UHY Advisors broad network allows our team to keep their pulse on the labor market and remain current on market trends. UHY provides our clients with the top talent they often cannot access with standard corporate job postings. Our breadth of industry knowledge and experienced individuals provides us with the ability to qualify passive candidates and reduce the number of candidates and time our clients must invest to make that right hire.
Scope of service: Financial Projects, Staffing of Verification Projects, Operational Services, Business Process Outsourcing (BPO), Tax Services, Technology – Management, Network Infrastructure, ERP, and Development
In 2015, the Financial Accounting Standards Board issued Accounting Standards Update Simplifying the Measurement of Inventory (ASU 2015-11). This standard simplifies the subsequent measurement of inventory by replacing the "lower of cost or market" test with a new "lower of cost and net realizable value test." However, entities that use the LIFO or retail inventory methods, will continue applying their current impairment models.
2016 brought significant changes to personal property tax filing in Michigan.
This is a reminder that the Form 5278, Essential Services Assessment (ESA), must be certified (approved) and paid by August 15. Taxpayers have been mailed notifications reminding them to complete the process via the MTO System (Michigan Treasury Online). Payment must be made online. No invoices pertaining to the ESA are being mailed to taxpayers.
The original filing deadline in February has been extended to Tuesday, May 31, to file Form 5278 or resubmit a Form 5278 that had been denied due to an incomplete form. The form must be received by the local assessor's office by the deadline and postmarks are not acceptable.
For those that have filed Form 5278, "Affidavit and Statement for Eligible Manufacturing Personal Property and Essential Services Assessment (ESA)", the local assessor's office has transmitted this information to the Department of Treasury to create an Electronic ESA Statement (Statement). The ESA is a State-specific tax on eligible personal property owned by, leased to or in possession of an eligible claimant as of Dec. 31 of the year immediately preceding the assessment year. The tax is collected by the State, not the local assessor's office. The Statement will be available for taxpayer viewing as of May 1 via the Michigan Treasury On-Line System (MTO).