BHT&D Certified Public Accountants Blog

Outstanding Checks? Michigan Requires Reporting Of Unclaimed Property

Posted by Mindy Pennock on Fri, Jun 01, 2018 @ 07:00 AM

The State of Michigan requires annual reporting of ‘unclaimed property’. Unclaimed property is defined as any asset, tangible or intangible, belonging to a third party that remains unclaimed for a specific period of time by the rightful owner. Any holder who fails to file a report of unclaimed property may be subject to fines and penalties as provided in the Uniform Unclaimed Property Act, Public Act 29 of 1995.

Companies and governmental agencies need to identify properties that may be reportable as unclaimed property as of March 31, 2018 and file an unclaimed property report by July 2, 2018.

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Tags: Small Business Accounting, Bookkeeping, Small Business, Payroll

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