Helping small businesses with all things bookkeeping and tax. CPA Firm (Lindsay & Powell LLC) in Indiana.
08/09/2019
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The Marriage Penalty is Alive and Well Whether you're changing your filing status in 2019 because of marriage, divorce or another event (or it's staying the same), understanding how the marriage penalty works is key for your tax planning.
08/02/2019
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A Smarter College Housing Option Are you or someone you know paying for college housing? Buying property, instead of renting, has some hidden advantages that can save some money.
07/26/2019
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Avoid the Pitfalls of Selling Property to Family Selling or transferring property to family is a common practice, but these transactions can have some unfavorable consequences if not planned for in advance. Here are four common related party situations and tips to help you avoid tax trouble.
07/19/2019
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IRS ALERT: Two New Tax Scams In a recent release, the IRS is raising awareness regarding a couple new tax scams targeting taxpayers. Here is what you need to know.
07/12/2019
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Retirement Basics: Understanding Tax Efficiency Managing your taxable income during retirement can be complicated. Social Security retirement benefits, retirement plan distributions and supplemental income can quickly impact the amount of tax you must pay. Here is something to consider.
07/05/2019
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Don't Fall for These 5 Audit Myths Separating truth from fiction about IRS audits is an important exercise for everyone. Here are 5 audit myths that, if believed, can cost you during an audit.
06/28/2019
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4 Awesome Summertime Tax Saving Tips Along with the warm weather, summer brings some unique opportunities to save some taxes. Here are four ideas to work into your summer tax planning strategy.
06/21/2019
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3 Great Charitable Deduction Ideas Despite what you may have heard from friends or family, you can still claim generous tax benefits for charitable contributions. Here are three great ideas.
06/14/2019
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Replacing Lost Tax Breaks for Your Growing Children Tax breaks drop dramatically as your children grow up, but you may be able to offset the losses with some timely tax planning.
06/07/2019
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Reminder: Second Quarter Estimated Taxes Due - Now is the time to make your estimated tax payment If you have not already done so, please plan to make your second quarter estimated tax payment. The due date is Monday, June 17th.
05/31/2019
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2020 Health Savings Account Limits - New contribution limits are on the horizon The ever-popular health savings accounts (HSA) limits are set for 2020. The new limits increase the amounts you can save and pay for qualified medical expenses with pre-tax dollars.
05/24/2019
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2018 Audit Rates - Don't get complacent... The IRS reported audit rates declined last year for the seventh year in a row and reached their lowest level since 2002. But don't get complacent. A closer look at the IRS data release reveals some audit pitfalls to beware. Here is what you need to know.