BHT&D Certified Public Accountants Blog

Dwayne Houghton

Recent Posts

Economic Impact (Stimulus) Payment: Paper or Direct Deposit?

Posted by Dwayne Houghton on Wed, Apr 22, 2020 @ 11:00 AM

Sources cited by the Washington Post indicate that if the IRS does not have direct deposit information on record for you, paper stimulus checks will be mailed out starting on April 24th. The IRS plans to issue checks at a rate of about 5 million checks per week, which could take up to 20 weeks to complete. They will be sent out in reverse 'adjusted gross income' order, starting with people with the lowest income first:

Read More

Tags: Economic Impact Payment, IRS Direct Deposit, IRS Paper Check, Stimulus Payment

COVID-19 Federal and Michigan Unemployment Updates

Posted by Dwayne Houghton on Fri, Mar 20, 2020 @ 01:56 PM

To answer questions about paid sick leave and unemployment, we are providing a chart about recent federal and Michigan state updates.

The comprehensive chart answers questions about:

Read More

Tags: Michigan, COVID-19, Paid Sick Leave, Michigan Unemployment

How Do I Close An Accounting Period In QuickBooks?

Posted by Dwayne Houghton on Thu, Feb 11, 2016 @ 07:51 AM

With over 4.5 million users world wide, QuickBooks is the leading software choice for small businesses.  QuickBooks is popular in large part due to how easy the program is to learn. You do not need to have an accounting degree, or for that matter really understand all accounting concepts to use the program.  For this same reason, QuickBooks can allow for some very interesting things to occur.

Read More

Tags: Small Business Accounting, QuickBooks Tips, QuickBooks, Small Business

What New 2014 Tax Forms Will I See Related to the Affordable Care Act?

Posted by Dwayne Houghton on Tue, Jan 27, 2015 @ 04:29 PM

There are several new forms that have been issued by the IRS related to reporting requirements under the Affordable Care Act.

Read More

Tags: Individual Tax Return, Tax Planning, Premium Tax Credit, Affordable Care Act

Tax Planning Now Could Reduce Your Tax Liability.

Posted by Dwayne Houghton on Tue, Oct 14, 2014 @ 08:54 AM

Tax planning this fall could mean more money in your pocket at April 15th.

Read More

Tags: Individual Tax Return, Tax Planning, Tax Deductions, Retirement Plan, Business Tax, Tax Return, Farm Taxes

Can QuickBooks Track Which Areas of My Business are the Most Profitable?

Posted by Dwayne Houghton on Tue, Aug 05, 2014 @ 08:00 AM

Many of today's businesses involve activities in multiple areas. In a retail environment, this might involve food sales versus non-food sales.

Read More

Tags: Small Business Accounting, QuickBooks Tips, QuickBooks

Beware of Telephone Scams Claiming to be the IRS

Posted by Dwayne Houghton on Thu, Jun 19, 2014 @ 11:01 AM

On April 14, 2014, the IRS issued a warning about telephone scams. This is likely to be an ongoing issue. So, we wanted to make sure you were aware of this. The IRS article states:

Read More

Tags: IRS, IRS Telephone Scams

The Expire Act Extends Tax Provisions that Expired at the End of 2013

Posted by Dwayne Houghton on Wed, Apr 30, 2014 @ 09:00 AM

There were many tax provisions that expired as of December 31, 2013. Is Congress taking any action to extend these provisions?

Read More

Tags: Expire Act, Tax Provisions, Small Business Accounting

Tax Deductions: What Are My Options for My Automobile Expenses?

Posted by Dwayne Houghton on Thu, Dec 12, 2013 @ 02:14 PM

A tax deduction question we often hear is, "What are my options for deducting my automobile expenses?" The Internal Revenue Code allows for two methods for deducting automobile expenses incurred for business use purposes, the standard mileage rate method and the actual expense method. Are you using the best method for you?

Read More

Tags: Automobile Expense Tax Deductions, Tax Deductions

How to Contribute More to Retirement than a SIMPLE IRA Plan Allows

Posted by Dwayne Houghton on Mon, Aug 26, 2013 @ 09:30 AM

Sometimes, we are asked, "How can I contribute more to my retirement than is allowed under a simple IRA plan?" In this article, we'll discuss some of the retirement plan options to address this question.

Read More

Tags: Retirement Plan, Simple IRA Plan