Welcome To

Fenner, Melstrom & Dooling PLC

Accountants who think like business owners.

We are your strategists, advisors and confidants.

We treat your business like our own: spending time at your facilities, participating in your planning and assigning senior professionals to guide you.

Our ultimate goal is to help you make more money. Working with us, you will learn to increase earnings and keep more for yourself.

 

 

Fenner, Melstrom & Dooling - Detroit Metro Area Accounting Firm



FMD Updates

Are You Ready For The New Tax Year?

With the new year upon us, it’s a good time for your business (as well as you personally) to plan for the upcoming year and discard of some poor habits from the past. It’s a good time to look at strengthening record keeping while the books are starting off fresh for the new year. The CPAs at Fenner, Melstrom and Dooling, PLC would like to point out some good bookkeeping and other general business habits to pick up for the New Year.


Leverage Technology

Most people absolutely dread having to track all of their donations, expenses and mileage during the course of the year. Try using technology to lessen the burden of the record keeping. There are apps available that allow you to track these items in real time. You can now record and even take pictures of your business meal receipts while still at the table or update your trip log before you get out of the car based upon your GPS. The few seconds it takes to record these items in real time is negligible compared to the time it takes to gather these items at month/year end.


Record Keeping for Meals and Entertainment
The IRS does not require receipts for meals if the required documentation is recorded in a log and the cost is less than $75. If used properly, an IPhone or Android app could replace the need to save several receipts.

Travel, Meals and Entertainment expenses need to be documented with the following items:

• The amount of the expense
• Time and place of the expense
• The business purpose of the expense
• ....


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