Business Details
Meyaard Tolman & Venlet p.c. is a full service certified public accounting (CPA) and business consulting firm located in Zeeland, Michigan. The firm currently has three partners and eight professional/support staff. Meyaard Tolman & Venlet p.c. has been providing quality, personalized financial guidance to businesses and individuals for over 35 years.
Our expertise ranges from basic tax management and accounting services to more in-depth services such as audits, financial statements, and financial planning. Our mission is to help clients maintain financial viability in the present while taking a proactive approach to achieve future goals. This requires open communication to reach an understanding of our clients' needs, thorough research, and sound analysis.
Meyaard Tolman & Venlet p.c. is dedicated to meeting these goals with high standards of excellence and professionalism. Our practice consists of clients in a broad range of businesses, including many in the manufacturing, construction, trucking and not-for-profit industries.
Our expertise ranges from basic tax management and accounting services to more in-depth services such as audits, financial statements, and financial planning. Our mission is to help clients maintain financial viability in the present while taking a proactive approach to achieve future goals. This requires open communication to reach an understanding of our clients' needs, thorough research, and sound analysis.
Meyaard Tolman & Venlet p.c. is dedicated to meeting these goals with high standards of excellence and professionalism. Our practice consists of clients in a broad range of businesses, including many in the manufacturing, construction, trucking and not-for-profit industries.
Services
Our Team
He had previously been a partner in another CPA firm for sixteen years.
Glenn has completed over forty years in combined public and industrial accounting, and continues to serve small businesses, individuals and trusts in their tax and accounting needs.
Jayne works with many of the Firm's nonprofit organization clients, while also serving businesses and individuals.
As well, Jayne has served on a number of not-for-profit organization boards and school committees.
She currently serves on the finance committee of her church, and recently served as treasurer of Good Samaritan Ministries of Holland.
Glenn has completed over forty years in combined public and industrial accounting, and continues to serve small businesses, individuals and trusts in their tax and accounting needs.
Jayne works with many of the Firm's nonprofit organization clients, while also serving businesses and individuals.
As well, Jayne has served on a number of not-for-profit organization boards and school committees.
She currently serves on the finance committee of her church, and recently served as treasurer of Good Samaritan Ministries of Holland.
Services
Meyaard Tolman & Venlet P.C. provides a wide range of services to individuals and businesses in a variety of industries.
At Meyaard Tolman & Venlet P.C., we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.
At Meyaard Tolman & Venlet p.c., we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow and keep you on track to your financial goals.
At Meyaard Tolman & Venlet P.C., we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.
At Meyaard Tolman & Venlet p.c., we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow and keep you on track to your financial goals.
Payroll Services
Priority One payroll takes care of all your weekly/semi-weekly pay dates, along with quarterly and annual requirements:.
Every pay period: We prepare payroll checks, employee earnings statements, detail earnings report, department summary, next pay period time sheet, deduction registers and deposit requirements.
Quarterly: On a quarterly basis we prepare 941 quarterly reports, state unemployment insurance return, state quarterly wage return, federal unemployment insurance deposit, local tax requirements and detailed earnings reports.
Every pay period: We prepare payroll checks, employee earnings statements, detail earnings report, department summary, next pay period time sheet, deduction registers and deposit requirements.
Quarterly: On a quarterly basis we prepare 941 quarterly reports, state unemployment insurance return, state quarterly wage return, federal unemployment insurance deposit, local tax requirements and detailed earnings reports.
Business
Have you just started a new business?
Did you know expenses incurred before a business begins operations are not allowed as current deductions?
Generally, these start up costs must be amortized over a period of 180 months beginning in the month in which the business begins.
However, based on the current tax provisions, you may elect to deduct up to $5,000 of business start-up and $5,000 of organizational costs paid or incurred.
The $5,000 deduction is reduced by any start-up or organizational costs which exceed $50,000.
Did you know expenses incurred before a business begins operations are not allowed as current deductions?
Generally, these start up costs must be amortized over a period of 180 months beginning in the month in which the business begins.
However, based on the current tax provisions, you may elect to deduct up to $5,000 of business start-up and $5,000 of organizational costs paid or incurred.
The $5,000 deduction is reduced by any start-up or organizational costs which exceed $50,000.
Financial
Following are some generally recognized financial planning tools that may help you reduce your tax bill.
Charitable Giving - Instead of selling your appreciated long-term securities, donate the stock instead and avoid paying tax on the unrealized gain while still getting a charitable tax deduction for the full fair market value.
Health Savings Accounts (HSAs) - If you have a high deductible medical plan you can open an HSA and make tax deductible contributions to your account to pay for medical expenses.
Charitable Giving - Instead of selling your appreciated long-term securities, donate the stock instead and avoid paying tax on the unrealized gain while still getting a charitable tax deduction for the full fair market value.
Health Savings Accounts (HSAs) - If you have a high deductible medical plan you can open an HSA and make tax deductible contributions to your account to pay for medical expenses.
Due Dates
It's possible there could be additional extensions, so check with your tax advisor for the latest information.
Individuals must pay the third installment of 2021 estimated taxes, if not paying income tax through withholding (Form 1040-ES).
Calendar-year corporations need to pay the third installment of 2021 estimated income taxes.
Calendar-year S corporations must file a 2020 income tax return (Form 1120S) and pay any tax, interest and penalties due, if an automatic six-month extension was filed.
Individuals must pay the third installment of 2021 estimated taxes, if not paying income tax through withholding (Form 1040-ES).
Calendar-year corporations need to pay the third installment of 2021 estimated income taxes.
Calendar-year S corporations must file a 2020 income tax return (Form 1120S) and pay any tax, interest and penalties due, if an automatic six-month extension was filed.
Financial Tools
These calculators have been provided as a resource for you to help plan your financial matters.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice, or supplement the advice of a professional advisor.
There is not and can not be a guarantee of their applicability or accuracy in regards to your individual circumstances.
All examples are hypothetical and are for illustrative purposes.
You are encouraged to seek personalized advice from qualified professionals regarding all personal finance issues.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice, or supplement the advice of a professional advisor.
There is not and can not be a guarantee of their applicability or accuracy in regards to your individual circumstances.
All examples are hypothetical and are for illustrative purposes.
You are encouraged to seek personalized advice from qualified professionals regarding all personal finance issues.
Retention Guide
But what should be done with those documents after your check or refund request is in the mail?
Federal law requires you to maintain copies of your tax returns and supporting documents for three years.
This is called the "three-year law" and leads many people to believe they're safe provided they retain their documents for this period of time.
However, if the IRS believes you have significantly underreported your income (by 25 percent or more), it may go back six years in an audit.
If there is any indication of fraud, or you do not file a return, no period of limitation exists.
Federal law requires you to maintain copies of your tax returns and supporting documents for three years.
This is called the "three-year law" and leads many people to believe they're safe provided they retain their documents for this period of time.
However, if the IRS believes you have significantly underreported your income (by 25 percent or more), it may go back six years in an audit.
If there is any indication of fraud, or you do not file a return, no period of limitation exists.
