The IRS has issued new guidance updating the rules for using optional standard mileage rates when calculating “above-the-line” deductions for the costs of operating an automobile for certain purposes. IRS […]
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Many manufacturers take advantage of the federal income tax credit for increasing research activities, more commonly referred to as the “R&D credit.” Enacted back in 1981, the R&D credit was […]
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At this time of year, many business owners are trying to do what they can to save tax for the year. Under current tax law, there are two valuable depreciation-related […]
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If you are thinking about converting a C-Corporation to an S-Corporation there are several issues that must be taken into consideration before making the election. Although S-corporations can provide substantial […]
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Are you 70 ½ or older and charitably minded with investments in an IRA? With fewer taxpayers itemizing because of the doubling of the standard deduction, using your required minimum […]
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During the first tax-filing season under the Tax Cuts and Jobs Act (TCJA), many businesses wrestled with how the law’s sweeping changes would impact their bottom lines. Before the beginning […]
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Achieving a Better Life Experience (ABLE) account is a tax-free account that can be used for expenses related to disability without losing eligibility for government benefits. ABLE accounts can be […]
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As the year comes to a close, it is important to review options that are available to lower your tax burden. One easy way to adjust your taxable income for […]
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You can reduce taxes and save for retirement by contributing to a tax-advantaged retirement plan. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a […]
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A month after the new year begins, your business may be required to comply with rules to report amounts paid to independent contractors, vendors, and others. This involves sending 1099-MISC […]
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On January 21, 2025, Indiana Governor Mike Braun signed Executive Order 25-22, addressing the provision of charity care by nonprofit hospitals in the state. The order acknowledges that Indiana does […]
By Andrew Brock, CPA, Senior Manager at Blue & Co. As the new year begins, it is often a time for setting personal and professional goals. The colloquial saying behind […]
The 2025 Grantee recertification period for Consolidated Health Centers, Federally Qualified Health Centers & Look-Alikes, Ryan White Clinics, Comprehensive Hemophilia Treatment Centers, Native Hawaiian, Black Lung Programs, Urban Indian, and […]
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