Houston CPA firm Doeren Mayhew has added Clark Whitley to its Business Development team.
With more than 15 years’ experience in business development and marketing, Whitley brings extensive knowledge in tactical and strategic business planning, sales, client relations management and much more. A graduate from Franklin Pierce College, Whitley previously worked for Vaco Houston where he created a new division with a... more
If you’re self-employed, you may be able to set up a retirement plan that allows you to make much larger contributions than you could make as an employee. For example, the maximum 2014 employee contribution to a 401(k) plan is $17,500 — $23,000 if you’re age 50 or older. Look at how the limits for these two options available to the self-employed compare:
Profit-sharing plan - The 2014 contribution limit is $5... more
When you think about what’s tying up your available dollars, a variety of culprits may come to mind. Perhaps you’re servicing a substantial amount of debt, waiting for some past-due customer payments or dealing with elevated material costs. But one perpetrator of cash-flow crises that often goes overlooked is the piece of paper you sign in advance of every job — the contract.
Construction contracts, or rather the... more
by Bill Leary, Director, Doeren Mayhew
Most U.S. taxpayers with foreign financial accounts or foreign businesses are responsible for providing information to foreign financial institutions on their offshore investments, and under agreements with the United States, foreign financial institutions are now attempting to determine whether accounts are classified as U.S. accounts. The international tax accountants at Doeren ... more
At the beginning of 2013, many tax rates and breaks were made permanent. The increased uncertainty brought by these tax law changes has in some ways made tax planning in 2014 a little easier, but with these changes also came tax hikes to many higher-income taxpayers. Read more below, and download our 2014 Tax Planning Guide to get started.
Tax Increases for High-Income Taxpayers
Increases include the return of the 39.... more
Doeren Mayhew has announced the promotion of Michigan CPA, Andrew Kasischke, to manager within its Troy, Mich. office.
Effective Oct. 1, 2014, Kasischke will assume a new position as a manager within the firm’s Accounting, Audit and Assurance Group. Since beginning his career with the firm more than 5 years ago, he has provided audit and assurance services to a broad range of globally based manufacturers, construct... more
In August, nearly 70 percent of Michigan voters cast their votes at the polls in support of Proposal 1, approving Michigan’s personal property tax (PPT) reform.
Boosting Michigan’s Economy
Designed to help Michigan’s communities and businesses create a more competitive environment for jobs and growth, the reform package includes an exemption for small businesses and manufacturers’ personal property, as well as a... more
With year-end fast approaching, now is a good time for business owners to start thinking about what direction to take in their tax planning. If you’re involved in “qualified production activities” and looking for a smart route to potentially lowering your tax bill, be sure you consider the Section 199 deduction, known as the "manufacturers' deduction."
Section 199 Benefits More Than Manufacturers
As you can probab... more
On Sept. 24, 2014 the Internal Revenue Service (IRS) issued a fraud alert affecting all international financial institutions complying with the Foreign Account Tax Compliance Act (FATCA). In an effort to receive highly-sensitive information of account holder’s identity and financial information, scam artists are posing as the IRS across the globe.
It is important to remember that the IRS does not require financial ... more
Houston construction CPA Mike Kuchar, a shareholder at Doeren Mayhew, recently became certified through the Institute of Certified Construction Industry Financial Professionals.
With more than 15 years’ experience in public accounting, Kuchar leads Doeren Mayhew’s Construction Group in Houston and works with general contractors and subcontractors with annual revenues as large as $1 billion a year. In his role, he p... more