The domestic production activity deduction (DPAD) is a provision enacted in the American Jobs Creation Act of 2004 that is often missed by both veteran and rookie tax preparers. Businesses that have qualified production activities are entitled to a 9% deduction for those activities.
President Trump Declares Disaster Declaration for Mid-Michigan Governor Rick Snyder’s request for disaster declaration was approved by President Trump on Wednesday, August 2, 2017. Four counties, Bay, Gladwin, Isabella and Midland, have been included in the declaration. The declaration is aimed at providing relief via individual assistance and hazard mitigation assistance for local governments. The
Attorney General Bill Schuette reminds Michigan consumers to remain vigilant this tax season. The IRS recently employed four private debt collection agencies to collect some overdue federal tax debts, and collection efforts will begin this week.
Federal Judge Blocks Overtime Rule The overtime rules scheduled to become law on December 1 are an example of Washington bureaucrats’ using executive orders to force changes on businesses without considering all the facts and consequences.
By: Gene G. Smith, CPA May 10, 2016 Companies that sell products in multiple states have complex issues to consider as it relates to what tax obligations arise from their activities. Nexus is a legal term used to establish sufficient physical presence that would require companies to collect and pay sales tax, corporate tax and
If your employees are located in different cities or your business and accountant are in different cities, then it may come in handy. However, there are some limitations in the on-line version compared to the desktop version. Examples are: When viewing the checkbook register, you can only see one page of transactions and can’t scroll
The Internal Revenue Service (IRS) released a notice 12-28-2015 (Notice 2016-4) that it is extending the 2015 tax year filing deadlines for health benefits reporting required by the Affordable Care Act (ACA). This guidance applies to filings required by both small and/or applicable large self-funded employers, Forms 1094-B and 1095-B and Forms 1094-C and 1095-C respectively.