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  • 2018 Year-End Payroll Checklist

    One year is ending and another is beginning. It’s a time for wrapping tasks up and starting new things. This includes your payroll. At the end and beginning of each year, there are certain payroll requirements you must complete. Use this end-of-year payroll checklist to complete all your payroll tasks on time. The first section lists payroll year-end procedures you should finish before the year ends. The second section lists things you should do at the beginning of the next year.
  • How tax reform is changing clients’ financial plans

    The passage of the law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, required CPA financial planners to make many changes to their clients' financial plans. The areas they have had to adjust most frequently in response to the TCJA include charitable giving strategies, business structure, and estate plans, according to the most recent AICPA Personal Financial Planning Trends Survey.
  • 2019 Pre-Tax Season Checklist for Tax Professionals

    Planning for the upcoming tax season is an important step in managing the professional liability risk associated with providing tax services. The following pre-tax season checklist provides several suggestions firms should consider in planning for this work.
  • A new generation of accounting firms

    The accounting profession is evolving swiftly, and firms that do not keep up with that evolution may fall behind. Firms that have long focused most of their energy on offering traditional services, such as preparing tax returns and performing audits, particularly need to find ways to stay relevant and match the growing needs of their clients.
  • E-News - December 11, 2018 - State Treasurer Writes Open Letter to Michigan CPAs, New Name for State’s Marijuana Regulator, and More

  • Small businesses face choices on tax reform before the end of the year

    The Tax Cuts and Jobs Act that President Trump signed last December promises to give small business owners a tax reduction of up to 20 percent for 2018, but there has been a lot of confusion about which businesses will qualify for the deduction and other tax breaks. The IRS has issued some guidance and proposed regulations that can be used to help determine which companies and individuals can benefit from the pass-through tax deduction and how it can be calculated.
  • It's Almost Tax Time: Last Minute Tax Tips to Get the Most from the Reformed Tax Law

    American taxpayers can expect the Tax Law & Jobs Act to most significantly impact itemizers, homeowners, the self-employed and parents. Among the most notable changes, new standard deductions and limitations on itemized deductions will materially impact what taxpayers are and are not entitled to write-off.
  • Employee benefit plan auditing rules to change

    Reporting and performance requirements for practitioners auditing employee benefit plans subject to the Employee Retirement Income Security Act of 1974 (ERISA) will change under a new standard that the AICPA Auditing Standards Board (ASB) has voted to issue.
  • New name and website reflect marijuana now legal in Michigan

    Reflecting the legalization of marijuana for recreational use, the state department that regulates the pot industry is changing its name. The Bureau of Medical Marijuana Regulation is losing one of its Ms and now is the Bureau of Marijuana Regulation.
  • 'Tis the Season ... For Identity Thieves

    With the holiday shopping season in full swing, the Internal Revenue Service and Security Summit partners warn taxpayers to take extra steps to protect their tax and financial data from identity thieves. The holidays offer cybercriminals a chance to steal financial account information, Social Security numbers, credit card information and other sensitive data to help them file a fraudulent tax return in 2019.

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