L.L.Borchenko CPA, P.C.
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Certified in Michigan

Latest News

To Incorporate Or Not To Incorporate: Breaking Down Your Options Under The New Tax Law


The Tax Cuts and Jobs Act (TCJA), or what's referred to as the new tax reform law, was signed into law on December 22, 2017. Since that time, taxpayers and tax professionals alike have been mulling what the provisions of the new law might mean - and how to be best get around them. Tops in the minds of many taxpayers: Should I incorporate to save money?

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How to know it is really the IRS calling or knocking on your door


Many taxpayers have encountered individuals impersonating IRS officials - in person, over the telephone and via email. Don't get scammed. We want you to understand how and when the IRS contacts taxpayers and help you determine whether a contact you may have received is truly from an IRS employee..

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Understanding Employee vs. Contractor Designation


The Internal Revenue Service reminds small businesses of the importance of understanding and correctly applying the rules for classifying a worker as an employee or an independent contractor. For federal employment tax purposes, a business must examine the relationship between it and the worker. The IRS Small Business and Self-Employed Tax Center on the IRS website offers helpful resources

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Trump Tax Plan, Cuts and Changes in 2017, 2018 and Beyond


Republican lawmakers in the House and Senate have now passed a combined tax reform bill along party lines for President Trump’s Tax Reform measures under the Tax Cuts and Jobs Act. See the table below that contrasts changes from earlier versions in each chamber versus what is in the final bill that goes to the President for signing into law. These tax reform changes are aimed at building on Trump’s promises (per prior updates below) to streamline the US tax code, cut several itemized deductions and lower large corporate and small business taxes.

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Get Ready for Taxes: Plan Ahead to Avoid Refund Delays
Taxpayers can take steps to ensure smooth processing of their 2017 tax return next year. Here are three things taxpayers should know about the tax returns they will file next year.

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Consumer Alert: IRS Warns Taxpayers, Tax Pros of New Email Scam Targeting Hotmail Users.
WASHINGTON - The Internal Revenue Service today warned taxpayers and tax professionals of a new email scam targeting Hotmail users that is being used to steal personal and financial information.

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National Tax Security Awareness Week No. 5: Small Businesses: Be Alert to Identity Theft.
WASHINGTON - The IRS, state tax agencies and the nation's tax industry joined together to warn small businesses to be on-guard against a growing wave of identity theft against employers.

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