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TAX TIME IN THE SUMMER?

How planning in the summer can lead to savings next spring Most Americans don’t spend their summer months thinking about taxes. Once April 15 is behind you, your mind turns to more cheerful subjects and you take a much needed break from worrying about what you owe to old...... Read More

2016 MILEAGE RATES RELEASED

The IRS has announced that the optional mileage allowance for owned or leased autos (including vans, pickups or panel trucks) will decrease to 54¢  per mile for business travel after 2015. This rate can also be used by employers to provide tax-free reimbursements to employees who supply their own...... Read More

Making Financial Knowledge Power for Your Business

How good information can drive great decisions In today’s economy, success isn’t accidental. It’s the result decisions made which are based on the best information possible. As a business owner, so much depends on the decisions you make. Your decisions not only affect you, they affect your family, your...... Read More

President Signs the New PATH Act of 2015

Congress passed and the President signed the “Protecting Americans from Tax Hikes Act of 2015” (PATH Act). Many of the provisions in the new Act will affect most businesses and individuals in some fashion. We are delighted to share the news of the passage of this new Act as...... Read More

TAX SCAM TARGETS HOOSIERS

A national telephone scam is targeting Indiana communities. Several Hoosiers have received threatening telephone calls from scam artists claiming to represent the Indiana Department of Revenue. The department does not call taxpayers without first corresponding through mail and does not threaten to use local law enforcement. “It’s important that...... Read More

2015 RETIREMENT PLAN LIMITS

The IRS has released the 2015 retirement plan limits. The annual compensation limit is $265,000. Elective deferrals to 401(k), 457 and 403(b) plans are limited to $18,000. The catch-up contribution to a 401(k) or 403(b) plan for persons age 50 or older is limited to $6,000. The limit on...... Read More

2015 MILEAGE RATES RELEASED

The IRS has announced that the optional mileage allowance for owned or leased autos (including vans, pickups or panel trucks) will increase by 1.5¢ to 57.5¢ per mile for business travel after 2014. This rate can also be used by employers to provide tax-free reimbursements to employees who supply...... Read More

2014 TAX EXTENDERS SIGNED INTO LAW

The President recently signed into law the “Tax Increase Prevention Act of 2014,” once again extending a package of expired or expiring individual, business, and energy provisions known as “extenders.” The extenders are a varied assortment of more than 50 individual and business tax deductions, tax credits, and other...... Read More

TIME TO BEGIN WORKING ON THOSE 2014 1099’S

Now is the time to begin compiling all of the information for 2014 1099’s.  The deadline for submitting your 1099’s per IRS Guidelines to the recipient is no later than January 31, 2015.  The compiled reports of 1099’s with Form 1096 is due to the IRS on February 28,...... Read More

QUICKBOOKS 2015 – WHAT’S NEW AND IMPROVED?

As a QuickBooks ProAdvisor, I look forward to the new features and improvements of QuickBooks each year.  With the release of QuickBooks 2015 occurring just a few weeks ago, we are all still learning this version, but are looking forward to some of the new features including enhanced reports;...... Read More

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