2012 Newaygo County Farmers Forum A Huge Success

December 17, 2012/in Locations & Services, Tax Tips/by revel

The Newaygo Insurance Agency’s 2012 Newaygo County Farmers Forum, held on Tuesday December 11, 2012, was a huge success! Photo Credit: office.microsoft.com

The Newaygo Insurance Agency’s 2012 Newaygo County Farmers Forum, held on Tuesday December 11, 2012, was a huge success! Approximately 120 farmers from across the county gathered at Northern Trails Restaurant and listened to experts from across disciplines to bring them up-to-speed on matters of concern.

Chad Appold, H&S Companies CPA, and Jack Hendon, H&S Co-Founder, presented to the group on tax changes that may affect farmers in 2013.

“The Farmers Forum was a very impressive gathering,” said Jack Hendon, H&S Companies Co-Founder, “Dan Johnson, of Newaygo Insurance Agency, did a terrific job of bringing together subject matter experts! We’re looking forward to next year’s forum.”

Other items covered, included: safety issues concerning farmers, Right to Farm Act proposed changes, and weather insurance information.

To learn more about tax changes that are slated to affect farmers, download our free outline or contact Chad Appold.

Chad Appold
Certified Public Accountant
231.924.8003
chada@hscompanies.com

Candidate Comparison | How Each Candidate Will Affect Small Biz

September 26, 2012/in Articles, Tax Tips/by revel

The election will have a large impact on tax legislation.

As the presidential race heads into the fall both candidates are campaigning hard. Many analysts have said this election will come down to the economy. With that in mind, let’s review each candidate’s position on matters that affect small business.

Code Sec. 179

Currently covers qualifying new property placed in service before January 1, 2013. Dollar limit: $139,000; Investment limit: $560,000

President Obama: Has not addressed

Mitt Romney: Has not addressed

Bonus Depreciation

Currently allows for 100% depreciation for qualified investments made after September 8, 2010 and before January 1, 2012

President Obama: Has proposed extending 100% bonus depreciation

Mitt Romney: Has discussed extending bonus depreciation, but has not indicated a percentage

Research Tax Credit

Currently allows those who participate in research to calculate this credit using the alternative simplified credit method

President Obama: Proposed to make this credit permanent and to increase the alternative simplified credit to 17%

Mitt Romney: Proposed to make this credit permanent

Code Sec. 199 Deduction

Currently allows a qualified taxpayer to deduct an amount equal or less than the phased-in percentage of taxable income or qualified production activities income

President Obama: Proposed to exclude oil, gas, coal and other producers of hard mineral fossil fuels from this credit

Mitt Romney: Has not addressed

Carried Interest

Currently allows general partners in private equity and hedge funds to charge limited partners a percentage of the fund’s earnings, aka, carried interest, which is characterized as a capital gain

President Obama: Proposed to tax as ordinary income with special rules for partners

Mitt Romney: Has not addressed

They’ve also both taken stances on things like individual rates, deductions and credits, estate tax, and the corporate tax (which we reviewed here).

Tax planning early will be difficult this year, as the presidential election will have a significant impact on tax law. Be sure to check out our October newsletter for even more tax planning ideas that may impact your tax situation for 2012.

If you have questions regarding what tax legislation is on the horizon please contact an H&S Tax Professional.

Source: CCH Tax Briefing

Candidate Comparison | How Each Candidate Will Affect Small Biz

September 26, 2012/in Articles, Tax Tips/by revel

The election will have a large impact on tax legislation.

As the presidential race heads into the fall both candidates are campaigning hard. Many analysts have said this election will come down to the economy. With that in mind, let’s review each candidate’s position on matters that affect small business.
Code Sec. 179
Currently covers qualifying new property placed in service before January 1, 2013. Dollar limit: $139,000; Investment limit: $560,000
President Obama: Has not addressed
Mitt Romney: Has not addressed
Bonus Depreciation
Currently allows for 100% depreciation for qualified investments made after September 8, 2010 and before January 1, 2012
President Obama: Has proposed extending 100% bonus depreciation
Mitt Romney: Has discussed extending bonus depreciation, but has not indicated a percentage
Research Tax Credit
Currently allows those who participate in research to calculate this credit using the alternative simplified credit method
President Obama: Proposed to make this credit permanent and to increase the alternative simplified credit to 17%
Mitt Romney: Proposed to make this credit permanent
Code Sec. 199 Deduction
Currently allows a qualified taxpayer to deduct an amount equal or less than the phased-in percentage of taxable income or qualified production activities income
President Obama: Proposed to exclude oil, gas, coal and other producers of hard mineral fossil fuels from this credit
Mitt Romney: Has not addressed
Carried Interest
Currently allows general partners in private equity and hedge funds to charge limited partners a percentage of the fund’s earnings, aka, carried interest, which is characterized as a capital gain
President Obama: Proposed to tax as ordinary income with special rules for partners
Mitt Romney: Has not addressed
They’ve also both taken stances on things like individual rates, deductions and credits, estate tax, and the corporate tax (which we reviewed here).
Tax planning early will be difficult this year, as the presidential election will have a significant impact on tax law. Be sure to check out our October newsletter for even more tax planning ideas that may impact your tax situation for 2012.

If you have questions regarding what tax legislation is on the horizon please contact an H&S Tax Professional.

Source: CCH Tax Briefing

H&S April Newsletter

April 2, 2012/in Newsletters/by revel

April 2012 Edition of the Bottom Line

In This Edition:

Strategically Planning for Success – What is strategic planning, and how can it help you?
Enterprise Resource Planning – Do departments within your organization use different systems? Enterprise Resource Planning can help you integrate information systems across the whole organization.
Tax Briefs – Stay up-to-date on changes.
Michigan Employment Outlook – What’s on the horizon for employees and employers in the state?
H&S Payroll Services – Tailored solutions, delivered.

Click here to download the April newsletter.

H&S April Newsletter

April 2, 2012/in Newsletters/by revel

April 2012 Edition of the Bottom Line

In This Edition:

Strategically Planning for Success – What is strategic planning, and how can it help you?
Enterprise Resource Planning – Do departments within your organization use different systems? Enterprise Resource Planning can help you integrate information systems across the whole organization.
Tax Briefs – Stay up-to-date on changes.
Michigan Employment Outlook – What’s on the horizon for employees and employers in the state?
H&S Payroll Services – Tailored solutions, delivered.

Click here to download the April newsletter.

H&S April Newsletter

April 2, 2012/in Newsletters/by revel

April 2012 Edition of the Bottom Line

In This Edition:

Strategically Planning for Success – What is strategic planning, and how can it help you?
Enterprise Resource Planning – Do departments within your organization use different systems? Enterprise Resource Planning can help you integrate information systems across the whole organization.
Tax Briefs – Stay up-to-date on changes.
Michigan Employment Outlook – What’s on the horizon for employees and employers in the state?
H&S Payroll Services – Tailored solutions, delivered.

Click here to download the April newsletter.

New Rules for the Power of Attorney and Declaration of Representative Form

February 10, 2012/in Articles/by revel

As of March 1, 2012, there are new rules in effect regarding Form 2848, Power of Attorney and Declaration of Representative. Married couples will now need to file separate forms designating their Power of Attorney – even if they are selecting the same person. If a married couple has Form 2848 on file prior to the March 1^st deadline, they do not need to refile with separate forms.

Tag Archive for: 2012

2012 Newaygo County Farmers Forum A Huge Success

To learn more about tax changes that are slated to affect farmers, download our free outline or contact Chad Appold.

Candidate Comparison | How Each Candidate Will Affect Small Biz

If you have questions regarding what tax legislation is on the horizon please contact an H&S Tax Professional.

Candidate Comparison | How Each Candidate Will Affect Small Biz

If you have questions regarding what tax legislation is on the horizon please contact an H&S Tax Professional.

New Rules for the Power of Attorney and Declaration of Representative Form

E-news Program Enrollment