Now is the time to make sure all subcontractor, independent contractor, and contract or temporary labor information is up-to-date in your files and that you have a correct address and federal ID number for each. This applies to anyone who provides a service to your company, whether on a job site or at your place of business. This also applies to any payments for rent or legal services. This information should be obtained by receiving a completed Form W-9 from the individual or business before they begin work for you.
Extended Tax Return Reminders
If the filing of your business or personal tax return was extended for 2013 and we have not yet received your information, please provide it to us as soon as possible so we can prepare and file the returns on time. The following are the upcoming due dates for extended returns:
- Form 1065 (Partnership): Due 9/15
- Form 1120 (Corporation): Due 9/15
- Form 1120S (S-Corporation): Due 9/15
- Form 1040 (Personal): Due 10/15
Minimum Wage Increase
The Michigan minimum wage increases on September 1, 2014 as listed below. For more information click on the following link : Michigan Minimum Wage Increase
- Minimum Hourly Wage Rate = $8.15
- Tipped Employee Hourly Wage Rate = $3.10
- Minimum Hourly Wage Rate for Minors (16-17) = $7.25
- Training Wage for Employees ages 16-19 (first 90 days) = $4.25