Home   Resources  

Recordkeeping for Tax Purposes (File: Recordkeeping for Tax Purposes.pdf)
Date Posted: 10/13/20
Which records should you keep? You should keep information that you and the IRS need to determine your correct tax. Everyone should keep the following records.

Rental Income and Expenses (File: Rental Income and Expenses.pdf)
Date Posted: 10/13/20
Rental income includes any payment received for the use or occupancy of property. A deductible expense is any expense that is both ordinary and necessary.

Sale of a Principal Residence (File: Sale of a Principal Residence.pdf)
Date Posted: 10/13/20
Tax implications from selling your home.

Saving for College (File: Saving for College.pdf)
Date Posted: 10/13/20

Saving for Retirement (File: Saving for Retirement.pdf)
Date Posted: 10/13/20
Types of retirement plans.

Self-Employment Tax (File: Self-Employment Tax.pdf)
Date Posted: 10/13/20
Self-employment tax consists of the taxes paid for Social Security and Medicare. As an employee, the employer pays half of the tax and the other half is deducted from the your pay. By contrast, a self-employed taxpayer must pay both halves of these taxes.

Starting a Business (File: Starting a Business.pdf)
Date Posted: 10/13/20
A business plan is a written document created to detail all aspects of a business on a comprehensive level. Many banks and investors require a written business plan before lending to, or investing in, a business.

Tax Scams— Protect Yourself (File: Tax Scams - Protect Yourself.pdf)
Date Posted: 10/13/20
There are many tax scams out there with the purpose of stealing your identity, stealing your money, or filing fraudulent tax returns using your private information. Tax scammers work year-round, not just during tax season and target virtually everyone. Stay alert to the ways criminals pose as the IRS to trick you out of your money or personal information.

Taxpayers Who Receive an IRS Notice (File: Taxpayers Who Receive an IRS Notice.pdf)
Date Posted: 10/13/20
Receiving a notice from the Internal Revenue Service is usually no cause for alarm. Every year the IRS sends millions of letters and notices to taxpayers. In the event one shows up in the mailbox, here are ten things you should know.

Vehicles — Business Use (File: Vehicles - Business Use.pdf)
Date Posted: 10/13/20
Beginning in 2018, employee business expenses are no longer deductible. The deduction for business auto expenses generally applies only to self-employed persons. Exceptions exist for Armed Forces reservists, qualified performing artists, and fee-basis state or local government officials. Reimbursements under accountable plans are still allowed.

« Previous 1 2 Next »
  Services    Resources    Staff Roster    Notes & News    FAQ    Location/Contact Us    File Drop  

Fromholz, Paauwe & Baker, P.C., 5080 West Bristol Road, Flint, Michigan 48507 | Phone: (810)733-3450 | Fax: (810) 733-3736