Add Your Blog | | Signup
Robert F Murray and Co. · 1W ago

What Considerations Should be Made in Drafting Buy-Sell Agreements?

By: Heather I-D Graham, CPA, CVA Drafting Buy-Sell Agreements requires that special consideration be given to a number of special rules that affect valuations for estate and gift tax purposed.  For example, options to acquire property at less than FMV and restrictions on the right to sell property a
0 Vote Up · Share
Robert F Murray and Co. · 2W ago

2013

Written by: Keith Frame, CPA We haven’t talked much about it. We have not yet done much planning in consideration of it. I think most of us CPAs believed it would never come to be (and still don’t in some cases). But the year 2013 is set to usher in a wave of tax increases [...]
0 Vote Up · Share
Robert F Murray and Co. · 3W ago

Flow-Through Withholding Law: Some New and Some Old

Written by: Scot Smith, CPA NEW MICHIGAN CORPORATE INCOME TAX (CIT) EFFECTIVE JANUARY 1, 2012 With the new Michigan Corporate Income Tax replacing the old Michigan Business Tax effective January 1, 2012 we want to inform you of a new law regarding flow-through income tax withholding responsibilities
0 Vote Up · Share
Robert F Murray and Co. · 3W ago

Get Your Quickbooks File Up-to-Date

Written by: Lisa Whyte, CPA If you use QuickBooks, you understand that we use your data to prepare your tax return.  You may not realize that we don’t simply take your numbers and use them as is.  We typically verify the accuracy of your accounts.  We frequently need to make some adjustments to corr
0 Vote Up · Share
Robert F Murray and Co. · 1M ago

Time to Write Off the Old GM Stock

The old GM stock (more recently being traded as MTLQQ) stopped trading on the pink sheets in 2011, so now investors are allowed to take the loss on their 2011 tax returns. If you have already filed your return but have a loss you would like to take, we can certainly help you amend that [...]
0 Vote Up · Share
Robert F Murray and Co. · 1M ago

Michigan Unemployment Tax Credit

Written by: Annette Clark, CPA You may be eligible for a Michigan Unemployment Tax Credit. To determine if you are eligible for the Michigan Unemployment Tax Credit you need to locate your “actual reserve” balance as of June 30, 2010 as shown on your 2011 Michigan Unemployment Annual Tax Rate Determ
0 Vote Up · Share
Robert F Murray and Co. · 1M ago

Ask the Financial Planner…TONIGHT!

Our very own Mike Harter will be hosting the Ask the Financial Planner show on the CMU Public Broadcasting channel tonight at 7:30 p.m. If you would like to participate by asking questions, you can do so the following ways: 1.  Call in and speak to our phone volunteers from 7:30pm-8pm during our liv
0 Vote Up · Share
Robert F Murray and Co. · 2M ago

Worker Classification Issues…The Battle is Still Being Waged

Written by: Michael P. Riley, CPA Worker classification cases have been a bone of contention for the IRS for many decades and still are.  Businesses that hire workers as independent contractors save money on federal and state employment taxes.  Determining whether a worker should be treated as an em
0 Vote Up · Share
Robert F Murray and Co. · 2M ago

Use Your Tax Refund Wisely

If you are one of the millions that receive a sizable tax refund every year, why not use the extra money to help out your personal balance sheet.  Here are some ideas for your refund that will be more beneficial than just spending it on whatever… Use the cash to pay down your debt.  Reduce [...]
0 Vote Up · Share
Robert F Murray and Co. · 2M ago

The New Michigan Corporate Income Tax

Written By: Tina Powell, CPA Most of you may have heard that there is a new tax in town.    Effective January 1, 2012, the Michigan Corporate Income Tax (CIT) replaces the unpopular Michigan Business Tax (MBT.)  It is estimated that it will relieve 95,000 Michigan businesses from the burden of filin
0 Vote Up · Share
More Stories