Labor Shortages and The Accounting Industry

by Kelly Thompson | Dec 10, 2021 | Accounting

From fast-food restaurant lobbies closing, drive thru banking and pharmacies having longer wait times, to many businesses reducing operating hours; a shortage of employees is being heavily noticed across all industries, with accounting being no exception.

There are numerous causes leading us to this point, below are just a couple:

There is a widening gap between CPAs reaching retirement age and college graduates entering the workforce.
These college graduates are being offered positions that their accounting degrees qualify them for without the stringent requirements of a CPA license.

HERE at Senter, CPA we plan to stay ahead of this shortage by continuing to value our talented team and evolve our business operations to handle these uncertain times, while supporting our clients long-term. Our services are provided virtually, as well as in-person, to suit each client’s needs, making us easily accessible to clients near and far. Senter, CPA will be a calming force to aid in maintaining confidence in both personal and business financials.

Although we are ahead of this shortage, we do ask for grace, patience, and understanding through our extremely busy season we are entering. Our clients are our top priority, and we will treat each circumstance with the utmost respect and integrity with as much timeliness as possible.

“The Best Way to Find Yourself is to Lose Yourself in the Service of Others.” – Mahatma Ghandi

DISCLAIMER

Freelancing and Taxes: Plan for them

by Matthew Senter | June 6, 2019 | Tax | 0 Comments

Freelancer is a term we see a lot these days and the tax implications are different than as an employee. An employee has the luxury of their employer withholding and paying their tax to the appropriate taxing authorities on their behalf. A freelancer does not. In its simplest form a freelancer is a sole proprietor for income tax purposes. Becoming self-employed as a freelancer comes with great flexibility of being your own boss but one should be mindful of proper record keeping requirements and timely tax payments.

Like-kind Exchanges: Tax Deferred Gains

by Matthew Senter | July 17, 2019 | Tax | 0 Comments

Like-kind exchanges are most popularly thought of exchanges of real estate under current law. Exchanging property is also a strategic way to dispose of property tax fee. Under the 2017 Tax Cuts and Jobs Act (TCJA) exchanges of personal property and intangible personal...

Ask a CPA: FREE Individual Tax Planning Course

by Matthew Senter | September 18, 2019 | Courses, Tax | 0 Comments

Ever wondered if you could reduce your tax liability or pay less tax on your income? Come join us for a FREE Q&A course related to individual income tax planning. It's an opportunity to get your questions answered or hear ideas and questions from others that may...

Tax Scams: Be Careful, They Exist

by Matthew Senter | November 13, 2019 | Internal Revenue Service, Scams, Tax | 0 Comments

As year-end approaches, we want to remind our friends and clients of potential tax scams that exist. Cyber criminals use these scams to obtain names, social security numbers, addresses and other personally identifiable information to file bogus tax returns or defraud...

Foreign Bank and Financial Accounts: Understanding the FBAR

by Matthew Senter | November 18, 2019 | Internal Revenue Service, Tax | 0 Comments

Did you know that a taxpayer must report certain foreign financial accounts, such as bank accounts, brokerage accounts and mutual funds each year, as part of the Bank Secrecy Act? By filing a Report of Foreign Bank and Financial Accounts, otherwise known as FBAR (on...

5 Things to Put on Your Year End Checklist

by Kylie Harig | November 25, 2019 | Tax | 0 Comments

It's important to keep a checklist of items on your financial radar as we approach the close of 2019. Below are 5 simple tax savings strategies, which will protect your financial health and ensure future success as you move into 2020. The Top 5 Year End Items: Speak...

IRS Penalties: Abatement & Resolution

by Matthew Senter | December 10, 2019 | Internal Revenue Service, Tax | 0 Comments

Have you ever paid an IRS penalty or feel like you've accumulated too many penalty notices from the IRS? If so, it's possible we can help alleviate the pain. Let's review a couple of ways to reduce, remove or abate some of those penalties. There are many forms of...

Comprehensive Financial Planning: Building a Dream Team of Professionals

by Kylie Harig | December 18, 2019 | Accounting, Tax, Team | 0 Comments

Building a network of well-connected financial professionals is a crucial means of personal wealth management. A dream team of experts will provide service and support towards working for and achieving your financial goals, while monitoring progress along the way....

Welcome to the Senter, CPA Team – Kylie N. Harig

by Kylie Harig | January 8, 2020 | Tax, Team | 0 Comments

Hi there! My name is Kylie Harig and I am the new office manager at Senter, CPA. I am so thankful for the opportunity to introduce myself to you and hope that you enjoy learning a little about me and my family. I come to you with nearly a decade of experience in the...

Workplace Dependent Care Benefits

by Kylie Harig | January 24, 2020 | Internal Revenue Service, Tax | 0 Comments

If you have paid for the care of your dependent(s) in the past and anticipate that dependent care will likely continue through 2020, then you will want to think about a specific work place benefit that may be available through your employer. Dependent Care Benefits,...

Always remember, Senter, CPA is here for you if you need any assistance.

Don't hesitate to give us a call at 248-934-0550, or contact us below.

DISCLAIMER

Understanding Tax Extensions: What They Are and How They Benefit You

by Matthew Senter | March 27, 2025 | Accounting, Tax | 0 Comments

As the tax filing deadline approaches, many taxpayers find themselves unprepared to submit their returns on time. In such cases, filing a tax extension can be a practical solution.

Making Your Federal & State Income Tax Payments

by Matthew Senter | March 7, 2025 | Accounting, Tax | 0 Comments

Paying your federal and Michigan state income taxes has become more convenient with various online options.

Where’s My Refund

by Matthew Senter | March 7, 2025 | Accounting, Tax | 0 Comments

At Senter CPA, we understand how important it is to track your refund status efficiently. That’s why we’re providing you with a step-by-step guide to using the IRS “Where’s My Refund?” tool and Michigan’s “Where’s My Refund?” portal.

Senter, CPA 2024 Individual Tax Return Process

by Matthew Senter | February 25, 2025 | Tax, Team | 0 Comments

At Senter, CPA, we strive to make your tax preparation process seamless and efficient. Here’s an overview of our updated tax return process for the 2025 tax season: (2024 tax returns)

Beneficial Ownership Information Reporting Requirements? February 2025 UPDATE

by Matthew Senter | February 20, 2025 | Tax | 0 Comments

As of February 20, 2025, the Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA) have been reinstated. This follows the U.S. District Court for the Eastern District of Texas’s decision on February 18, 2025, to lift the nationwide injunction that had previously halted enforcement of these requirements.