S Corporations Reasonable Compensation Requirement
Unlike a C corporation, which itself pays the tax on its taxable income, an S corporation does not directly pay taxes on its income; instead, its income, losses, deductions, and credits flow through to its shareholders’ individual tax returns on a pro rata basis. These distributions are not subject to self-employment (Social Security and Medicare)…
Local Accounting Firm Announces New Promotions
Lewis & Knopf, CPA, P.C. is pleased to announce the promotions of Michael Krampe, CPA, and Allen Gamble, CPA. Krampe, who previously served as a manager, steps into the new role of principal. He has been with the firm since 2015, serving clients in a variety of industries including farming, medical, construction, retail and real…
Are You Using QuickBooks’ Custom Fields? Should You Be?
One of the reasons that QuickBooks is so popular is that it can be used by a wide variety of business types, from pet stores to landscaping companies to coffee shops. Many companies are satisfied with the software as is and don’t need to make any modifications. But have you ever needed to include more…
Lewis & Knopf Welcomes Accounting Associate to Small Business Services Team
Lewis & Knopf, CPAs, P.C. is pleased to announce the addition of Rebecca Ann Fletcher to their small business services team as an accounting associate. Fletcher attended University of Michigan – Flint and is a member of Beta Alpha Psi, an international honor organization for financial information students. She also holds an Associate of Early…
Lewis & Knopf Welcomes Brittan Sepanak to Small Business Services Team
Lewis & Knopf, CPAs, P.C. is pleased to announce the addition of Brittan Ashley Sepanak to their small business services team as an accounting associate. She joins the firm after 5 years with Christopher and Company CPAs PLLC in Beulah, Michigan. Sepanak’s responsibilities include bookkeeping for clients, completing payroll and sales tax returns, and completing…
Lewis & Knopf Welcomes New Staff Accountant
Lewis & Knopf, CPAs, P.C. is pleased to announce the addition of Joshua Tyler Legant to their professional staff as a staff accountant. He joins the firm after seven years serving as a Technical Sergeant in the United States Air Force. While in the Air Force, he worked as an aircraft mechanic and instructor. Legant…
Lewis & Knopf Announces New Director of First Impressions
Lewis & Knopf, CPAs, P.C. is pleased to announce the addition of Makenzi Mae Melchor as their Director of First Impressions. A recent graduate of Mott Community College, Melchor earned an Associate of Arts in 2021. In her free time, she enjoys gardening and playing with her dogs. Melchor currently resides in Montrose, Michigan with…
Lewis & Knopf Announces New Accounting Associate
Lewis & Knopf, CPAs, P.C. is pleased to announce the full-time addition of Melissa Lynn Nichols to their small business services team. She joins the firm as an accounting associate. Nichols comes to the firm after 16 years as the regional manager of Fresh Roasted Almond Company in Warren, Michigan. A Michigan native, she currently…