Month: December 2016

10th Annual Military Appreciation Drive FREE Tax Preparation for Active Military Troops

Collins Accounting & Tax Service will be preparing FREE income tax returns for the 2016 income tax filing year for all active duty military. That includes all branches of service, including Army, Navy, Marines, Air Force, Coast Guard and all active national guards, and reservists. (A small processing fee may apply). This is the 10th year we have been preparing tax returns for active military troops.

This event will run until April 17, 2017.

This is a way in which we can give back and say thanks to the men and women who so bravely volunteered to serve and defend our country and our freedoms.

If you know someone who can use this service please tell them to contact Collins Accounting & Tax Service. We have prepared tax returns for troops all over the world.

The troops can email through a secure site, fax or mail their information to us and we will prepare their taxes.

We, as a company, feel that we have a voice and that using our voice in this manner will help in a small way for those who have and will do their part to ensure our safety and freedom.

Please contact us today!! We are located in Lambertville at 3352 Dean Road, or call us at 734-854-2926, visit our website at www.collinstaxpros.com or email us at Collins@1040.com.

Join Flick’s in bringing in the New Year!

Flick’s has exciting things happening in 2017. Tastings In-Store and Out of Store, Flick’s will be participating in events around town and so much more. Don’t forget to get all of your game day needs from Flick’s along with your adult sore throat remedies. Flick’s first wine tasting dinner will be in February, keep your eyes out for more details. HAPPY 2017 from the Flick’s Family to Yours!

Habitat for Humanity Restore Donation Drop-Off

Habitat for Humanity will be doing a restore donation drop-off on Saturday, January 21 from 8am-noon. The Habitat truck will be in the old Foodtown Parking Lot (on the corner of Sterns and Secor). The Habitat ReStore is here to help you finish off your spring cleaning! Acceptable donations: furniture, appliances, building supplies, tools, windows, flooring, hardware and more. Please no clothing or home goods. Donations must be gently used (we cannot accept broken or stained items). All donations will be sold at the Habitat ReStore with the funds helping to cover the costs of the next Habitat home in Bedford!

Questions? Contact the ReStore at 734-243-1108.

Am I covered for this?

By Jerry Barron – Owner, Barron Insurance 

In last month’s issue of “Am I covered for this”?  we discussed how the home policy responds to frozen pipes.  This month we will look at another one of old man winters problems- Ice dams on your roof.  Who doesn’t like to see a 6’ icicle coming off a roof or downspout or several icicle’s coming off the home in some manner or another.  Just be careful because these beauties can put your eye out, just ask Ralphie from A Christmas Story!

All kidding aside what is happening and going on with your roof is heat escaping which causes the snow or ice to melt that is on the roof and then when the temperatures go down to 10 degrees during the night all this melting turns to ice.  Unfortunately, this ice as it melts and turns into water can somehow get under your roof shingles and over the course of time can rot the wood under your shingles and could eventually cause a leak in your home.  You will sometimes see stains on the ceiling where something like this happens.  As you set out your pots and pans to catch these drips you may be asking yourself- “Am I covered for this”?

The home policy is designed to cover the damage the water causes to your ceiling.  The policy is not intended to cover the wood that becomes rotten, any shingles that become damaged, or the cost to get the ice dams off your roof.  The home policy is not intended to be a maintenance contract.  There are certain things we all need to do to maintain our homes.  It is possible however that reasonable cost to prevent this from happening in the future may be covered by some insurance companies.  If you experience a loss make sure to ask your Account Manager to see if they participate in such reimbursement.

The home policy will also address that it is the insureds responsibility to prevent further damage to the home.  In other words, you need to make sure you have proper insulation to prevent ice dams.  You need to safely remove heavy snow from your roof so when it eventually melts will not cause ice dams.  There are contractors that will do this safely for you at a reasonable cost, and again your policy may pay for some of this.  Our agency and my family and I wish you all a very Merry Christmas and a wonderful New Year!!

 

Employers should be aware of new W-2 filing deadline

Column by State Rep. Jason Sheppard, R-Temperance

As we near the end of another year it’s easy to get wrapped up in holiday gift giving and family functions, but it’s also important not to lose sight of business obligations. Small business owners should be reviewing their finances and thinking about tax season.

One major change that should be on the radar of all employers is a new deadline for filing W-2 forms with the Internal Revenue Service. The Protecting Americans from Tax Hikes (PATH) Act, enacted last December by the federal government, means employers need to file their copies of W-2 forms by Jan. 31. The new deadline also applies to certain 1099 forms. Previously, employers had until the end of February (if filing on paper) or the end of March (if filing electronically) to send in copies of these forms.

The IRS says the new Jan. 31 deadline will allow it to spot errors on returns filed by taxpayers. Having these W-2s and 1099s sooner will make it easier to verify legitimate tax returns and get refunds to taxpayers eligible to receive them, according to the IRS. The changes will allow some tax refunds to be sent faster.

The changes made in the PATH Act also mean some taxpayers will get their refunds a bit later than normal.  By law, the IRS must now hold refunds for any tax return claiming either the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) until Feb. 15. This means the whole refund, not just the part related to the EITC or ACTC, could be delayed.

People should also be aware of a change coming next year. Beginning in 2017, taxpayers may need their adjusted gross income amount from a prior tax return to verify their identity when e-filing. Transcripts of tax returns are available at www.irs.gov/transcript.

While there are a number of changes in the law, the IRS recommends that people continue to file their returns as normal. The IRS issues nine out of 10 refunds in fewer than 21 days. However, some returns may need further review. Whether or not claiming EITC or ACTC, the IRS cautions taxpayers not to count on getting a refund by a certain date.

Senate OKs Zorn’s border community economic development bill

From Senator Zorn’s office

Although Michigan has created more than 480,000 private-sector jobs during the last six years, we must continue to help encourage creating new jobs in our state. While the state offers economic development assistance to help foster job creation, the requirements for these incentives put Michigan’s border towns and counties at a huge disadvantage.

That is why the Senate approved Senate Bill 1085 to help our border communities attract investment and assist expansion of current businesses in these counties that may have some employees who live across the border. The bill would expand the definition of a “qualified new job” used in Michigan’s economic assistance programs include a job performed by a non-resident for a business located in a Michigan border county.

Many Michigan residents live here and work in Ohio and vice versa. This is about fairness and helping our local economies. Businesses in Michigan that want to invest, expand and create jobs in our state should be encouraged — not punished if some of their employees choose to live on the other side of the state line.

Please feel free to contact my office by email at SenDZorn@senate.michigan.gov or call us at 517-373-3543.

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