Blog posts from: 2019

Welcome to the SR team, Julia Locke!

  • April 30, 2019
  • Steve Wisinski, CPA, MAFF

Staff Accountant Julia Locke Julia Locke has joined ShindelRock full-time as a Staff Accountant after a successful internship position! We're thrilled to continue to see our one-time interns become part of our permanent team here at ShindelRock. Julie says her...

What we’re listening to…

  • April 30, 2019
  • ShindelRock

The ShindelRock staff shares its favorite podcasts for 2019: Podcasts For Accounting & Tax Lovers: Yes, we tend to nerd out on accounting and tax issues (hey, we're CPAs!). Here are some of our favorite industry podcasts that keep up...

Department of Treasury reminds Michiganders that Principal Residence Exemption doesn’t expire

The Michigan Department of Treasury is reminding Michiganders that a Principal Residence Exemption – known as a PRE – does not expire. Inaccurate posts being shared on social media are claiming that Michigan taxpayers will experience a surge in property...

Guest Author Jim Niedzinski, CFP®, AIF®: The Benefits of Donor-Advised Funds

Jim Niedzinski, Wealth Advisor from Planning Alternatives, shares how to save taxes on charitable donations and make giving easier with a donor-advised fund. Jim Niedzinski, CFP®, AIF® , Wealth Advisor at Planning Alternatives, discusses the benefits of Donor-Advised Funds Jim Niedzinski is in his 20th year as a wealth...

Understanding written instruments and transfers of property exempt from tax

  • April 17, 2019
  • David Shindel

The Michigan State Real Estate Transfer Tax Act of 1993 outlines various exemptions from the tax it imposes on written instruments and property transfers: 1. Instruments where the consideration is less than $100.2. Instruments not wholly performed within the state...

Understanding constructive receipt of income under cash basis

The accounting method you choose impacts when you deduct expenses and recognize income. Most individuals and small businesses use the cash basis method, where income is recognized when received and expenses are recorded when paid. This means income isn't taxable...

New IRS Code 101(j) changes requires life insurance Notice and Consent in Form 8925

IRS Code Section 101(j) requires employer owned life insurance contracts to have a signed Notice and Consent and annually file of Form 8925 in order to qualify for exceptions to the general rule under this code section. Lack of compliance...

Explaining the taxability of professional athletes

Nonresident professional athletes must use the "duty days" method to determine their Michigan income tax obligations. Personal Service Income Income tax is calculated by multiplying the athlete's personal service income by a fraction. The numerator is the total Michigan duty...