BHT&D Certified Public Accountants Blog

Andrew Seiler

Recent Posts


Posted by Andrew Seiler on Mon, Jul 24, 2017 @ 07:00 AM

The deadline is approaching for ESA Certification and Payment.

Industrial processors who filed for the Eligible Manufacturing Personal Property (EMPP) exemption (commonly referred to as ESA or Form 5278) must complete the final steps to qualify for the exemption.

No later than August 15, taxpayers who filed for the exemption must use the MTO website to log into their portal and certify or correct and certify the return that is in the MTO system.

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Law Changing Overtime Pay For Salaried Workers Is Blocked

Posted by Andrew Seiler on Sat, Nov 26, 2016 @ 09:00 AM

On November 22, 2016, U.S. District Judge Amos Mazzant from the Eastern Texas district issued an injunction to disallow the application of the Department of Labor’s March 23, 2016 “Final Rule” ruling on overtime requirements for salaried workers.

The Final Rule would have raised the minimum salary level to qualify for exempt employee status (EAP) to $913 per week ($47,476 annually), effectively requiring employers to pay overtime to many salaried workers.

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Tags: Payroll, Compensation, Overtime

It’s Time To File Form 2290 – Heavy Highway Vehicle Use Tax Return

Posted by Andrew Seiler on Wed, Aug 03, 2016 @ 07:00 AM

Taxpayers that have a taxable highway motor vehicle registered in their name must file an IRS Form 2290. 

For vehicles placed in service July 1, 2016 or earlier, the due date to file the return is August 31, 2016

The IRS is no longer sending out reminders and the penalties for late payment are significant.  Here are a few points to consider when filing Form 2290:

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Tags: Small Business, Vehicle Tax, Form 2290

Protect Your Small Business Assets With Internal Controls.

Posted by Andrew Seiler on Mon, Jun 06, 2016 @ 07:00 AM

What are internal controls and what do they do for my business? 

Internal controls are processes and procedures that are in place to safeguard the assets of a business.  This is a short summary of the purpose of internal controls, and is intended to encourage small businesses to understand and strengthen their internal control system.

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Tags: Internal Controls, Small Business

Eligible Manufacturing Personal Property Tax Exemption Deadline

Posted by Andrew Seiler on Tue, Jan 26, 2016 @ 08:00 AM

Personal property tax laws for manufacturers and industrial processors have changed for the filing period starting January 1, 2016. 

Personal property located on “occupied” real property that qualifies as Eligible Manufacturing Personal Property (EMPP) is exempt from personal property tax. 

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How Should Loans And Loan Payments Be Recorded In QuickBooks?

Posted by Andrew Seiler on Thu, Jul 02, 2015 @ 07:00 AM

A common mistake I see users of QuickBooks make is how debt or loans are recorded in QuickBooks and how payments are made to that debt. This article will assist QuickBooks users in correctly recording both the original transaction that generated the loan and new asset, as well as recording the loan payments subsequent to the purchase date.

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Tags: Asset, Small Business Accounting, QuickBooks Tips, QuickBooks, Loan, Debt, Liability

Will Itemizing On My Tax Return Give Me A Larger Deduction?

Posted by Andrew Seiler on Thu, Dec 18, 2014 @ 09:00 AM

Questions about itemized deductions are common with taxpayers. During the preparation of personal tax returns, I often receive one or both of two common questions:

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Tags: Automobile Expense Tax Deductions, Itemizing Deductions, Individual Tax Return, Tax Planning, Tax Deductions, Home Office Tax Deduction, Tax Deductible Travel Expenses, Donation to Charity, Minimize Taxes