Todd joined Norton Accounting & Consulting, P.C. in January, 1996. He graduated from Central Michigan University with a business degree, majoring in accounting. His background includes operational and entrepreneurial responsibility for family and personally owned business. [He knows what it is like to "be in the trenches".] Todd provides monthly accounting and tax services to a large number of business clients. He also provides extensive income tax return preparation services to individuals, partnerships, and corporations.
In December 2012, Todd successfully completed the certification process to become an Enrolled Agent (EA). The Internal Revenue Service awards this designation after passing rigorous testing in all areas of tax preparation. This designation permits Todd to represent clients in matters with the IRS.
I am writing to inform you of a significant new tax deduction taking effect in 2018 under the new tax law. It should provide a substantial tax benefit to individuals with "qualified business income" from a partnership, S corporation, LLC, or sole proprietorship. This income is sometimes referred to as "pass-through" income.
The deduction is 20% of your "qualified...
The year is quickly drawing to a close, but there’s still time to take steps to reduce your 2017 tax liability — you just must act by December 31
1. Pay your 2017 property tax bill that’s due in early 2018.
2. Make your January 1 mortgage payment.
3. Incur deductible medical expenses (if your deductible medical expenses for the year already exceed the...
With kids back in school, it’s a good time for parents (and grandparents) to think about college funding. One option, which can be especially beneficial if the children in question still have many years until they’ll be starting their higher education, is a Section 529 plan. Tax-deferred compounding 529 plans are generally state-sponsored, and the savings-plan option offers the...