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H&S 2019 Tax Newsletter

January 14, 2019/in Articles, Newsletters, Tax Tips, Uncategorized/by Stephanie Hendon

We hope that you enjoyed the holidays and that 2019 is off to a great start! For us, the new year brings a new tax season and a new tax newsletter.

Our annual tax newsletter is full of many new tax law changes, and we hope you find it helpful. Please feel free to contact your H&S tax professional if you have any questions – we are here to help!

Click the image below to download a copy of our 36th annual tax newsletter. Please feel free to pass it on!

Click to Download Newsletter

If you’d also like a copy of the checklist or questionnaire, please click the links below to download:

H&S Tax Questionnaire

H&S Tax Checklist

H&S Companies Celebrates 35 Years in Business by Raising Funds for Grand Rapids Whitewater

October 8, 2018/in Uncategorized/by Stephanie Hendon

H&S Companies started out in Fremont, Michigan in 1983. This year they celebrate 35 years in business, with 10 locations, and over 80 team members. Co-Founder, Dan Slate, never has a shortage of ideas when it comes to celebrating milestones, and he decided the firm should do so by raising money for a worthy cause. “We chose to hold a golf outing for clients and employees where all the proceeds will be donated to the Grand Rapids Whitewater Organization, said Co-Founder Jack Hendon. It’s an organization with a plan that will have a tremendous economic, social, and environmental impact on the greater Grand Rapids Community.”

H&S Shareholders invited clients and employees across all offices to play in the golf outing. The 124-person outing was held at Scott Lake Golf & Practice Center in Belmont, Michigan and brought in over $15,000 with sponsorships, silent auction, 50/50 raffle, and course games.

“We could not have done this without the support of many of our clients and business partners, who generously sponsored the outing. Special thanks to Founders Brewing Company and ChoiceOne Bank for being our Class IV Rapids level sponsors, as well as VizCom Media, Bill & Paul’s Sporthaus, and our friends at HS&C Wealth Management for their Class III Rapids level sponsorships,” said Jack. A full list of sponsors can be found below.

H&S Companies would also like to thank their clients, employees, and friends who came to the outing to show their support, either by volunteering, playing, or bidding in the silent auction. “Many folks we have known and worked with for 35 years, said Dan.”

Grand Rapids Whitewater is a 501c3 non-profit organization dedicated to the restoration and revitalization of the Grand River’s rapids. Their mission is to put the namesake rapids back in the Grand for all to enjoy, paddlers, anglers, rowers, and individuals alike. Visit grandrapidswhitewater.org to learn more.

H&S Companies encourages you to join them in contributing to the continued success of the Grand Rapids Whitewater Organization.

Thank you to all of our generous sponsors, we couldn’t have done it without you!

Class IV Rapids Sponsors ($2,000):
• ChoiceOne Bank
• Founders Brewing Company

Class III Rapids Sponsors ($1,000):
• VizCom Media
• HS&C Wealth Management
• Bill & Paul’s Sport Haus

Class II Rapids Sponsors ($500):
• Charter Capital Partners
• Media Place Partners
• Heglund-Sova Realty

Lunch Sponsor ($500):
• Jordo Properties

Beverage Cart Sponsors ($250):
• Schenk Boncher & Rypma
• Drs. Fair & Wallace
• Edgewater Bank

Golf Cart Sponsors ($250):
• Eastern Sun Properties
• Drs. Fair & Wallace
• Dr. O’Rourke, DDS

Flag Sponsors ($125):
• Swift Printing
• Chemical Bank
• West Michigan Insurance
• White Agency
• Newaygo Insurance
• HS&C Wealth Management

Silent Auction Donations were made by the following companies:
• Wightman
• Water-Dog
• Lighthouse Group
• RMOC – Rocky Mountain Outdoor Center
• West Michigan Instrumentation
• FrictionGear
• KB Stamping
• Rowster Coffee

Coffee Provided By:
• Rowster Coffee

Donuts Provided By:
• Bostwick Bakery

Postcard tax return, not so simple afterall…

September 10, 2018/in Articles, Newsletters, Tax Tips, Uncategorized/by Stephanie Hendon

AccountingToday explains why the newly unveiled postcard tax return isn’t so simple afterall. Click the link below to read more!

AccountingToday explains Postcard Tax Return

Turn-key Payroll Services

May 11, 2018/in Articles, Newsletters, Uncategorized/by Stephanie Hendon

Our Payroll Specialists at H&S take care of your payroll needs from start to finish with turn-key services. Why take the time to stay up-to-date with ever-changing payroll rules? Let us ensure you meet all compliance regulations. Click on the image below to download our one-pager detailing everything we offer.

Click to Download

Tax Extenders Passed!

February 9, 2018/in Articles, Media, Newsletters, Tax Checklist, Tax Tips, Uncategorized/by CurlyHost

In case you missed it, the tax extenders included in the budget deal passed on February 8th. Of course, please feel free to reach out to your H&S tax professional with questions about these provisions.

Click the image below to download a summary of tax provisions extended as part of the budget deal signed 2/9/18!

Click to Download

H&S 2018 Tax Newsletter

January 8, 2018/in Articles, Newsletters, Tax Tips, Uncategorized/by CurlyHost

Well folks it’s here, another new year! Happy 2018! We hope you enjoyed the holidays, and were able to spend time with family and friends.

Our annual tax newsletter is full of many new tax law changes, and we hope you find it helpful. There are sure to be questions, so please feel free to contact your H&S tax professional – we are here to help!

Click the image below to download a copy of our 35th annual tax newsletter. Please feel free to pass it on!

Click to Download Newsletter

If you’d also like a copy of the checklist or questionnaire, please click the links below to download:

H&S Tax Checklist

H&S Tax Questionnaire

2017 Tax Reform! Last-minute year-end moves…

December 27, 2017/in Articles, Committed to Our Communities, Newsletters, Press Releases, Tax Checklist, Tax Tips, Uncategorized/by CurlyHost

Check out this letter for last-minute year-end moves you can make, in light of the Tax Cuts and Jobs Act.

Click to Download the PDF letter

Tony Rubleski Coming to Muskegon!

October 25, 2017/in Articles, Media, Press Releases, Uncategorized/by Stephanie Anderson

Hey there Muskegon area folks! We have an exciting opportunity…mark your calendars for Wednesday, November 8th at 8:00 am because we’re bringing in Author & Speaker, Tony Rubleski to share leadership lessons to take your business and career to the next level. We’re hosting this event in partnership with our friends at the Muskegon Lakeshore Chamber of Commerce. There’s still room to reserve a seat!

There will be a continental breakfast, presentation by Tony, and books available for purchase as well as signing! Click the image below to download the invite with all the details.

Reserve a spot for you and your colleagues today by emailing Stephanie Hendon at stephanieh@hscompanies.com or calling 616-456-6550 x1908.

We hope to see you at the Shoreline Inn & Conference Center on the 8th!

Click to Download

Condo Association Services

September 27, 2017/in Uncategorized/by Stephanie Anderson

Did you know that one of the many services H&S offers, is Condo Association Services? From the most basic level of service, Compilation, to Review, and the most in-depth level, an Audit, we offer it all.

Download our Condo Association Services info sheet below for more detailed information.

Click to Download

Casualty Loss Instructions

June 30, 2017/in Uncategorized/by Stephanie Anderson

As a result of the flooding in the Mt. Pleasant and Midland areas this June, H&S Companies wants you to know we stand ready to help! If you suffered damage to your home or personal property, you may be able to deduct the losses you incurred on your federal income tax return. Here are a few tips you should know about deducting casualty losses:
• Casualty Loss: You may be able to deduct casualty losses based on the damage done to your property as a result of the flooding.
• Normal wear and tear: Casualty loss do not include losses incurred from normal wear and tear to your property.
• Covered by insurance: If your property was insured, you must file a timely claim for reimbursement of your loss. If you don’t, you cannot deduct any casualty losses as a result of the flooding. You must reduce any losses by the amounts of any reimbursements you have or are expected to receive from your insurance company.
• When to deduct: As a general rule, you must deduct the casualty loss as a result of the flooding when you file your 2017 tax return. However, if Isabella and Midland counties get declared as a federal disaster area, you may have a choice of when to deduct the loss. You can choose to deduct the loss on your 2017 return or on an amended 2016 return. Claiming a disaster loss on the 2016 return may result in a lower tax for 2016, often producing a refund.
• Amount of loss: You figure the amount of your loss using the following steps:

o Determine your adjusted basis in the property before the flooding. For property you buy, your basis is usually its cost to you.
o Determine the decrease in fair market value, or FMV, of the property as a result of the flooding. FMV is the price for which you could sell your property to a willing buyer. The decrease in FMV is the difference between the property’s FMV immediately before and immediately after the flooding.
o Subtract any insurance or other reimbursement you received or expect to receive from the smaller of those two amounts.

• 10 percent rule: Casualty losses on personal-use property must exceed 10% of your adjusted gross income.
• Future income: Do not consider the loss of future profits or income due to the casualty as you figure your loss.
• Business or income property: Some of the casualty loss rules for business or income property are different than the rules for property held for personal use.

For more information regarding casualty losses, please visit the IRS website here for further details and instructions: https://www.irs.gov/taxtopics/tc515.html

As always, feel free to give us a call at 989-817-4900 or check out our Mt. Pleasant location page and reach out to one of our CPAs!