Blog posts from: 2024
Reviving Accounting: Careers That Shape the Future
It’s no secret that over the past 15 years, the accounting profession has been struggling to maintain a sufficient hiring pool and keep enrollment up; with the situation continuing to worsen. The Wall Street Journal recently highlighted these issues in...
8 Year End Tax Tips
With year-end fast approaching, it is essential to focus on key deadlines and financial strategies that may affect your tax position. Taking timely action on these matters can help you optimize deductions, minimize liabilities, and close the year on a...
Businesses Get Relief as the Corporate Transparency Act is Delayed
A significant update has emerged for businesses facing the upcoming January 1 deadline to report beneficial ownership information (BOI) to the Financial Crimes Enforcement Network. A federal judge in Texas has issued a preliminary injunction halting the nationwide enforcement of...
How IRA Owners Can Donate to Charity in 2024
In 2024, owners of Individual Retirement Accounts (IRAs) have a great way to give back to their communities. If you’re 70½ or older, you can donate up to $105,000 directly from your IRA to a charity, under a Qualified Charitable...
GUEST AUTHOR: 2025 Retirement Update – New IRS Limits and SECURE 2.0 Provisions Taking Effect for Small Plans
The weather is getting colder, decorations are going up, and people are making travel plans across the country. It can only mean one thing…time to start planning for the 2025 tax year! The IRS recently announced the 2025 contribution limit...
Simplifying Section 83(b): New IRS Form Coming Soon
The IRS is set to release an official form for the Section 83(b) election, a welcome development for individuals and entities granted restricted stock, stock options, or LLC interests. This election lets taxpayers pay taxes on these assets at grant...
Meet our SR Intern: Ashley King
We get to know Ashley King, a Grand Valley State University grad, as she joins our ShindelRock team as an intern: What previous experience do you have in accounting? Before ShindelRock, I spent two tax seasons as an intern for...
U.S. Tax Court rules on basis adjustment for excess losses in closed years
The U.S. tax court has ruled in Surk LLC vs. IRS that a partnership had to adjust its basis in a flow-through entity for losses taken previously, even though they shouldn’t have been deducted in those prior years. The Tax Court...
Earned Sick Time Act reinstated in Michigan beginning Feb. 21, 2025
A Michigan Supreme Court ruling from July 2024 has reinstated the Earned Sick Time Act (ESTA). This legislation requires ALL Michigan employers to accrue employee sick time and takes effect Feb. 21, 2025. Details of the ESTA include: Employees will...
IRS encourages all taxpayers to sign up for an IP PIN before Nov. 23
As the 2025 tax season approaches, the IRS encourages all taxpayers to take an important step to safeguard their identity by signing up for an identity protection personal identification number (IP PIN). An IP PIN is a six-digit number that...