Joint Accounting PLLC

11/11/2025

Happy CPA week to all my fellow CPAs here in the state of Michigan and across the US!

12/04/2024

5 COMMON SMALL BUSINESS TAX MISTAKES

1. People are Paid Incorrectly
Business owners get in trouble if they classify people as contractors when they are really employees. This is something the government audits. They can get a lot of money from assessing taxes, interest and penalties when they find a business has misclassified employees.

2. All Startup Costs Are Not Deducted
When a new business is opened and has made sales, start up costs can begin to be amortized (or gradually write off over time). This includes expenses and assets from years before the business was started.

3. Not Taking Advantage of the Full Deduction for Auto Expenses
If you drive a car for business, you can deduct the auto expenses or mileage.

4. Falling Behind on Estimated Taxes
Businesses and their owners may need to pay estimated taxes every quarter based on profits.

5. Picking the Wrong Tax Business Structure
When a business is launched whether it is an LLC or not, a tax business structure needs to be decided on (eg., Partnership, LLC, S or C Corporation).

11/28/2024

We hope everyone has a safe holiday! We are grateful for you and the ability to serve you!

11/15/2024

Proudly presenting jointaccountingpllc.com. Check it out and let me know what you think! via

01/04/2024

Did you know the IRS has free to use online tools for taxpayers? Well now you do! Several great tools and resources for taxpayers to utilize this upcoming tax season!

12/14/2023

Business owners!!!!! The IRS has increased the standard mileage deduction to 67 cents 🤯 this translates to a larger deduction for your business

04/11/2023

The look your tax preparer gives you when you forget the deadline is next Tuesday!!!!!! Tax Deadline 4/18 mark it on your calendars and get those taxes paid on time! 🔥🔥🔥🔥

03/16/2023

Did you recently receive a Schedule K-1 form?

Yesterday was the filing deadline for partnership and S corporation income returns, for those reporting on a calendar year (without extension).

If you received a K-1 from a , here are a few tips to help decipher what some of the items reported may mean.

➡ Item J: Did you know that partnerships can be structured to have disparate interests? Your interests should be reported separately here, and reflect any changes occurring during the year.

➡ Item K: Partnership liabilities (debt) are allocated separately based on type, with each type having a different treatment to the partner. If you have amounts reported here, make sure to understand how they were allocated!

➡ Items M & N: Did you or another partner ever contribute property (assets) worth more or less than what was paid for the property? If so, pay close attention to information in these sections.

➡ Boxes 1-3: If your partnership has ordinary income activity and real property rental activity, amounts will be reported separately here. These different types of income have different rules on how allocated amounts may be treated by the partner.

➡ Boxes 4a-4c: Did you receive payments from the partnership for services (similar to a salary), or for the use of your capital (certain interest payments or preferred returns)? Amounts will be reported here. Tip: Box 14 may consider amounts in boxes 1 - 4 also, generally, depending on the partner's role in the business or activity.

➡ Boxes 11 & 13: Do you have amounts reported in either of these boxes? Make sure to get any underlying detail if so!

➡ Box 18: Is your partnership a cannabis business? This is where allocated expenses disallowed by IRC are reported. (Along with several other types of items.)

The best tip we can give? Talk with your CPA to make sure you understand all amounts allocated to you on your Schedule K-1, including any underlying schedules or calculations that were made that are not part of the business’s financial records!

03/08/2023

So it begins….

https://www.lansingstatejournal.com/story/news/local/2023/03/08/lawsuit-dimondale-cannabis-company-owes-more-than-127m-skymint-in-receivership/69984512007/?fbclid=IwAR2Zm5YXx6pTQfqK-EPprjXVvJIwCBPvABaxGvq9iZVlva6hywuvg6OzVB8

Dimondale-based cannabis company Green Peak Industries, which operates under the brand name Skymint, has been placed under the control of a receiver.