retirees, Individual Income Tax, Law, Financial Management, Consumer Alert, Articles, Retirement Planning

Now that Congress Has Averted the Fiscal Cliff, What Does it Mean for Me?

Posted on Mon, Feb 11, 2013

A. It depends on your income.

Here are some of the basic provisions of the American Taxpayer Relief Act, which was agreed to by Congress on January 1, 2013:

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Tags: Michigan State and Local Tax (SALT), News, Individual Income Tax, Financial Management, business consulting

Need to Withdraw Money From Your IRA?

Posted on Tue, Sep 11, 2012

Do you want to take some cash from your traditional IRA and perhaps buy a house, or a car, or pay off some bills? Beware of potentially negative tax implications! Continue reading to find out what you need to know to avoid getting hammered in taxes.

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Tags: Tax, Consulting, State and Local Tax, Individual Income Tax, Financial Management, Articles

Is This Your Situation — Going to School to Advance Your Career?

Posted on Tue, Aug 28, 2012

 

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Tags: Accounting, Tax, Consulting, State and Local Tax, Individual Income Tax, Financial Management, Grand Rapids, Articles

'Taxmageddon:' Prepare to Potentially Pay More on Investment Income

Posted on Tue, Jul 31, 2012

On January 1, 2013, an array of tax increases will kick in and leave Americans with significantly larger tax bills - unless Congress acts. Increases are scheduled on capital gains, dividends and the tax rates on wages. That's not all. More people will be liable for the estate tax, the alternative minimum tax and the marriage penalty. The payroll tax cut expires, which means employees will see smaller paychecks, and many other taxpayer-friendly provisions will end. The result has been dubbed "Taxmageddon." This article looks at what might happen to investment income rates and how you can prepare in the coming months.

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Tags: government consulting, Tax, Corporate Income Tax, News, Individual Income Tax, Law, Financial Management, business consulting, Articles