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Don’t Put All of Your Eggs Into One Basket

By Larry Greenwalt, CPA, Chairman of the Board and Jim Wagoner, CPA, Partner, Director of Tax Services Group A recent Gallop poll reported that fewer Americans think they can rely on their 401(k)’s...

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How to Minimize the 3.8% Tax on Investment Income

By Brandon Cook, CPA | Partner, Tax Services Group and Larry Greenwalt, CPA | Chairman of the Board Many taxpayers experienced the impact of the Obamacare tax on investment income (defined below) when...

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Crossing the (State) Line

If expansion plans call for doing business in other states, factor in tax liability by Marie Jett, CPA | Principal and Anita Sherman, CPA | Managing Partner When you say you want to grow your...

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IRS Issues 2016 Benefits and Contributions Limits

The Internal Revenue Service announced the cost-of-living adjustments (COLA) for tax year 2016, that apply to dollar limits for 401(k) and other retirement plans. Most of the plan limits will remain...

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Prepare for valuation issues in your buy-sell agreement

Every business with more than one owner needs a buy-sell agreement to handle both expected and unexpected ownership changes. When creating or updating yours, be sure you’re prepared for the valuation...

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2019 Social Security Wage Base & Retirement Updates

The Social Security Administration announced that the 2019 social security wage base for calculating the social security tax (OASDI) will increase to $132,900, up from $128,400 for 2018. For 2019,...

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Social Security card changes and projected wage base

Social Security cards have been the core document used to verify identity but that could change. Currently, the cards are not very durable when compared to other forms of ID or IDs from other...

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Potential retirement saving impacts of the SECURE Act

Last month the House of Representatives passed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act), a bill that would be the biggest change to the American retirement system...

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Indiana Unemployment Website and UC-1 filing process update

The Indiana Department of Workforce Development changed the Uplink website and process for filing quarterly Indiana unemployment tax returns effective 1st quarter 2019. The major change was that you...

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U.S. Department of Labor Issues Final Overtime Rule

On September 24, 2019, the U.S. Department of Labor announced a final rule to make 1.3 million American workers newly eligible for overtime pay. The final rule updates the earnings thresholds necessary...

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Ten Indiana Counties Increase Tax Rates as of January 1, 2020

The Indiana Department of Revenue updated Departmental Notice #1 which assists withholding agents in determining the correct amount of Indiana county income tax to withhold from an employee’s wages by...

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The New W-4

The new W-4 for 2020 is officially here. The IRS has redesigned the form to better match the changes from the Tax Cuts and Jobs Act. The biggest change to the form is the elimination of allowances....

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Indiana Department of Workforce Development Assistance to Employers during...

Last week the Indiana Department of Workforce Development (IDWD) issued a press release regarding their assistance to employers during this time. IDWD is asking employers who need to temporarily close...

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Families First Coronavirus Response Act

On March 18, 2020 the Coronavirus relief package was signed into law. Titled the “Families First Coronavirus Response Act”, the act has created a temporary sick paid leave program and a temporary...

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CARES Act and SBA Lending for Small Businesses

The Coronavirus Aid, Relief, and Economic Security Act (CARES) was signed into law on March 27th.  While there are numerous provisions contained in the CARES Act, this article will focus only on small...

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IMPORTANT – Summary of Tax and Loan Provisions in CARES Act Signed on Friday,...

Some Good News for Many Individuals and Organizations Resulting from COVID-19 On Friday, March 27, the President signed the $2.2. trillion “Coronavirus Aid, Relief, and Economic Security Act” also...

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How Could Employee Layoffs Due to COVID-19 Affect Your Retirement Plan?

Employers are facing many challenges due to the recent spread of COVID-19.  If you have had to reduce your workforce as a result of the financial impact of the virus, there may be repercussions that...

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IMPORTANT ALERT FOR ANY WHO HAVE ALREADY RECEIVED PAYCHECK PROTECTION PROGRAM...

President Trump signed the Paycheck Protection Program and Health Care Enhancement Act (“Enhancement Act”) on April 24th. This legislation infuses $310 billion into the Paycheck Protection Program...

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Paycheck Protection Program Flexibility Act Passes Senate Easing PPP Loan...

Wednesday night, the U.S. Senate passed the House’s Paycheck Protection Flexibility Act bill, easing and extending the Payroll Protection Program (PPP) loan forgiveness process. The bill is heading to...

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Gov. Holcomb Approves Small Business Restart Fund

Gov. Holcomb approved $30 million in federal funding made available through the CARES Act to small business restart grants, helping accelerate the speed of economic recovery activity by providing...

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