Tax Alert: Refund Delays in 2017
The Internal Revenue Service (IRS) has issued a reminder that it will be delaying refunds for taxpayers claiming the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC). The delay is meant to give the IRS more time to detect fraudulent tax refunds, which have become a growing problem in recent years….
CHANGES TO TAX LAW UNDER TRUMP ADMINISTRATION
President-elect Donald Trump campaigned on the promise of tax reform. Now that he’s been elected, what changes can we expect to see when he takes office in 2017? Based on his campaign proposals, here’s what to look for: Trump has promised tax cuts of up to 33% and the elimination of several tax brackets. He…
Star CEOs: What Sets Them Apart
There are some prevailing stereotypes associated with successful CEOs. They’re loud and extroverted, with a penchant for self-promotion. While that might be true of some, there’s a lot more to a CEO’s success than those factors. Based on data compiled by Harvard Business Review, the stereotype might not be quite accurate. Using several different evaluation…
Annual Records Solicitation Form Announcement
Your trusted advisors at Lewis & Knopf, CPA, P.C. would like to make you aware of a bogus Annual Records Solicitation Form being mailed to Michigan businesses. The fake form looks official and requests businesses to send $125, along with the completed form, to 5859 West Saginaw Highway #343, Lansing, Michigan. Please be aware the…
Urgent Update: Department of Labor Ruling Blocked
Late yesterday, a federal judge in Texas blocked the Department of Labor’s ruling on overtime pay, which was set to take effect on December 1st. This is the ruling that would require employers to pay employees making under $47,476 per year at a rate of time and one half their regular hourly pay, for all…
The Worst Things to Buy During the Holidays
Holiday shopping season goes into full gear this week, as consumers and retailers prepare for Black Friday. Whether you’ve meticulously planned out your purchases or you just wing it and buy everything on December 23rd, you might want to consult this list of the 15 Worst Things to Buy During the Holidays. Here are some…
Special Alert: DOL Implementation Deadline December 1st
Earlier this year, The Department of Labor announced a Final Rule on overtime pay. Hopefully, you’ve had time to prepare for implementation, which occurs December 1, 2016. Here are some key provisions of the Final Rule: All workers earning up to $913 per week, or $47,476 annually for a full-year worker, must be paid at…
The Election Is Over – What Next?
With President-Elect Donald Trump and the House and Senate both Republican majority, you may wonder what that means for your taxes. We’ve put together some information about how you might see your taxes change, possibly as early as the 2017 tax year. U.S. taxpayers are likely to see changes to their tax brackets, tax rates,…