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Monthly Archives: November 2016

Small Business Saturday


Next Friday is Black Friday. Next Saturday is Small Business Saturday. Instead of waking up at 4 am to wait in line at a big box retailer on Friday, explore the small businesses that help your community thrive on Saturday. As a small business ourselves that specializes in helping small businesses with their accounting, Small Business Saturday is a movement that we are totally behind. A small business not only helps the economy of your community, but it also provides jobs to your community.

While we suggest that you support your small businesses throughout the year, American Express decided to dedicate a specific day to promote small businesses. They started the movement in 2010 and it has grown to the point where last year approximately 95 million people went out to shop at a small business last year. American Express also adds incentive to their credit cars holders by giving extra rewards for purchases at small businesses. You can search for local small businesses in your area here: SBS Locations. Some communities have come together to promote the day. Take for instance, the Third Ward. They have created a website dedicated to Small Business Saturday that displays the local small businesses and some deals that they are offering for the day:Third Ward SBS.

Through my experience working with small business owners, I have learned a lot about what small business is all about. A small business owner really loves what they do. They enjoy providing the services in which they provide, they enjoy helping their customers, and they enjoy being part of their community. There are not any corporate agendas involved, the business is like a family.

We help these owners with their small business accounting in Milwaukee, Waukesha, Brookfield, New Berlin, Wauwatosa, West Allis, Mukwonago, Oconomowoc, and other surrounding cities. Our goal is to provide these business owners with more time to focus on growing their business.

Small Business Saturday this year is on Saturday, November 26th. Please show your support to the small businesses that you frequent often, or try out a new business for the first time. Save your money that you would give to a corporate business on Black Friday and use it to support your community. If you know of any small businesses that you think people should visit next Saturday, please feel free to share on our Facebook Page. You can follow along with the movement by using the hashtag on social media of #shopsmall.


Happy Small Business Saturday!



Trump Tax: Uncertainty Ahead


My fellow American taxpayers,

On Tuesday night, Donald J. Trump was elected as the next President of the United States. Whether you are happy, upset or indifferent with that outcome, one thing is for certain, uncertainty with the tax code lies ahead. ‘Trump Tax’ is here. However, this is nothing new; the tax code is always evolving, it has been for the past 100 years. Just take a look at what a 1040 tax form looked like in the year 1913:


That’s right…one page. Today, some taxpayers have a tax return the size of a High School textbook. Hammernik & Associates wasn’t around in 1913, but we have been staying on top of the tax code for the last 30 years. Over that time span, there have been many overhauls, tweaks, and changes to the way you report your income tax today. No matter the uncertainty that lies ahead with your tax return, rest assured that Hammernik & Associates will use our proactive approach to keep or clients informed and prepared for possible change.

With that being said, Donald Trump wants to change your tax return. Does this scare you, or are you intrigued that his proposals might save you money?


  • Goodbye, Obamacare?
  • Tax Bracket Change
  • Standard Deductions Rise
  • Child Care Credit Increase
  • Alternative Minimum Tax (AMT) Removed
  • Net Investment Income Tax (NIIT) Removed
  • Estate Tax Removed
  • Flat Tax Rate For All Businesses


Do you want to find out how Trump might effect YOUR tax bill? We have put together an E-Book, “The 7 Ways Donald Trump Wants To Change Your Taxes”. You can download this E-Book on the homepage of our website, www.hammernikassoc.com.

Hammernik & Associates will stay ahead of the Trump changes, as well as any other change to the tax law. We will help you tax plan for your unique tax situation. With tax uncertainty looming, it is a good idea to ask your tax professional about our tax planning packages when you meet with them in a few months. Make Hammernik & Associates your trusted candidate for the role of tax adviser in 2017 and the future.

P.S. Milwaukee tax accountants Dale Hammernik, Dave Biskup, and Nick Hammernik will be holding  a ‘Trump Tax’ round table for a more in depth discussion of the tax proposals from Donald Trump. Stay tuned for the release of that video next week.


What To Do With Leftover Halloween Candy

Our office is full of leftover Halloween candy. It is hard to walk by it all day an resist grabbing something to snack on. How about you? Did you sneak a stash of your kid’s candy for personal use. Halloween candy is like Thanksgiving dinner…there is always going to be leftovers! So, Milwaukee, can that leftover candy help with your tax preparation this year?


I came across this article from one of my favorite follows, Kelly Phillips Erb, who is a writer for Forbes.

13 Uses For Leftover Halloween Candy & The Resulting Tax Consequences

The title of this article can be a little tricky if you take it literally, but what a treat this article is to read. You can use the tax consequences in this article for any exchange of goods that apply.

A lot of this article is tongue and cheek, but #7 is actually a legitimate use for leftover candy. If you can find a qualified charitable organization that accepts candy, you can deduct the fair market value of the candy that you donate to them.

What about that costume that you wore for Halloween this year? Think you will ever use it again? If not, donate it to Goodwill and not only receive a tax deduction, but you might help out somebody looking for an affordable costume next Halloween!

While we are on the topic of charitable donations, Hammernik & Associates is jumping on board with Movember to raise awareness for men’s health. While you may be accustomed to always seeing Dale with a mustache, you might be seeing a few more mustached men around the office this month. Donate Here!

Halloween candy and mustaches…exactly what you thought you would read about in a tax blog, right? 😉


Enjoy this beautiful fall weekend!


Nicholas Hammernik, EA


Halloween circa 2007