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Blog
Avoid Underpayment Penalties
A year-end adjustment to your withholding could help you avoid a penalty.
Tick-tock. Time Is Almost Up.
What happens if you fail to file your return by October 15, the extended due date? One consequence: Unless a disaster-relief exception applies or you have a valid reason, you may be charged penalties and interest.
Keeping Tax Records Like the Pros
If you want to give your tax recordkeeping skills a performance boost, do what accounting professionals do.
Don't Panic if the IRS Sends you a letter
I recently received a notice in the mail from the IRS. To be honest, I panicked...and I work for a CPA firm. I knew I could take the notice to work the next day and get expert guidance. I can't imagine how someone who does not work for a CPA firm feels upon pulling...
IRS Eases Reporting Requirement for Small Businesses
This post discusses the IRS requirements for employers to report the cost of coverage under an employer-sponsored group health plan on the employee’s W-2 for 2012.
Is a Like-Kind Exchange a Good Option for Your Business?
Please contact our office at (317) 782-3070 if you would like to determine whether like-kind exchanges can be a good strategy for your business as well as insights on their tax impact.
Six Tips for Charitable Taxpayers
Read on for six things the IRS wants taxpayers to know about deductibility of donations.
Don't miss the Sept. 15th deadline
Taxes are due on self-employment income September 15th, 2012. There is no income tax withholding on self-employment income, but that doesn't mean you're not required to pay taxes during the year. Self-employed individuals generally must make quarterly estimated tax...
Combining Business and Pleasure
Check the tax savings of combining business and pleasure on the same trip this summer. Within the U.S., if the primary purpose of the trip is business and you add on a side trip or an extra few days for pleaseure, you can deduct all the travel costs to and from your...
Keep Repairs Separate From Major Improvements
Keep repairs separate from major improvements. Ordinary repairs and maintenance on business equipment and buildings are deductible business expenses. Improvements which materially add to the value of the propoerty or significantly prolong its useful life must be...