Category: Tax

Recent Tax Law Changes and Mid-Year Healthcare Update

At the end of the last Congressional session, there were a couple of new bills signed into law by President Obama. In these bills, there were a few tax items passed that may affect you First, if you’ve ever been in college or had kids in college, you might have been able to take an […]

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IRS Warns of Scams – Beware!

Last week the IRS issued a newswire informing taxpayers to be wary of tax scams. In the past we’ve warned clients about emails or letters that appear to be on IRS letterhead. Now, scammers are more creative and they are calling taxpayers and asking for payments or personal information over the phone. These phone calls […]

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Tips for Maximizing your Charitable Deduction

Charitable Giving is on the Rise – Tips for Maximizing your Charitable Deduction by Giving Personal or Business Items on Hand. According to the Lilly Family School of Philanthropy at Indiana University, charitable contributions have finally eclipsed their pre-recession record high with Americans donating an estimated $358 billion to charitable organizations in 2014, compared to […]

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Venturing into a new state?

As your construction company grows, you may be presented with opportunities that are outside your normal state of operations. While it may be a good idea to bid on an out-of-state project, you’ll want to consider a number of different factors before making the final decision to pursue an out-of-state venture. Please continue reading as […]

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Identity Theft and Your Tax Return

We hear a lot about identity theft in the news. Part of the identity theft crisis can even involve your income tax return. Thieves will file fraudulent tax returns using other taxpayers’ social security numbers in order to claim refunds. Then when that taxpayer goes to actually file his/her tax return, the Internal Revenue Service (IRS) […]

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Tax Increase Prevention Act of 2014

With the recently enacted “Tax Increase Prevention Act of 2014,” Congress has once again extended a package of expired or expiring individual, business, and energy provisions known as “extenders.” The bill now awaits President Obama’s signature and it is expected he will sign it into law in the very near future.  The extenders are a […]

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Property Tax Assessment Date

Personal property tax assessment date will be changing. Currently, personal property taxes are assessed on March 1 and the returns are due on May 15. Effective January , 2016, personal property taxes will now be assessed on January 1 and the return due date will continue to be May 15. Additionally, local governments will be […]

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How to protect your tax-exempt status

What would happen if your nonprofit lost its federal tax-exempt status? The thought might send shivers down your spine, and it should. Here are reminders about some of the actions that are required — or should be avoided — to maintain your 501(c)(3) status. A titanic loss If your 501(c)(3) designation is revoked, your nonprofit […]

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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 manufacturing company, what does that mean? It may entail expanding your physical plant or warehouse or introducing new products. It […]

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Pain-Free Mileage Tracking with MileTrack GPS

by Jim Wagoner, CPA | Partner, Director of Tax Services Group We recently were introduced to Dan Martin who has come up with an interesting product.  We haven’t tested it out, but we thought it might be of interest to some of you. Tracking mileage for reimbursement and tax purposes can be a real pain, […]

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