Quarterly Tax Estimates Due September 15 (9/2)
It’s hard to believe summer is coming to a close and Labor Day is upon us! This means 3rd quarter estimates are coming as well – due on September 15th. Watch this week’s video for a quick message about these quarterly estimates.
We wish you a relaxing Labor Day weekend!
Everyday Millionaires Part 3: Final Thoughts & Takeaways (8/26)
We are wrapping up our summer book club with a discussion on the myths many people believe about wealthy people! How many of these have you believed and how can you shift your mindset to make room for growing wealth?
Thanks again to Exit Realty Paramount for allowing us to film in their office space!
We hope you’ve enjoyed this summer book club. Here’s to continued learning this fall!
More information on compound interest and charts:
https://www.ramseysolutions.com/retirement/how-does-compound-interest-work
Everyday Millionaires Part 2: Perspectives from a Financial Advisor (8/19)
This week our guest is financial advisor and author, Debbie Craig of Craig Wealth Advisors. She and Jon have a packed discussion about Debbie’s book, Piece by Piece – a practical approach to generating retirement income, her perspective on planning for retirement, and how it relates to the strategy in Everyday Millionaires.
We love this down-to-earth exchange that is full of valuable takeaways!
You can learn more about Debbie Craig and Craig Wealth Advisors at https://craigwealthadvisors.com/
Or by phone at 231-943-2920.
Everyday Millionaires: Introduction (8/12)
This week we continue in our Intrust CPA Summer Book Club with August’s selection: Everyday Millionaires by Chris Hogan. Packed with real-life stories of everyday people who have made smart choices that pay off in the long haul, Everyday Millionaires is not only inspiring but also an actual outline of a strategy that works.
We invite you to read with us this month!
Thanks to Exit Realty Paramount for allowing us to film in their beautiful office overlooking West Bay in Traverse City!
Planning for Tax Changes: Estate Tax (8/5)
This video is the third in a series of conversations between Jon and Jeff regarding tax changes and how they may affect you.
Today Jon and Jeff tackle Estate tax, and the possible changes coming soon. They show us how the proposed changes to the Estate Tax, now being debated in Congress, would cause the Estate Tax to affect a much wider group of people than it currently does and what to do about that.
Get Your Life Back Part 3: Practical Steps with Shannon DeBruyn (7/29)
Shannon DeBruyn joins us in this week’s video as we talk about practical steps to take after reading Get Your Life Back by John Eldredge. Shannon gives helpful insights from the professional world into how to put some of these elements into place.
Shannon DeBruyn is an attorney, facilitator, and consultant, and as part of the business she and her husband own, Advance Resources and Consulting, she has consulted with Fortune 100 companies. She can be reached at 231-360-3407 and shannon@advancerandc.com
Get Your Life Back Part 2: Coaching with Shea Petaja (7/22)
This week we sit down with Shea Petaja to pull out four strategies from the book Get Your Life Back by John Eldredge. We unpack the buzz word, “self care,” talk about healthy habits to adopt and a few things in between. You don’t want to miss this valuable conversation.
Shea Petaja, CXO & Radio Show Co-host of Prout Financial Design is also a certified Life Coach with a thriving private practice. You can find her online at www.sheapetaja.com.
Get Your Life Back: Introduction (7/15)
This week we continue in our Intrust CPA Summer Book Club with July’s selection: Get Your Life Back by John Eldredge. We are digging into why this book is perfect for this time in our world – coming out of the pandemic and a hard year in general. Even those of us who consider ourselves resilient may be surprised at how we can benefit from intentional soul-care, and how that can positively influence our work and personal life.
Top 7: Fun 4th of July Facts (7/2)
We are keeping things light this fourth of July weekend! How many of these fun facts do you know?
From the food Americans love to consume on the 4th to details of the historic signing of the Declaration of Independence, these might surprise you!
Share with your friends and family this weekend, and of course have a safe and happy 4th of July!
Dare to Serve Part 3: Final Thoughts & Takeaways (6/24)
The Intrust CPA Summer Book Club is in full swing! In the month of June we are reading Dare to Serve by Cheryl Bachelder. Dare to Serve follows Cheryl’s journey as the CEO of Popeye’s Louisiana Kitchen. She and her leadership team turned the company around in 8 short years using servant leadership principles as their guide.
In this video, Jon and Lauren give six takeaways from the book and how you can put some of the principles to work – even if you haven’t read the book.
This is the third and final video in the Dare to Serve series.
For additional book resources, click here: https://www.cherylbachelder.com/resources/
** We want to hear from you! What were YOUR biggest takeaways from this book? Share with us in the comments! **
Dare to Serve Part 2: Interview with Jason VanBrocklin (6/17)
Today we welcome Jason VanBrocklin, President of Nealis Engineering. Jason’s name came to the top as we thought about the themes of Dare to Serve, and his discussion with Jon is filled with golden nuggets.
This interview serves as a case study and proof that these concepts really work!
We talk about:
– what makes a good and bad leader
– how having a purpose in your business and a clear destination makes all the difference
– learning from mistakes and much more
You are going to go away from this video with concrete examples of how to lead in a way that will empower your team, allow individuals in your team to operate in their strengths, and ultimately reach the goals you have set forth.
For more information on Nealis Engineering, you may visit their website at: https://nealisengineering.com or call 231-933-0510.
Dare to Serve Part 1: Why Dare to Serve? (6/10)
Welcome to the Intrust CPA Summer Book Club! In the month of June we are reading Dare to Serve by Cheryl Bachelder. Dare to Serve follows Cheryl’s journey as the CEO of Popeye’s Louisiana Kitchen. She and her leadership team turned the company around in 8 short years using servant leadership principles as their guide.
In this video, Jon and Lauren share why you want to read this practical and inspiring book whether your leadership role is in the home, in a non-profit or in a workplace.
This is the first of three videos in the series.
Planning for Tax Changes: Capital Gains (6/3)
Today’s video is the second in a series of conversations between Jon and Jeff regarding tax changes and how they may affect you.
In this video, Jon and Jeff discuss how the proposed tax laws may affect capital gains. From selling a business to selling a property, proposed changes in the tax law could mean a significant increase in taxable income. These discussions are only preliminary, and some say the proposed changes won’t happen, however, it is worth considering as they could put some individuals into a tax bracket they may not have anticipated.
In upcoming conversations, we’ll delve deeper into the topics, how you may be impacted and some of the planning you may be able to do now in anticipation of what is to come, so please stay tuned for those.
We Set This Day Aside to Remember (5/27)
Today’s video is a special tribute to the soldiers who gave their lives protecting our nation. It is also a tribute to their families and comrades, who are constantly reminded of their sacrifice.
Every Memorial Day, except for last year due to COVID, people have gathered at the Grand Traverse Area Veterans Memorial in Traverse City to reflect on and remember the true price of freedom.
Taps plays, the Gettysburg Address is read, and a speech is given.
A wreath is laid and the 21-gun salute is fired.
A local high school band plays, or a chorus sings the Star-Spangled Banner.
It is a short but important ceremony.
Since we couldn’t gather last year, we wanted to encapsulate that ceremony in a short video this year entitled, “We Set This Day Aside to Remember.”
Introducing: 2021 Intrust CPA Summer Book Club (5/20)
The summer months are perfect for fitting in a little more reading! That’s why Intrust CPA is hosting a summer book club – to continue learning and growing in the areas of leadership, slowing down/self-care and money management.
Each month we will focus on a different book, with three videos:
Video 1: Introduction to the book
Video 2: Interview with someone we feel embodies the theme of the book
Video 3: Book recap and discussion on the theme
We kick off with our first video, Thursday, June 10th. Even if you don’t read the books, we hope you’ll glean valuable insights from the videos!
We’ll be reading:
- June – Dare to Serve by Cheryl Bachelder
- July – Get Your Life Back by John Eldredge
- August – Everyday Millionaires by Chris Hogan
We would love to gift you these three books so you can read along with us! If you are interested in taking us up on this, please email info@intrustcpa.us, and we’ll get you squared away!
Business Spotlight: PlantMasters of Suttons Bay (5/13)
This week we welcome Tina Van Thomme, the owner of PlantMasters of Suttons Bay as we continue in the Business Spotlight series. From dealing with workforce fluctuations due to COVID, to witnessing first-hand the amazing support from her customers, Tina discusses COVID and how it impacted her business.
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ABOUT THE BUSINESS SPOTLIGHT SERIES: At the end of August last year, we sat down with several area business owners and discussed the challenges of business in general and specifically the challenges of doing business during COVID.
Our initial video, (https://www.youtube.com/watch?v=cPQkN6vgl70), was a highlight on what everyone had to say about COVID.
With so many great insights to share, had we included the full original interviews, the video would have been several hours long. However, we couldn’t pass up the opportunity to share some of the more in-depth discussions and insights that we learned.
You can learn more information about PlantMasters of Suttons Bay by visiting their website here:
https://plant-masters.com/
Their phone number is: 231-271-4769
Planning for Tax Changes - Conversations with Jon and Jeff (5/6)
Well, it’s not official, but word on the street is that there has been a little money spent by the government over the past few months and that they may need to start paying for that. And what does that mean? Taxes.
Today’s video is the first in a series of conversations between Jon and Jeff regarding tax changes and how they may affect you.
In this video, Jon and Jeff provide an overview of pending tax legislation and point out a few of the aspects you should be aware of. In upcoming conversations we’ll delve deeper into the topics, how you will be impacted and some of the planning you may be able to do now in anticipation of what is to come, so please stay tuned for those.
Business Spotlight: Comfort Keepers (4/29)
At the end of August last year, we sat down with several area business owners and discussed the challenges of business in general and specifically the challenges of doing business during COVID.
Our initial video, (https://www.youtube.com/watch?v=cPQkN6vgl70), was a highlight on what everyone had to say about COVID.
With so many great insights to share, had we included the full original interviews, the video would have been several hours long. However, we couldn’t pass up the opportunity to share some of the more in-depth discussions and insights that we learned.
Join us today as we continue this series. This week we hear from Russ and Leslie Knopp, owners of Comfort Keepers. We know their story of navigating COVID-19 in their business will be inspiring to you, and confirms the pride we have in being a part of this hardy Northern Michigan community.
You can learn more information about Comfort Keepers by visiting their website here:
https://www.comfortkeepers.com/offices/michigan/traverse-city
Their phone number is: 231-929-9044
A Tool to Keep Your Computers Running Smoothly (4/22)
You may be wondering why we are talking computers today! This may seem out of the ordinary, but hear me out. If you’re a business owner, you likely know the pain of a computer update running at an inconvenient time, a virus or malware causing problems for your computers or a computer crashing and you losing data.
In today’s video we talk with Stan from Insight Digital about a tool used to mitigate those inconveniences so your business can run smoothly and with as little downtime as possible. Because we all know – time is money, and we want to make our work time as productive as possible.
Even though this video was made with businesses in mind, it applies to individuals as well – no one wants to be without their computer for longer than they need to be.
For more information on RMM from Insight Digital, please contact Stan at 231-421-3553.
2021 Tax Day Update (4/15)
Happy Tax Day… sort of! Take 2.5 minutes to make sure you know what you need to about filing and paying 2020 taxes and an important reminder about 2021 first quarter estimates.
Important:
2020 Tax Day: May 17th
2021 1st Quarter Estimates are still due April 15th
Please give us a call if you have questions, we’re here to help.
Business Spotlight - Image360 (4/8)
Continuing in our Business Spotlight series, this week we are hearing from Andrew Kohlmann, owner of Image360.
Andrew not only shares the progression of their business since 2008, but also many wise takeaways on being a business owner, changing directions and coming out of this Pandemic stronger.
This interview is packed with golden nuggets that will encourage and inspire you.
You can learn more about Image360 here: https://traversecitymi.image360.com/
Their phone number is: 231-933-7446
This Week: Happy April 1st! (4/1)
In today’s video, we take a step back from the normal to do something a little different.
We hope you enjoy the video – Happy April 1st!
Please join us next week as we release our interview with Andrew Kohlman from Image 360. We discuss navigating COVID, adapting to changes, and timely advice Andrew has for business owners. It is a video you won’t want to miss!
Employee Retention Credit - The Forgotten Tax Credit (3/25)
Today, Jon Sluis of Intrust CPA and Andrew Nichols of Integrated Payroll will be discussing the Employee Retention Credit (ERC). While many business owners are familiar with, and may have applied for, the PPP Loan, it is possible that they may also now qualify for the ERC.
The ERC is available for 2020 and 2021, but the qualification criteria are different.
Jon and Andrew will discuss the details of the ERC, who qualifies, and what has changed from 2020 to 2021. This topic is very important as businesses who fail to take advantage of this program may be leaving money on the table.
What's In It? The American Rescue Plan Act of 2021 Overview (3/22)
In today’s video, Jon will be discussing the recently passed American Rescue Plan Act of 2021.
This third stimulus plan is packed full of programs that clients need to be aware of. From the expansion of the Child Tax Credit to Unemployment Relief, this bill is immense!
Additionally, Jon will discuss how it is important to start planning now for the consequences of this bill. We’re into our third stimulus, trillions of dollars have been spent, and there’s going to be a cost. Does that mean taxes will go up? Jon will discuss that possibility as well as how it affects tax planning.
For your convenience, we’ve provided links to specific parts of the video that might be of interest to you. We encourage you to watch the full video, as some benefits in this bill might apply to you.
If you have questions regarding how this bill will affect you, please talk to your accountant or give us a call. We’re here to help.
Download Intrust CPA’s “American Rescue Plan Act of 2021” Overview here.
Jump to Specific Topics (Clicking links will take you to YouTube):
02:07 – Individual Tax Relief
06:08 – Unemployment Relief
08:55 – Child Tax Credit
13:36 – Earned Income Tax Credit
14:48 – Dependent Care Assistance
16:26 – Exclusion of Forgiven Student Loans
16:47 – Employer Tax Relief
17:17 – Premium Tax Credits
18:13 – Employee Retention Credit
18:58 – What do we do now?
Breaking News - Tax Day Moved! ... Or Has it? (3/18)
The IRS just announced that the tax filing deadline for individual 2020 federal income tax returns has now been moved back from April 15th to May 15th. While this may provide some relief to taxpayers (and accountants!) on filing taxes, there is more to think about than just filing your return.
There are some specifics to this extension move that have yet to be determined (such as deadlines for contributions to IRAs and HSAs or the impact on state tax returns). AND – first quarter 2021 tax estimates are still due April 15.
If you have questions regarding this development, please give us a call. We’re here to help!
Join us on the video to get further details.
American Rescue Plan – First Look (3/11)
In today’s video, Jon will be giving a first precursory look into the American Rescue Plan (ARP):
• how it might affect you and
• how it might impact tax filing and tax planning.
While technically, as of this posting, it has not been signed into law, we believe it will be and want to start planning accordingly.
There is a lot of information to unpack from this bill. We will be coming to you next week with a more thorough review of the ARP. Today we come to you with a few things you may want to consider yet this week!
Jon discusses the third Economic Incentive Payment (think Individual Stimulus), tax treatment on unemployment, and what these recent developments mean to the 2020 tax season filings.
This package is full of additional provisions that will impact your finances – both individuals and business owners. We are just hitting the tip of the iceberg today. Watch for more to come.
If you have any questions about whether you qualify or what tax strategies you should be considering regarding ARP, please give us a call. We’re here to help. Stay tuned next week for a deeper dive into this legislation.
Conversations: An Interview with Brian Ursu, CFP (3/4)
Over the past few months, we’ve had the opportunity to sit down and discuss important topics with a variety of area professionals. These conversations are intended to pass on knowledge and perspectives from a broad group of qualified individuals.
Today Jon is joined by Brian Ursu, the President and founder of Intentional Wealth Advisors in Traverse City. Brian Ursu is the author of “Now What? A Practical Guide to Figuring Out Your Financial Future” and offers a weekly podcast called “Weekly Market Commentary”, which you can listen to here: https://www.intentionaladvice.com/weekly-market-commentary/.
Jon and Brian discuss various aspects of writing the book, the weekly podcast, and how important it is to have the right professional advisors in your life.
For more information on Intentional Wealth Advisors, visit their website at http://www.intentionaladvice.com or call them at 231-933-0846.
To order “Now What? A Practical Guide to Figuring Out Your Financial Future” click here.
Listen here:
Webinar Library
Tax Season Update: Reminders & Refunds (2/25)
Today Jon brings another monthly update from the trenches here at Intrust CPA.
As the tax season rolls on, we wanted to remind people of a few things:
On our organizer and the tax return itself, you will see the stimulus checks referred to as the Economic Impact Payment. We often refer to it as just the Stimulus or Stimulus check – that’s what it is, but the technical name is Economic Impact Payment.
Regarding Notice 1444: Many people were not aware they were supposed to keep these letters. If you have it – great! If not, its not a big deal. We can actually work through the calculations.
Please don’t feel like you need to wait until you have all your information before brining in your tax information. Instead, wait until you have the bulk of your information and then let us know what you’re waiting for. That way we can get started and watch for the remaining documents.
Lastly, the IRS changed the form for withholding. We’re noticing that some individuals are getting less of a refund than they might have expected. This is due to the fact that the IRS wanted individuals to have cash during the year. So, if you filled out the W-4 correctly the end goal is that you do not receive a refund.
If you have questions about your refund, or any of these topics, please don’t hesitate to ask.
During the tax season we’ll be releasing short update videos as we go along, keeping you up to date on issues and developments that might affect you.
Business Spotlight: Common Good Bakery (2/11)
At the end of August last year, we sat down with several area business owners and discussed the challenges of business in general and specifically the challenges of doing business during COVID.
Our initial video, (https://www.youtube.com/watch?v=cPQkN6vgl70), was a highlight on what everyone had to say about COVID.
With so many great insights to share, had we included the full original interviews, the video would have been several hours long. However, we couldn’t pass up the opportunity to share some of the more in-depth discussions and insights that we learned.
This week’s video is from Jason Gollan, Chef and Owner of Common Good Bakery in Traverse City.
He offers perspectives on conducting business in a responsible manner, from how he treats employees to how his guests are treated when they walk in the door. Additionally, Jason offers advice for new business owners and explains why “Common Good” is so important to his business.
You can learn more about Common Good Bakery here:
https://www.commongoodbakery.com/
Their phone number is: 231-933-8002.
Tax Season Update - Second Stimulus and 2020 Taxes (2/4)
In today’s quick update, Jon discusses the second stimulus check and how it impacts your 2020 taxes.
During the tax season we’ll be releasing short update videos as we go along, keeping you up to date on issues and developments that might affect you.
How to Follow a Simple Spending Plan (1/28)
In today’s video Jeff and Tina Wood will be discussing tools they use that help them live within the framework of a spending plan.
As mentioned in previous videos, budgets and spending plans have to be realistic and simple in order to offer the best chance of success. Today’s video demonstrates this principle using an app called Good Budget.
While Jeff and Tina share tips and tricks they have found to implement a realistic spending plan through the use of Good Budget, there are many other apps available out there.
Intrust CPA does not specifically endorse and is not sponsored by Good Budget.
We encourage you to explore the many great budgeting tools and services available – but whatever you use, we encourage you to find a system that works for you!
LLC Registration Reminder (1/21)
Today’s video is a quick reminder to renew your LLC Registration online at www.michigan.gov/lara.
Michigan companies need to register by February 15th, 2021.
If you’re unsure where to go or if you need to file, please contact our office.
What you need to know: 1099-NEC (1/14)
In today’s video, Jon discusses the changes in the 1099 form for 2021. Unlike past years, this year a new form has been created to track Non-Employee Compensation.
If you paid a non-employee $600 or more, you need to send out the new 1099-NEC on or before January 31st, 2021.
TIME SENSITIVE – Second Round PPP Loan Information (1/11)
Today we bring you important time sensitive, information regarding the Second Round PPP loan…Yes – another potentially available round of stimulus dollars. From verifying quarterly receipts to talking with your banker, Jon discusses why you’ll want to look into the PPP as soon as possible.
If you have any questions regarding the PPP please give us a call. We’re here to help!
Setting Up a Budget - Things to Consider (1/7)
As we move into 2021 with new goals and new resolutions, many of us will take time to set up a budget for the coming year. In today’s video Jon discusses why a Spending Plan might be a better approach and what things to consider when planning out how to spend and save your money.
IMPORTANT ANNOUCNENT:
We will be releasing a more detailed video on the Consolidated Appropriations Act (CAA) – otherwise known as the Second Round Stimulus as more guidance is released. Be sure to join us as these are released!
Second Stimulus, PPP and EIDL - Quick Overview (12/31)
In today’s video we’ll discuss some time sensitive developments from the recently passed stimulus act.
This video is a quick overview, and more details are to come, but we wanted to let you know about a few key things to be aware of in the short term to ensure you maximize your access to available stimulus dollars. Specifically, we’ll discuss the stimulus check for individuals, a second (and expanded) PPP, and increases to the EIDL grant.
For questions about your specific situation, please give us a call.
PPP Round 2 and Stimulus Payment Update (12/22)
In today’s video Jon will be discussing late breaking news regarding the newest government stimulus package. He will specifically focus on the Payroll Production Program (PPP) Round 2, stimulus payments, and expense deductibility.
While the measure isn’t official as of the time of this recording, it is expected to be signed into law by President Trump on December 22nd. Jon discusses what that means to you, and some things to think about BEFORE the end of the year.
If you have questions about how this bill might affect you specifically, please don’t hesitate to contact our office.
End of Year Tax Planning Strategies (12/17)
As we approach the end of 2020, we’d like to take a moment to discuss some end of year tax strategies with you.
From charitable contributions to end of year capital purchases, smart decisions can limit your tax liability.
Join Jeff and Jon by the fire as they discuss this topic on today’s video!
On a side note, what holiday movie is that playing in the background? Comment on this video your guess!
In this time of uncertainty, we’re here to help.
To discuss your specific situation, please call us at 231-935-1590.
Making Your Side Hustle Your Main Thing (12/10)
With COVID in mind, this week we are taking the discussion outside!
Chelsea Bay Dennis from Chelsea Bay Design stopped by to discuss things to consider when starting a Side Hustle.
Entrepreneurship is a cornerstone of the American dream. From opening a retail shop to running an online store from your home, more and more people are considering leaving their 9 to 5 for the rewarding, yet challenging life of a business owner.
So how do you make your side hustle your main thing? How do you move on from the steady income of an employee without putting your finances at risk? Where do you even start?
We discuss those things and more in today’s video.
For more information on Chelsea Bay Design: http://chelseabaydesign.com/
In this time of uncertainty, we’re here to help.
To discuss your specific situation, please call us at 231-935-1590.
Election 2020: Tax Implications with Prout Financial Design (12/3)
On Thursday, November 19th, Jon Sluis sat down with Dennis Prout and Heidi Thompson on New Retirement Radio. In this behind the scene video, they discuss tax planning and tax strategies related to the presidential election and possible tax law changes.
This edited version of the radio show highlights some important considerations regarding possible tax changes, especially for those making $400,000+/year and $1,000,000+/year.
It is important not to rush to any decisions, but instead, consult with your tax planner for a strategy that takes these proposed changes into mind.
In this time of uncertainty, we’re here to help. To discuss your specific situation, please call us at 231-935-1590.
Radio Show Disclaimer: “Investment advisory services offered through Capital Asset Advisory Services, LLC a registered investment advisor. Securities offered through Geneos Wealth Management, Inc. Member FINRA SIPC.
Opinions expressed on this program do not necessarily reflect those of Capital Asset Advisory Services. The topics discussed and the opinions given are for informational purposes only and are not intended as financial, tax, accounting or legal advice, and are not intended to address the specific needs of any listener. Listeners are encouraged to discuss their individual needs with an appropriate professional.”
PPP Update - (11/20)
The IRS has released additional guidance regarding the PPP Loan. In this quick video, Jon shares his thoughts on the recent update.
If you have any additional questions about how this might affect your business, please contact our office at 231-935-1590. We’d love to discuss it with you.
Election 2020: Tax Implications - (11/12)
Today Jon Sluis and Rick Delaney discuss potential tax implications from the recent presidential election.
Regardless of who wins, it’s important to plan ahead but also not be too rash in any decision making.
If you have any questions on how this election might affect you personally, give us a call at 231-935-1590 – we’re here to help!
Ask the Experts: Wills, Trusts, & Estates - (11/5)
It’s November 5th, the election is over but the results aren’t in. As soon as the dust settles we’ll be discussing tax implications and strategies.
This week we finish our Ask the Experts, Wills, Trusts, & Estates video as Jon and Jeff welcome back Cortney Danbrook from Danbrook Adams Raymond PLC (https://darlawyers.com/).
Now more than ever it is important to make sure your information is up to date and that you have a plan in place.
Scary Accounting Stories - (10/30)
Happy Halloween! Today, in honor of the holiday, we’ve put together some scary accounting stories from our accountants.
We hope you enjoy!
Integrated Payroll 2020 Update - (10/22)
In today’s video Andrew Nichols from Integrated Payroll brings us some information regarding payroll. This information includes IRS and other government agency notifications, Form 941 Information and more.
If you have any questions about your payroll, even if you are not a client of Integrated Payroll, give the staff a call at (231) 935-0225.
Ask the Experts: Wills, Trusts, and Estates - Part 2 - (10/15)
Today Jon and Jeff welcome back Cortney Danbrook from Danbrook Adams Raymond PLC (https://darlawyers.com/) to delve deeper into wills, trusts, and estates.
From tax implications to changing family dynamics, we discuss wills and trusts in detail.
Ask the Experts: Wills, Trusts, and Estates (10/8)
Today Jon and Jeff welcome Cortney Danbrook from Danbrook Adams Raymond PLC (https://darlawyers.com/) to discuss wills, trusts, and estates and why now is the time to update your existing plans, or create new ones if you haven’t already.
While wills and trusts aren’t the most exciting things to think about, planning now can prevent a lot of hardship in the future.
We’ll discuss the difference between wills, trusts and estates, and we’ll also share some examples of what happens when things aren’t planned out correctly.
Perspectives on Running a Business During COVID-19 (10/1)
We sat down with several business owners and managers from around the area to discuss how the COVID crisis impacted their operation, and what pivots they did to adjust to the challenges.
Special thanks to:
Image360 – https://traversecitymi.image360.com/
Common Good Bakery – https://www.commongoodbakery.com/
Safe Harbor – https://www.gtsafeharbor.org/
Roaster Jack – https://www.roasterjack.com/
Plant Masters – http://plant-masters.com/
Comfort Keepers – https://www.comfortkeepers.com/offices/michigan/traverse-city/
Video produced by: Insight Digital
Additionally, thank you to Shea Petaja for her assistance in this production.
New Videos, PPP Update and Tax Planning (9/24)
In today’s video Jon will be discussing upcoming videos and an update on the Payroll Protection Program (PPP) Loan Forgiveness process.
Because of COVID, PPP and other ongoing events, we encourage you to contact our office to discuss and plan for your 2020 taxes.
We’re here to help!
Backup Solutions - Protect Your Data (9/17)
Join us today as Stan Kirby from Insight Digital joins us to discuss back up solutions.
From thumb drives and portable hard drives, to cloud backups, there are lots of options to choose from when protecting your data.
We’ll discuss the pro’s and con’s of each back up type, as well as versioning, QuickBooks backups and the difference between file backups and system images.
If you’re concerned about protecting your data and aren’t sure if you’re set up correctly, we’re here to help. Call Insight Digital at 231-421-3553 for a consultation.
Buying a Business (9/10)
Buying a business is a rewarding yet daunting task. You may find yourself having to invent solutions to overcome hurdles that you never thought would exist. When first considering a purchase, some of the best ways to lower potential hurdles is through an honest assessment of that business’s stage of its life cycle, its operating cash flow, and the quality of its assets. Your conclusions may determine just how difficult or rewarding that purchase will become. In today’s video Jon and Jeff will be discussing things to consider when preparing to buy a business, and what goes into a proper valuation.
If you have any questions on your individual situation, please call our office, we’re here to help.
Payroll Deferral Memorandum Update - Part 3 (9/1)
We’re coming to you a little early this week to discuss the guidance that was recently released regarding the Payroll Deferral Memorandum.
Jon Sluis is joined by Andrew Nichols of Integrated Payroll to discuss what he’s seeing from his clients and specifically what clients should be aware of if they decide to participate in this program.
If you have any questions on how this may affect your individual situation, please call our office, we’re here to help.
Payroll Deferral Memorandum Update (8/27)
Today Jon provides an update on the Payroll Deferral Memorandum President Trump signed as part of an executive order on August 8th. We’re only a few days from the start of this program.
While we still don’t have a lot of guidance regarding the specifics, Jon will discuss possible strategies and considerations based on the information we do have.
We will provide updates as new information is released.
If you have any questions on how this may affect your individual situation, please call our office, we’re here to help.
Wealth Transfer - Seize the Opportunity (8/20)
Today Jon and Jeff will be discussing “Seizing the Opportunity” within the wealth transfer arena (estate, trusts, and the like).
2020 has created the perfect storm and may provide significant wealth transfer opportunities.
We encourage you to consider the opportunities with us.
No one likes talking about these topics, but in today’s environment, waiting until later may not be a wise decision.
We’re here to help! If you have questions about how this bill will effect you, please contact our office.
President Trump's Executive Order - 8/13
In today’s video we’ll be taking a quick look at what we know, what we don’t know and what we need to consider regarding President Trump’s August 8 Executive Order.
At this time, there are a number of unknowns regarding the order’s specific impact and how people and businesses should prepare.
Jon discusses some of these points and breaks down the four main aspects of the order:
- Memorandum on Evictions,
- Student Loan Deferral,
- Unemployment
- and the Payroll Tax Holiday
We’re here to help! If you have questions about how this bill will effect you, please contact our office.
Working Remotely (8/6)
In today’s video, we hand things over to Stan Kirby from Insight Digital, part of the InSolutions family.
He’ll be discussing things to consider when moving your workforce offsite or when having employees work from home.
If you’d like more information about working offsite or working with Insight Digital as your IT Partner, please call their office at 231-421-3553.
You can visit their website here: http://www.insightdigital.us.
PPP Loan Forgiveness (7/23)
In this video we’ll be discussing the Payroll Protection Program loan, and whether to apply for forgiveness now or later. If you received a PPP loan – applying for forgiveness is a necessary step. But when and how do you do that? Do you do 8 week or 24 week?
Jon discusses these questions and more in today’s video.
Career Changes, Early Retirement and the Tax Implications
Did being at home make you realize how much you love family and want to be with them more? Or as an essential worker on the front lines, are you ready to call it quits? Perhaps the new normal isn’t how you want to operate as you finish your career?
Because of COVID-19, early retirement may not be something that’s five years down the road – perhaps your thinking about it now! If there is any silver lining, this might be it. Instead of waiting until this all plays out, maybe it’s time to write the ending now.
In this webinar, Shea Petaja, with New Retirement Radio interviews Jon and Jeff on what the tax implications are now vs. later. You will hear about some deductions you will want to take advantage of yet this year and a few that perhaps you should spread out. If you’re ready to stop doing what you’ve always done, together we can help you pivot to make the change happen on your terms.
Paycheck Protection Program Flexibility Act of 2020
In this webinar we discuss changes and potential strategy shifts business owners should consider regarding the PPP Flexibility Act. The PPP Flexibility Act:
• Covers a longer period of time – 24 weeks from the date of the loan’s origination (or December 31, 2020, whichever comes earlier.) This is an increase from the original 8-week coverage period, although the 8-week covered period remains an option.
• Gives businesses more time to replace full-time equivalent employees (FTEs).
• Raises the cap on using funds for non-payroll related expenses to 40% (from 25%).
We will dive into these items and more and how it might affect your business.
Additionally, we’ll discuss ways business owners can leverage these changes to their advantage, and why some businesses may not want to wait 24 months to apply for full loan forgiveness.
Breaking Updates to the PPP Loan Forgiveness Application
The forgiveness application was released by the SBA on Friday and the application and instructions provide new guidance (and further lack of guidance) in what was asked for/spelled out. It added further complexities on some things and added additional limitations that were not previously provided. It’s time to regroup, re-evaluate PPP planning already performed and work to ensure that if your company is hoping for forgiveness it will actually take place.
FAQs From Different Perspectives
This week, we’ll be presenting how the CARES Act is impacting individuals and businesses around Northern Michigan by talking with several different staff members here and hearing impressions from their point of view.
We’ll be talking with:
- Susan Tipton – InSolutions – Office Manager
- Corrine DiPisa – InTrust CPA – Staff Accountant
- Rick Delaney – Intrust CPA – Tax Accountant
- Andrew Nichols – Integrated Payroll – Operations Manager
Things to Consider as Reopening Approaches
This week on the webinar, we’ll explore things to consider as reopening approaches, including:
• renewed demands on cash flow
• phasing in employees who are returning to work
• considerations for customer contact
Additionally we will answer some questions we’ve received regarding more specific CARES circumstances.
Please stay tuned as new videos are coming in the Invision Series.
Payroll Protection Program Loan Considerations and More
This week we will dive a little more into the Payroll Protection Program loan forgiveness considerations:
• What we know
• What we have a good idea on
• What we don’t know (but hope to get more clarification on in the coming weeks)
We’ll also touch on
• Things to consider when ramping back up / calling back employees
• Use of the low tax rates
• “Just because you can, doesn’t mean you should” regarding ability to defer RMD and ability to access retirement funds
At the end of the video we’ll answer questions we’ve been frequently asked.
Moving Forward in this New Reality.
Reality may be setting in for you. Perhaps you are feeling some fatigue as you try to figure these details out. We are now entering the implementation phase – taking what we know and taking action to move forward. This week we will discuss:
• The Unemployment process
• More detailed Paycheck Protection Program (PPP) uses
• Other updates and practical guidance
Some additional links to help with Unemployment Insurance:
UIA Director Steve Gray Answers FAQs about unemployment benefits
It’s All In the Details &
Self Employed
Today Jon and Jeff discuss the Recovery Rebate Credit, how this is the week of self employed, unemployment issues and the Business Incentive roll out.
Stay tuned to the end where Jon and Jeff answer some questions from our clients.
Alphabet Soup - PPP / EIDL / ERC
Join us as we discuss the various CARES loan programs that are available for small business. We’ll make sense of the many acronyms and provide advice for what to business owners should consider when choosing the right course of action.
Payroll Protection Program (PPP), Economic Injury Disaster Loan (EIDL), Employee Retention Credit (ERC), and Payroll Tax Holiday
CARES & You – Impact of the CARES Act
Congress has passed the $2 trillion, 883-page bill, called the “CARES Act” – a stimulus package that will have direct and lasting impact on each of us.
This bill impacts individuals and businesses alike in immediate ways, so we want to make sure you know what to expect without having to read 883 pages.
This webinar addresses some of the main points of the bill that will impact you.
Implications of:
COVID-19 & Stay Home, Stay Safe
This Webinar is for business owners and key management individuals. Even if you are self employed or the company’s only employee, put on your “employer” hat today while watching this video. And in that context and throughout today’s discussion, one of the key principals to keep in mind – “Do what is right for the long term success of the business”.
Impact of:
Families First Coronavirus Response Bill
Last night Jon and Jeff held a brief webinar to discuss the potential impacts the Families First Coronavirus Response Bill might have.
Take a look and let us know if you have any questions.
We’d like to remind everyone that this is a fluid situation, subject to change. For specific advice related to your circumstances, please contact us. We’re here to help.