About Us

As the President of the CPA firm Highpoint Accounting Inc., Susan Bannwart-Mairo offers over 20 years of accounting, business coaching, software consulting and tax experience. She supports home-based, small and mid-size businesses.

In addition to operating her own business, Susan believes in giving back to the community. She is a member of the Chicago QuickBooks ProAdvisor Group, Illinois CPA Society, PTA and former member of the Rotary Club of Schaumburg-Hoffman Estates. Susan is Past President of her Illinois CPA Society O’Hare Chapter and also Past Treasurer of the Rotary Club.

Susan is an Illinois Licensed and Registered Certified Public Accountant. She’s also an Advanced QuickBooks® ProAdvisor and certified in QuickBooks Pro, Premier, Enterprise and QuickBooks Online.

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Our staff has over 15 years experience in training and supporting clients in all versions of QuickBooks® including payroll.

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Recent Blog Posts

Section 179 Depreciation Deduction

Starting in year 2015, the Section 179 deduction limit in now permanent at $500,000 with the investment limit at $2,000,000 and indexed for inflation.  If the total cost of Section 179 property exceeds the investment limit, the available Section 179 deduction is reduced by the amount of the excess (but not below zero).  Amounts disallowed because of the investment limit may not be carried over.  However, if the business income limit prevents a business from deducting all or part of the cost of Section 179 property, the disallowed amount is carried over to the next tax year. Off-the-shelf software eligible for Section 179 is also now permanent. A Section 179 deduction made may be revoked or modified without IRS approval by filing an amended tax return.  Once revoked, the election cannot be reinstated. Carryover of Section 179 attributable to qualified real property provision is now permanent. If you would like to learn more about this tax strategy, please call Susan at...

2016 Health Insurance for S Corporation Owners

Deducting health insurance is a 3 step process for the more than 2% S corporation employee-shareholder.   However, before discussing the 3 step process, the health insurance plan for the more than 2% S corporation employee-shareholder must be established by one of the following:ᵃ The S corporation makes the premium payments for the health insurance policy covering the more than 2% employee-shareholder (and his/her spouse or dependents, if applicable). The more than 2% employee-shareholder makes the premium payments to the insurance company and furnishes proof to the S corporation, which reimburses the more than 2% employee-shareholder . Now here are the 3 steps: The cost of the health insurance premium are on the S corporation books. The S corporation must include the health insurance premium on the more than 2% S corporation employee-shareholder’s Form W-2 in Box 1.  The income is not subject to Social Security and Medicare.ᵇ The more than 2% S corporation employee-shareholder claims the health insurance deduction on page 1 of Form 1040. However, to claim the self-employed health insurance deduction on page 1 of the Form 1040, the more than 2% employee-shareholder must substantiate the following: The more than 2% employee-shareholder cannot take this insurance deduction if s/he or spouse is eligible for employer-subsidized health insurance.ᶜ The more than 2% employee-shareholder premiums cannot exceed the amount of S corporation salary.ᵈ If your S corporation employs less than 50 full-time employees,ᵉ then you do not have to provide health insurance benefits to your employees.  However, when you provide medical benefits to non-owner employees, your S corporation will be penalized $100-a-day if your S corporation reimburses employees for...

What is New for Desktop QuickBooks 2016

The following features are included with QuickBooks Pro and Premier 2016 and QuickBooks Enterprise Desktop 16.0 Bill Tracker  You can access it from either the menu bar, select Vendors, then Bill Tracker or from the Vendor Center or from the top or left navigation bars.   With the new Bill Tracker dashboard you can: View real-time data and status of the money-out transactions for the business Filter the displayed details by clicking on any of the color blocks at the top Filter the displayed details specifically for: Vendor, which includes a subtotal and the option to expeand or collapse selected vendor details Type of transaction Status of transactions including all, open or overdue Date range Group the displayed information by Vendor Clear/Show all will reset any filters you have selected   Bulk Clear Send Forms You can access it from the menu bar, select File, then Send Forms   With the Bulk Clear Send Forms, you can remove the Email Later selection on the Create Invoice window in batch from the Send Forms menus. Fiscal Year-to-Last Month Report Filter You can access from any report that permits you to filter for a specific date range.  From a displayed report, select the Dates drop-down then choose This Fiscal Year-to-Last Month.     These are just a few items new to QuickBooks,.  If you would like to learn more about these and other new QuickBooks tips and the QuickBook improvements, please call Susan at...

2016 Mileage Rates

Beginning Jan. 1, 2016, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) is: 54 cents per mile for business miles driven 19 cents per mile driven for medical or moving purposes 14 cents per mile driven in service of charitable organizations You always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates. You may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or after claiming a Section 179 deduction for that vehicle.  In addition, the business standard mileage rate cannot be used for more than four vehicles used simultaneously. If you would like to learn more about this tax strategy, please call Susan at...