BHT&D Certified Public Accountants Blog

Will My Gift To My Employees Be Subject To Payroll Taxes?

Posted by Lori Shepard on Tue, Dec 05, 2017 @ 03:00 PM

This is the time of year when many employers give deserving employees a reward for a job well done.  For FICA and income tax withholding purposes, wages don’t include gifts that are classified as de minimis fringe benefits.  Tax-free de minimis fringes are benefits provided by employers that are offered infrequently and have a fair market value so small that it is impractical and unreasonable to account for them.  The following are treated as de minimis fringes: 

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Tags: Business Tax, Payroll Tax, Small Business, Gifts

Details of the Proposed Tax Cuts and Jobs Act

Posted by Joe Turnes on Tue, Nov 07, 2017 @ 01:00 PM

The proposed Tax Cuts and Jobs Act was released on November 2, 2017.  While not law, there are some rather dramatic changes being suggested.  The goal is to provide the “middle class” with tax savings.  A few of the more important items being discussed:

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Tags: Business Tax, Tax Reform, Individual Tax

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

Is My Michigan Personal Property Exempt From Property Taxes?

Posted by Aric Salgat on Mon, Jan 19, 2015 @ 09:00 AM

Beginning January 1, 2014, all businesses in Michigan with a “true cash value” of taxable assets of less than $80,000, within each taxing jurisdiction, are exempt from personal property tax. 

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Tags: Michigan Personal Property Tax Exemption, Statewide Essential Services Assessment, PPT, EMPP, SESA, Business Tax

Can I File Michigan Sales Use and Withholding Tax Online?

Posted by Lori Shepard on Fri, Nov 28, 2014 @ 08:00 AM

The MTO (Michigan Treasury Online) is a new service available for filing and paying the SUW taxes.

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Tags: Small Business Accounting, Business Tax, Payroll Tax

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.

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