Click to return to SIOL ARCHIVES page
STRATEGIC ISSUES...ONLINE
For week
of August 7, 2006, Issue #272
Featured
Articles:
1. SBT
Repealed!
2. Tech Tip
Weekly:
3. Focus on
Fraud:
4. Compliance
Calendar
If you would like to have further information on
any of these articles, let us know. We
would appreciate receiving your comments and/or
suggestions, anytime!
acarroll@pmcpa.com
acarroll@pmcpa.com
1. SBT Repealed
SBT (Single Business Tax) Repeal
was passed at 11:45 and 12:10, respectively, by the Michigan
Senate (22-16) and Michigan House (64-36) today and is now
repealed 2 years early.
The SBT was already scheduled to
be repealed after December 31, 2009. This legislation moves
the repeal date up to December 31, 2007.
This legislation does not
require the Governor's signature, since it was brought to
the legislature through an initiative petition drive led by
Oakland County executive L. Brooks Patterson. If lawmakers
didn't act on the bill, it would have gone to the voters on
the November ballot.
Legislative committees are
looking at how much of the $1.9 billion collected each year
should be replaced and what a replacement tax should look
like. Tom Jeakle, who Chairs the Grand Rapids Chamber of
Commerce's Tax Policy Committee, has been involved in the
discussions of what a replacement tax should look like. If
you have any comment or suggestions, please email Tom at
tpjeakle@pmcpa.com.
2. Tech Tip
Weekly: Email and MS Excel Workbook
You've finally finished your MS Excel spreadsheet and now you need to share it with a colleague. Here's how:
- Choose File, Send To, Mail Recipient (as Attachment). Your e-mail program launches with the worksheet as an attachment.
Recipients must have MS Excel installed on their systems to open the workbook file. If they don't have MS Excel, send the worksheet as the body of the e-mail instead of an attachment by choosing File, Send To, Mail Recipient.
- Enter the recipient e-mail information and enter any additional text in the body of the message.
3.
Click Send.
3. Compliance
Calendar
August
9
-Employers deposit Social Security, Medicare and withheld
income tax for August 2, 3, and 4.
August
10
-Employers file Form 941 for second quarter 2006, if the
tax for that quarter was deposited in full and on time.
-Employees receiving $20 or more in tips during July
report them to employer on Form 4070.
Thank you for
subscribing to the
weekly edition of
Strategic
Issues...Online. If
you wish to
unsubscribe to this
newsletter, please
Reply to this e-mail
and type "unsubscribe"
in the subject line
and your name will be
removed. If you know
of someone else who
would benefit from
this newsletter,
please feel free to
forward this on to
them or send us their
e-mail address and we
will be happy to add
them to our mailing
list. This newsletter
has been compiled by
Prangley Marks, LLP
for our clients and
other interested
persons. The
information presented
may or may not apply
to your facts and
circumstances and
should not be acted
upon without
professional advice.
***Privacy
Policy***
Prangley
Marks,
LLP
will
not
sell,
distribute,
or
otherwise
misuse
any
email
addresses
received
or
collected
for
the
purpose
of
this
newsletter.
In
order
to
comply
with
requirements
imposed
by the
IRS
which
may
apply
to the
Strategic
Issues...Online
as
distributed
or as
re-circulated
by our
members,
please
be
advised
of the
following:
THE
ABOVE
ADVICE
WAS
NOT
INTENDED
OR
WRITTEN
TO BE
USED,
AND IT
CANNOT
BE
USED,
BY YOU
FOR
THE
PURPOSES
OF
AVOIDING
ANY
PENALTY
THAT
MAY BE
IMPOSED
BY THE
INTERNAL
REVENUE
SERVICE.
Prangley Marks, LLP
Accountants & Consultants
"The Way We Figure, We Are The Only CPA Firm You Will Ever Need"
11th Floor Bridgewater Place, 333 Bridge Street, NW, Grand Rapids, MI 49504-5356
Phone#: 616-774-9004, Fax#: 616-774-9081