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The Equifax Breach: Steps to Protect Your Family


Approximately 143 million consumers were affected by the recent Equifax data breach. This article addresses how to check if your information is at risk, how to protect yourself, and what to beware of in the future as a result of the breach.

Education Savings Plans Help Ease the Financial Burden of Higher Education


No doubt about it, the cost of higher education is…well, high. As college tuition and fees continue to increase every year, being able to financially support your child through college is a real concern for many parents. However, it is never too early to start saving for your child’s education.

AHP Announces Partner Promotion in its Grand Rapids Office

AHP is proud to announce the promotion of Stephanie M. Cleaver, CPA to partner effective January 1, 2017.

Have You Recently Received a Layoff Notice? What Are the First Steps You Should Take?

No matter the situation, leaving a job is an emotional and intimidating experience. It is especially terrifying when it wasn’t something you had planned for ahead of time. However, there are steps you can take to aid in your financial well-being and peace of mind.

Should You Make a “Charitable IRA Rollover” in 2016

Taking an IRA withdrawal and donating it to charity can be a tax-smart option for charitably inclined retirees. But if you’re eligible, you might save more tax by making a direct charitable IRA rollover.

What the New Overtime Rules Mean for You

On May 18, the Department of Labor (DOL) came out with its new final rules, which take effect on December 1, 2016. The rules will significantly raise the salary level used to determine whether employees are eligible for overtime and will affect more than 4 million salaried employees, according to the DOL.

Understand the Tax Consequences of Selling Your Home

Your home might be one of your biggest investments, but the tax treatment of a sale can differ from that of other investments. Here’s what you need to know if you’re preparing to sell your principal residence or vacation home.

Unexpected Retirement Plan Disqualification Can Trigger Serious Tax Problems

It’s not unusual for the IRS to conduct audits of qualified employee benefit plans, including 401(k)s. Plan sponsors are expected to stay in compliance with numerous, frequently changing federal laws and regulations. If the IRS uncovers compliance errors and the plan sponsor doesn’t fix them, the plan could be disqualified.

The End is Approaching for Popular Social Security “File and Suspend” Strategy

You will not be impacted by the discontinuation of this strategy if you have already filed and suspended. However, if you were born on or before May 1, 1950, you are still eligible to file and suspend as long you do so before April 30, 2016.

Tips for Deducting Losses from a Disaster, Fire, or Theft

Victim of a disaster, fire or theft? You may be eligible for a tax deduction. But many rules and limits apply. Here are some things you should know.

Latest Links See All Links

FASB: Implementing New Standards

http://www.fasb.org/implementation

Lansing Area Economic Partnership (LEAP)

http://www.purelansing.com

The Federal Student Financial Aid Handbook

http://ifap.ed.gov/ifap/byAwardYear.jsp?type=fsahandbook&awardyear=2008-2009

AICPA Governmental Audit Quality Center

http://gaqc.aicpa.org/

Michigan Bulletin for Audits of Local Units of Government

http://www.michigan.gov/treasury/0,1607,7-121-1751_31038---,00.html

Michigan Uniform Reporting Format for Financial Statements - Counties and Local Units of Government

http://www.michigan.gov/documents/unifrepformatgasb34_47528_7.PDF

Michigan Government Accounting and Auditing Guide

http://www.michigan.gov/mde/

Michigan Uniform Budgeting Act

http://www.legislature.mi.gov/(S(gzepvq2jjqv0j3mwh0qsod45))/mileg.aspx?page=GetObject&objectname=mcl-Act-2-of-1968

Government Finance Review published by Government Finance Officers Association

http://www.gfoa.org/index.php?option=com_content&task=view&id=72&Itemid=92

The Employee Retirement Income Security Act - ERISA

http://www.dol.gov/compliance/laws/comp-erisa.htm

Latest Blog Posts

The Equifax Breach: Steps to Protect Your Family

Update posted on September 12 2017

IRS Warns to Beware of Charity Scams Related to Hurricane Recovery

Update posted on September 08 2017

Lee Joins Ann Arbor Office as Senior Manager

Update posted on August 13 2017

Casualty and Theft Losses: Find the Silver Lining in Dark Clouds

Update posted on August 10 2017

Five Supreme Court Decisions that Could Affect Your Business

Update posted on August 03 2017

What Business Owners Should Know about IRS Audits

Update posted on May 23 2017

Wedding Bells and Taxes: Tax Issues to Consider Before Tying the Knot

Update posted on May 18 2017

Spring Cleaning: When Can You Purge Your Old Financial Records?

Update posted on April 27 2017

AHP Promotes Staff Member to Senior Accountant

Update posted on April 11 2017

Focusing on the Construction Needs of an Aging Population

Update posted on February 02 2017

AHP Announces the Promotion of Five Team Members

Update posted on January 23 2017

Education Savings Plans Help Ease the Financial Burden of Higher Education

Update posted on January 19 2017

AHP Announces Partner Promotion in its Grand Rapids Office

Update posted on January 01 2017

IRS Announces Mileage Rates for 2017

Update posted on December 20 2016

New Overtime Rules Suspended for Now

Update posted on November 28 2016

AHP Announces Merger with Grand Rapids Firm, MAS Advisory Services, Inc.

Update posted on October 27 2016

AHP Announces Merger with Ann Arbor Firm, Miller & Associates, P.C.

Update posted on October 17 2016

AHP Announces Eight Promotions

Update posted on October 03 2016

The IRS is Warning Taxpayers About a Fake Tax Notice Email Scam

Update posted on September 26 2016

Three Tax-Smart Strategies for Giving

Update posted on August 09 2016

Have You Recently Received a Layoff Notice? What Are the First Steps You Should Take?

Update posted on August 03 2016

Should You Make a “Charitable IRA Rollover” in 2016

Update posted on July 27 2016

What the New Overtime Rules Mean to You

Update posted on June 14 2016

Understand the Tax Consequences of Selling Your Home

Update posted on May 11 2016

Unexpected Retirement Plan Disqualification Can Trigger Serious Tax Problems

Update posted on April 26 2016

The End is Approaching for Popular Social Security “File and Suspend” Strategy

Update posted on April 08 2016

Tips for Deducting Losses from a Disaster, Fire, or Theft

Update posted on March 23 2016

Deduct Home Office Expenses - If You’re Eligible

Update posted on February 09 2016

Extension Means Businesses Can Take Bonus Depreciation on Their 2015 Returns - But Should They?

Update posted on February 02 2016

File Early to Avoid Tax Identity Theft

Update posted on January 26 2016

PATH Act Provides Tax Relief for 2015 and Beyond

Update posted on December 22 2015

Tax Tip: Save, or Defer, tax by Carefully Timing Business Income and Expenses

Update posted on November 03 2015

Tax Tip: Selling Rather Than Trading in Business Vehicles

Update posted on September 29 2015

EMV Compliance: Are You Ready for the October 1 Deadline?

Update posted on August 24 2015

Teens in Your Family with Summer Jobs? Set Up IRAs for Them!

Update posted on August 11 2015

Proposed DOL Rule May Make Millions More Eligible for Overtime Pay

Update posted on July 09 2015

Proposed Changes to Not-for-Profit Financial Reporting

Update posted on June 22 2015

Why the Details Matter When Selling Investments

Update posted on June 10 2015

A Dozen Ways to Cut Taxes this Summer

Update posted on June 02 2015

It Isn’t Too Early to Begin Your 2015 Tax Planning

Update posted on April 21 2015

Still Filing a Paper Return? Be Sure You Understand the “Timely Mailed = Timely Filed” Rule

Update posted on March 31 2015

Yes, There’s Still Time to Make a 2014 IRA Contribution

Update posted on March 24 2015

Make Sure You Have Proper Substantiation for Your 2014 Donations

Update posted on February 26 2015

Not-for-Profit Guidance in Effect: Services Received from Personnel of an Affiliate

Update posted on January 19 2015

IRS Announces Mileage Rates for 2015

Update posted on December 17 2014

Review Gains and Losses Now to See if Action is Needed by Dec. 31

Update posted on December 02 2014

2015 Limits for Retirement, Social Security, and HSA’s Announced

Update posted on November 21 2014

AMT Triggers Could Boost Your Tax Bill if You’re Not Careful

Update posted on October 22 2014

AHP Promotes Staff Member to Senior Accountant

Update posted on October 08 2014

Shellshock Vulnerability: Businesses Should Continue to Monitor

Update posted on October 01 2014

Watch Out for the Wash Sale Rule

Update posted on September 26 2014

How to Protect Yourself from Underpayment Penalties

Update posted on September 09 2014

Is Your Business Ready for Play-or-Pay?

Update posted on September 04 2014

Michigan Minimum Wage Increases to $8.15 Effective September 1, 2014

Update posted on August 20 2014

“Bunch” Miscellaneous Itemized Deductions to Reduce Your Tax Bill

Update posted on August 13 2014

Give and Receive with a Charitable Remainder Trust

Update posted on July 23 2014

Higher Education: New Uniform Guidance from the Office of Management and Budget (OMB)

Update posted on July 09 2014

If You’ve Put Your Home on the Market, You Need to Know the Tax Consequences of a Sale

Update posted on June 25 2014

Contractors: Stay On Top of Lower Unemployment Trends

Update posted on June 18 2014

Consider the Sec. 83(b) Election to Save Tax on Restricted Stock Awards

Update posted on June 17 2014

Pension Protection Act (PPA) Restatement Guidance

Update posted on May 22 2014

Heartbleed Bug Causes Vulnerability

Update posted on April 15 2014

Tax Return Fraud Targets Healthcare Professionals

Update posted on April 14 2014

New Public Pension Accounting Rules Set to Go into Effect for Governmental Employers

Update posted on March 26 2014

Treatment of Adjunct Faculty Addressed Under Affordable Care Act’s Final Rules

Update posted on February 28 2014

Cloud Computing: What is it all about?

Update posted on January 30 2014

IRS Warns of Tax-Related Scams as Filing Season Approaches

Update posted on January 27 2014

AHP Announces Partner Promotion

Update posted on January 21 2014

2014 Pension Limits and Thresholds

Update posted on January 06 2014

Have you Received a Form 1098-T Penalty Notice?

Update posted on November 25 2013

IRS Introduced Fast Track Settlement Program to Assist Small Businesses Under Audit

Update posted on November 18 2013

Annual Inflation Adjustments Announced by the IRS

Update posted on November 15 2013

IRS Announces 2014 Pension Plan Limitations

Update posted on November 15 2013

FSAs Just Got a Little More Flexible

Update posted on November 13 2013

AHP Celebrates 20 Years in Business

Update posted on November 07 2013

COSO’s Internal Control Framework Gets Updated

Update posted on November 06 2013

Carrie Hindmon Article Featured in the October 2013 Issue of GLBM

Update posted on October 25 2013

Important IRS Regulation Changes Regarding Tangible Property

Update posted on October 25 2013

IRS Delays Start of 2014 Tax Season

Update posted on October 24 2013

The Impact of the Supreme Court’s Ruling on DOMA

Update posted on October 18 2013

Deadline Approaching for Employers to Provide Notice to Employees on Health Insurance Marketplace

Update posted on September 24 2013

IRS Issues Report on Colleges and Universities Compliance Project

Update posted on July 25 2013

Duane Reyhl Article Featured in June 2013 Issue of GLBM

Update posted on June 04 2013

IRS Reverses Position on OREO

Update posted on March 06 2013

Beware of Scam Targeting Corporations in Michigan

Update posted on February 28 2013

A Reminder to Beware of Phishing Scams in the Form of Emails Claiming to be from IRS.gov

Update posted on February 22 2013

2013 Pension Limits and Thresholds

Update posted on January 08 2013

Highlights of the American Taxpayer Relief Act of 2012

Update posted on January 07 2013

Payroll Tax Changes for 2013 and Other Matters

Update posted on December 20 2012

IRS Sets Effective Date for Repair vs. Capitalization Regulations

Update posted on December 17 2012

IRS Increases the Standard Mileage Rate

Update posted on November 26 2012

Duane Hershberger Article Featured in November 2012 GLBM

Update posted on November 08 2012

Community Banking Advisor Fall 2012

Update posted on November 08 2012

Healthcare Act Tax Changes Affecting Individuals in 2013

Update posted on October 12 2012

The Benefits of Making Gifts Before 2013

Update posted on October 05 2012

Regulatory Changes Affect More Than Just Compliance

Update posted on September 26 2012

Income Tax Changes for Michigan Businesses

Update posted on September 26 2012

Proposed New Rules on Appraisals

Update posted on August 30 2012

The Consumer Financial Protection Bureau Strikes Again

Update posted on August 23 2012

Flood Insurance Rule Changes

Update posted on August 02 2012

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