Special Announcements 

Recruiting Update

UHY Goes Mobile

Costing

How do the profits of your company stack up against competitors? If profitability is not where it should be, the answer might be that your costing is outdated and/or no longer accurate. Rely on your trusted advisor to help you uncover the truth.

Contact your UHY professional today. 

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Year-End Planning Regarding Capitalization and Expensing

The IRS recently issued temporary regulations regarding amounts to be capitalized for income tax purposes. The new rule can create year-end deductions for enterprises that may not be eligible to expense items via Section 179.

In general, taxpayers must capitalize amounts paid to buy tangible property. However, under the temporary regulations, a de minimis rule applies to amounts paid in tax years beginning after December 31, 2011. Under the de minimis rule amounts paid to acquire a unit of real or personal property don't have to be capitalized if:
 

• The taxpayer has an applicable financial statement (AFS), such as one required to be filed with the Securities and Exchange Commission, or a certified audited financial statement accompanied by an independent CPA's report that is used for credit or reporting purposes, reporting to shareholders or any other substantial non-tax purpose;
• The taxpayer has written accounting procedures in place at the beginning of the tax year for expensing amounts paid for such property under certain dollar amounts;
• The taxpayer treats such amounts as expenses on its AFS in accordance with its written accounting procedures;
• The aggregate of amounts paid and not capitalized under the de minimis rule for the tax year are less than or equal to the greater of (a) 0.1% of the taxpayer's gross receipts for the tax year as determined for federal income tax purposes; or (b) 2% of the taxpayer's total depreciation and amortization expense for the tax year as determined in its AFS (this is referred to as the de minimis ceiling).

This calculation requires the taxpayer to track the amount of the property qualifying under the de minimis rule. Should the amount of property exceed the above thresholds, the taxpayer would not meet the requirements of the de minimis rule and thus be required to capitalize the entire amount. There is however, an election that can be made to elect out of the de minimis rule for certain units of property. A taxpayer can elect to exclude certain property that would otherwise be below the dollar threshold, and capitalize the property. By electing to exclude these units of property, a taxpayer may meet the above de minimis ceiling and would not be required to capitalize the costs of the remaining qualifying property. The election is an annual election and must be made on a timely filed tax return (including extensions).

Although no formal election statement is needed to for the de minimis rule, taxpayers should keep good records of such deductions. The applicability of this section expires on December 23, 2014.

For more information please contact your professional at UHY LLP in Farmington Hills 248 355 1040 or Sterling Heights 586 254 1040, or visit us on the Web at www.uhyllp-us.com.

Events Calendar

9/12 Petroleum & C-Store Webinar Series: Succession Planning

Please join us for this quick hitting lunch hour geared towards petroleum and c-store business owners, chief executives and chief financial officers. Is your succession plan in order? 2012 may be the final year to take advantage of the $5 million gift tax exclusion. Tune in as our experts address your questions. Webinar will conclude with an open discussion.

Wednesday, September 12, 2012

12:00PM-1:00PM EST

CPE credit will be offered. Pre-registration for this complimentary webinar is required. Multiple registrations are welcome. Please contact Courtney Gray via email cgray@uhy-us.com or phone 586 843 2533 to register. Formal invitation and webinar log-in instructions will be announced at a later date.

9/12 Health Care Forum: Build, grow, protect what matters most to your practice

Meet with various Health Care experts at The Capital Grille in Troy as they discuss transaction matters on strategic succession planning, financing options on buying into a practice, benchmarking your practice for increased profitability, why Medicare/Medicaid audits are expanding, preparing for massive 2013 tax increases and practice transition tax strategies.

Wednesday, September 12, 2012

5:30PM-8:00PM

Advance registration for this complimentary event is required. Space is limited. To RSVP please contact Courtney Gray by email cgray@uhy-us.com  or phone at 586 843 2533.

9/20 PEO Webinar Series: Mergers & Acquisitions  

Please join us for this quick hitting, mid-morning one-hour webinar geared towards PEO business owners, chief executives and chief financial officers. Tune in as our experts address current trends in M&A activity affecting the PEO industry and you. Webinar will conclude with an open discussion.

Thursday, September 20, 2012

10:30AM-11:30AM EST

CPE credit will be offered. Pre-registration for this complimentary webinar is required. Multiple registrations are welcome. Please contact Courtney Gray via email cgray@uhy-us.com or phone 586 843 2533 to register. Formal invitation and webinar log-in instructions will be announced at a later date.

9/26 Blackline Roundtable: Improving the close process utilizing finance governance technologies

Please join BlackLine Systems and UHY for an exclusive networking breakfast discussing the challenges organizations currently face in creating an efficient and effective record to report process and how new Finance Governance Technology tools help address these challenges. We are also pleased to have Henry Wagner, a Senior Manager in the Accounting & Financial Reporting function at Chrysler, discuss how Chrysler has been successful in addressing these challenges.

Finance Governance Technologies (FGT) refers to the tools that automate and digitize the record to report process components. These technologies provide the foundation to establish the monitoring, visibility, and benchmarking necessary to deliver value, manage resources, control risk, measure performance, and capture assurance in an integrated platform. The use of these tools has grown very rapidly over the last two years. This program should help attendees understand where these tools could provide value in their organizations.

Wednesday, September 26, 2012

8:00AM-10:30AM EST

This session is intended for anyone who is involved in supporting the execution of an efficient and effective monthly, quarterly, or annual financial reporting process. In addition, customers of the financial reporting output, such as Tax, FP&A, and Regulatory, should gain insight into how the quality and timeliness of their data can be improved. Companies that are heavy users of Excel, have very manual close and reporting processes, or have complex customer, legal entity, or trading partner relationships should see opportunities to reduce complexity.

CPE credit will be offered. Advance registration for this complimentary event is recommended as seating is limited. Breakfast will be provided. Multiple registrations are welcome. To RSVP please contact Courtney Gray by email cgray@uhy-us.com or phone at 586 843 2533.  Formal invitation to follow shortly.

10/16 Climbing the BRIC Wall-Opportunities with Brazil, Russia, India and China

Please join either on-site or on-line us as we convene a panel of experts to discuss inbound investments into the BRIC countries including a general overview of the business climate and economic conditions, opportunities and potential threats of doing business in the country, tax issues and considerations, pitfalls when starting a business in the country, employment considerations, entity structure and tax planning considerations.

Tuesday, October 16, 2012

On-site Program             On-line Webinar   

Eastern Time         7:30AM-12:30PM            8:00AM-11:45AM

CPE credit will be offered. Pre-registration for this complimentary program is required. Complimentary breakfast and lunch will be provided. Space is limited. Multiple registrations are welcome. To reserve your seat contact Courtney Gray via email cgray@uhy-us.com or phone 586 843 2633. Please declare either on-site or on-line. Formal invitation to follow shortly. Webinar log-in instructions will be released to registered attendees at a later date.

10/25 UHY LLP Annual Construction Outlook

Save the date! UHY LLP is pleased to announce its Annual Construction Outlook that will be held in the Farmington Hills office conference center. Join us to learn more about industry trends, bonding update and the latest financial and tax developments.

Thursday, October 25, 2012

7:00AM-10:30AM EST

CPE credit will be offered. Pre-registration for this complimentary event is required. Multiple registrations are welcome. Please contact Courtney Gray via email cgray@uhy-us.com or phone 586 843 2533 to register. Formal invitation to follow shortly.

11/1 UHY LLP Annual Manufacturing Outlook

Save the date for UHY LLP Manufacturing Outlook 2013: An American Renaissance. Join us either on-site or on-line via webcast to learn more about the latest industry trends and rebirth of American manufacturing. Topics, speakers and keynote will be announced shortly.

Thursday, November 1, 2012

On-site Breakfast Program       On-line Webinar   

Central Time          7:30AM-10:45AM                     8:00AM-10:45AM

Eastern Time         8:30AM-11:45AM                     9:00AM-11:45AM

CPE credit will be offered. Pre-registration for this complimentary program is required. Breakfast will be provided. Space is limited. Multiple registrations are welcome. To RSVP contact Courtney Gray via email cgray@uhy-us.com or phone 586 843 2533. Please declare either on-site or on-line. Formal invitation and webinar log-in instructions will be released at a later date.

11/13 Health Care Reform Update  

Please join us for this quick hitting, early morning interactive discussion aimed at business owners with 25 or more employees. Tune in as our experts address important aspects of the Health Care Reform Law including legality, tax law changes, Census considerations, employer shared responsibility, and post-election planning opportunities.

Tuesday, November 13, 2012

7:00AM-9:30AM EST

Pre-registration for this complimentary update is required. Multiple registrations are welcome. Please contact Courtney Gray via email cgray@uhy-us.com or phone 586 843 2533 to register. Formal invitation to follow shortly.

Save the date! More UHY events are just around the corner...

12/5        UHY LLP Annual Accounting & Regulatory Update

12/5        UHY Advisors Annual Tax Forum

Contact Courtney Gray via email cgray@uhy-us.com or phone 586 843 2533 to save your spot or for more information.  

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Experienced Recruiting Update

UHY Michigan is actively looking for experienced candidates to fill key positions in our Sterling Heights office.  Please review the openings below and if you know someone who may be interested in any of these roles please reach out to Rina Madias, Recruiting Manager, via email rmadias@uhy-us.com or phone 248 204 9331.

Sterling Heights

Tax Managers

Senior Tax Staff

Tax Staff

SALT Manager

Customer Service Associate

Recruiter with finance/accounting recruiting experience

UHY Goes Mobile

I would like to share some very exciting news! UHY has gone mobile. That's right, we have just released the UHY Mobile site, making it easier to access www.uhy-us.com through your mobile device. This is another illustration of what our pledge to 'The Next Level of Service.' To access the UHY Mobile site, simply type www.uhy-us.com into your mobile device and you will automatically be redirected to our new mobile enhanced web pages. Please make sure to bookmark the page. Enjoy!