BHT&D Certified Public Accountants Blog

Daniel Crawford

Recent Posts

A Letter From Michigan Department of Treasury! What Do I Do?

Posted by Daniel Crawford on Mon, Jun 13, 2016 @ 07:00 AM

You’ve gone to the mailbox and find a Letter of Inquiry from the Michigan Department of Treasury.  While letters from the IRS or State of Michigan can be concerning, do not panic.

Quite often the State of Michigan simply needs additional information to process your tax return.  These letters can be used for a variety of purposes for the state, including: 
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Tags: IRS, Tax Return, Michigan Department of Treasury

7 End Of The Year Tax Planning Tips

Posted by Daniel Crawford on Sat, Dec 19, 2015 @ 08:00 AM

With the end of the year quickly approaching and the holiday stretching our free time thin, it is a great idea to squeeze in a little bit of tax planning to help yourself out before 2016.

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Tags: IRS, Individual Tax Return, Tax Planning, Business Tax, Minimize Taxes, Tax Return

Summer Tax Updates - Federal Filing Dates and MI Unemployment.

Posted by Daniel Crawford on Mon, Sep 21, 2015 @ 08:00 AM

On July 31, 2015, a short-term highway funding bill was signed into law. This bill passed with many provisions that will affect your taxes. 

One notable change will be revised due dates for partnership and corporate tax returns for years beginning after December 31, 2015 (2016 for calendar year entities):

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Why Good Bookkeeping Is Good Business

Posted by Daniel Crawford on Fri, Jul 24, 2015 @ 08:43 AM

Running a business takes more than its fair share of time and effort, not to mention the seemingly endless road bumps along the way. Often, small business owners have a multitude of reasons why bookkeeping takes a backseat to the many other business related tasks. Reasons include lack of training or knowledge in accounting, the inability to afford a quality bookkeeper, or perhaps feeling that is does not add significant value to their business.  

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Tags: Small Business Accounting, Bookkeeping, Small Business

Why Would My Business Need An Audited Financial Statement?

Posted by Daniel Crawford on Mon, Feb 23, 2015 @ 09:22 AM

Audited Financial Statements are the highest level of assurance service offered by a CPA and are used in specific situations, usually for larger clients.

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Tags: Financial Statement, Audited Financial Statement

My Bank Requested A Reviewed Financial Statement. Why?

Posted by Daniel Crawford on Mon, Feb 16, 2015 @ 09:18 AM

Why is my bank requesting a Reviewed Financial Statement in place of the Compiled Financial Statement requested in the past?

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Tags: Compiled Financial Statement, Financial Statement, Reviewed Financial Statement, Audit, Small Business Accounting, Assurance

My Bank Requested A Compiled Financial Statement. Why?

Posted by Daniel Crawford on Mon, Feb 02, 2015 @ 09:00 AM

"Why would my bank request a "Compiled Financial Statement" versus my internally prepared QuickBooks reports?"  We are asked this question often by small business owners.

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Tags: Compiled Financial Statement, Financial Statement, Small Business Accounting, Assurance

The Michigan Corporate Income Tax Apportionment Might Save You Money

Posted by Daniel Crawford on Tue, Jun 03, 2014 @ 09:00 AM

Do you understand the Michigan Corporate Income Tax apportionment? If your business has sales in states outside of Michigan and are not taking advantage of it, you might be paying more taxes than you need to.

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Tags: Michigan Corporate Income Tax, Small Business Accounting, Minimize Taxes

What Steps Can I Take to Avoid Having My Tax Return Audited?

Posted by Daniel Crawford on Tue, Mar 25, 2014 @ 10:20 AM

The Merriam-Webster Dictionary defines an audit as a complete and careful examination of the financial records of a business or person. US tax payers and tax preparers commonly define it as a headache.

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Tags: Small Business Accounting, Tax Return, IRS Tax Return Audit