September 2012 Client Bulletin
The September 2012 issue of the Client Bulletin is now available. Please check out the publication for timely financial information that could affect you. The publication includes the following articles: Dealing with Household Employees Taxes on Gambling Winnings Exploring the World of Exchange-Traded Funds Tax Calendar For more information about these topics, please contact our…
QuickBooks Tip of the Month – August 2012
There are some new features in QuickBooks 2012 that we would like to share, specifically the program’s calendar view. Users can choose to view a calendar layout of a company’s important transactions (invoice, billing, to-dos), as well as overdue transactions, tasks to be completed, as well as appointments. Drill down into transactions from this screen…
Planning for the 3.8 Percent Medicare Tax on Investment Income
The health care reform package (the Patient Protection and Affordable Care Act and the Health Care and education Reconciliation Act of 2010) imposes a new 3.8 Medicare contribution tax on the investment income of higher-income individuals. Although the tax does not take effect until 2013, it is not too soon to examine methods to lessen…
August 2012 Client Bulletin
Below is a link to download the August issue of Client Bulletin. This month's issue contains the following articles: How Long Should You Keep Records? Wellness Programs for a Healthier Bottom Line Tax Savings Versus College Aid Investing on the New Frontier Selling a Life Insurance Policy Can Be Taxing Tax Calendar For more information…
Local CPA Attends National Alliance of Auto Dealer Advisors Summer Meeting
Greg Waller, CPA, Principal at Lewis & Knopf, CPAs, P.C. recently returned from the Summer Meeting of the National Alliance of Auto Dealer Advisors in Philadelphia, Pennsylvania. Lewis & Knopf is the only accounting practice in the state and one of only 11 practices in the nation selected as a member of the group. Eighteen…
QuickBooks Tip of the Month – July 2012
Using QuickBooks 2012 keyboard shortcuts will make your day-to-day small-business accounting easier and faster. Whether you're working with invoices, customer job lists, or the QuickBooks Clipboard, you can access them quickly with these keyboard shortcuts: Press This PC Shortcut QuickBooks Does This Ctrl+A Displays the Chart of Accounts window Ctrl+C Copies your selection to the…
Healthcare Reform: What It Means for You
On June 28th, 2012, the U.S. Supreme Court generally upheld the Patient Protection and Affordable Care Act of 2010. The decision has far-reaching implications, many of which will financially impact businesses and individuals – and their taxes. As your trusted business advisors, Lewis & Knopf wanted to provide you with a timely overview of the…
Michigan accelerates personal income tax rate cut and revamps personal exemption amounts
On June 26, 2012, Governor Rick Snyder signed legislation that accelerates the date Michigan's personal income rate decreases to 4.25% from 4.35% to October 1, 2012. Previously, that rate cut was scheduled to take effect on January 1, 2013. The governor also signed a bill that allows personal income taxpayers to claim qualifying annual personal…