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Michele Horst Talks About Tax Planning

Michele Horst, senior tax manager, recently joined the Ellenbecker Investment Group on their Money Sense radio program. The topic of this show focused on tax planning for individuals and business owners and updates to tax laws that businesses should be aware of. Sit back and listen to the podcast. After you’ve had the chance to listen to the podcast, be sure to check out the tax planning services we offer at Chortek!

Pat-Wirth

Pat Wirth: Tax Planning Podcast

Pat Wirth, tax partner, recently joined Jeff and Aaron Kowal on their Retirement Clinic Radio Show. The topic of this show focused on tax planning for individuals and business owners and updates to tax laws that businesses should be aware of. Sit back and listen to the tax planning podcast below:

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bonus money with ribbon

Taxing Year-end Bonuses

Most employees welcome a year-end bonus, but many are confused about how this additional income is taxed. Many times the employee will be shocked at the large amount of Federal and State income taxes withheld from the bonus check. The fact is that in most cases, the employer is mandated to withhold taxes on bonus payments at rates higher than a typical paycheck.

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record keeping

Why Should I Keep Records?

Good records will help you monitor the progress of your business, prepare your financial statements, identify source of receipts, keep track of deductible expenses, prepare your tax returns, and support items reported on tax returns.

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R&D Tax Credit assembly line

Changes to the Alternative Simplified R and D Tax Credit Can Help Your Business

RandDTaxCredit 300x182In 1981, the R&D Tax Credit was added to the tax code as part of the Economic Recovery Tax Act. It has been renewed regularly and remains in effect through the current tax year. Over the intervening years, however, several changes and clarifications have been made to the original R&D Tax Credit. A four-part test is generally applied to R&D expenses to ensure that they qualify under this tax credit:

  • The R&D expenditures must have been made for a permitted purpose, usually to improve existing products or to create new ones.
  • A systematic process of experimentation must be followed to ensure the scientific validity of the results.
  • There must be an intention to eliminate uncertainty regarding the method used to develop or improve current technologies.
  • The R&D performed must be directed toward technological and scientific advances in the fields of engineering, computer science or the physical and biological sciences. Read More >
Future 50

Chortek is Proud to be a Sponsor of Future 50

The MMAC/COSBE Future 50 Program, established in 1980, recognizes privately-owned companies in the seven county region that have been in business for at least three years and have shown significant revenue and employment growth. The companies are honored at two well-attended events: a Future 50 awards cocktail reception on Tuesday, September 9th and Future 50 awards luncheon on Thursday September 11th.

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BizTimes Milwaukee

BizTimes Highlights Chortek’s Food and Beverage Niche Practice

AR 140529930The May 26th issue of BizTimes Milwaukee Magazine highlights Chortek’s concentrated focus upon the Food & Beverage Industry.

Business is good for craft beer brewers, bread makers and cheese meisters in Wisconsin and beyond… Chortek is serving up accounting and tax strategies to maximize their profits and ensure future growth.

Partner Mark Albrecht and Tom McRae, Director of Business Development discuss Chortek’s commitment to serving the specialized financial needs of this industry.

Read the complete BizTimes Milwaukee story here.

BizTimes Milwaukee

BizTimes Highlights Chortek’s Food and Beverage Niche Practice

AR 140529930The May 26th issue of BizTimes Milwaukee Magazine highlights Chortek’s concentrated focus upon the Food & Beverage Industry.

Business is good for craft beer brewers, bread makers and cheese meisters in Wisconsin and beyond… Chortek is serving up accounting and tax strategies to maximize their profits and ensure future growth.

Partner Mark Albrecht and Tom McRae, Director of Business Development discuss Chortek’s commitment to serving the specialized financial needs of this industry.

Read the complete BizTimes Milwaukee story here.

business vacation

Mix Business With Pleasure

Mix business with pleasure and get a tax deduction!

When mixing business with vacation on out of town trips, follow these key strategies to maximize your tax savings from the cost of travel, meals and lodging: Read More >