Cox & Company

Cox & Company Cox & Company provides accounting, auditing, business valuation, tax planning and preparation and ot

For more than 20 years Cox & Company has been providing individualized services to our clients. No two situations are the same, and that's a concept we fully understand. We will not attempt to place your situation into a pre-defined "box" but rather will create a box that results in a perfect fit for you. No matter if you are an individual, small to medium sized business or a combination thereof, we have the knowledge and expertise to assist you in virtually all financial aspects (taxes, estate planning, succession planning, mergers and acquisitions, valuations, financial statements). Please visit our website (www.coxcpa.com) for additional information or contact us and we'd be glad to discuss how our services can be of value to you.

Retirement is far from most teenagers’ minds when they get their first jobs. But those early earnings create a significa...
10/09/2026

Retirement is far from most teenagers’ minds when they get their first jobs. But those early earnings create a significant tax-advantaged savings opportunity. Even modest IRA contributions now can substantially multiply over time. For example, just $2,000 contributed to an IRA earning 5% annually will grow to nearly $23,000 50 years later. A Roth IRA can be especially powerful because qualified distributions will be tax-free. For 2026, the annual contribution limit for IRAs is the lesser of taxable compensation or $7,500. 2026 contributions can be made until April 15, 2027, but the income to support them must be earned by Dec. 31, 2026. Contact us to discuss tax-smart planning for your teen.

Business owners often have more complex tax situations that can trigger an IRS audit. The good news is that with proper ...
10/08/2026

Business owners often have more complex tax situations that can trigger an IRS audit. The good news is that with proper preparation, detailed records and professional guidance, you can make the process far less stressful.

Some returns may be selected randomly, but the IRS also has some audit hot buttons. Examples include significant differences between current and prior-year returns, repeated business losses, profit margins and expenses that differ substantially from similar businesses, and mathematical errors.

If you receive an IRS notice, don’t panic; contact us immediately. We can help you understand the issues, gather the needed documents and respond to the inquiries effectively.

Watch out for the growing reach of the 3.8% net investment income tax (NIIT). The income thresholds haven’t changed sinc...
09/30/2026

Watch out for the growing reach of the 3.8% net investment income tax (NIIT). The income thresholds haven’t changed since the tax took effect in 2013, so it’s hitting more taxpayers. If you have net investment income (NII) and your 2026 modified adjusted gross income (MAGI) exceeds $200,000 ($250,000 if you’re married and file jointly, half that if you file separately), you’ll be subject to the NIIT on the lesser of your NII or the amount by which your MAGI exceeds the applicable threshold. Some NII examples are taxable interest, dividends, and gains from stocks, bonds and mutual funds. Year-end planning may help reduce your MAGI or NII — and the NIIT’s impact. Contact us to learn more.

If you want to sell your business, receiving the purchase price over time in an installment sale may allow you to spread...
09/28/2026

If you want to sell your business, receiving the purchase price over time in an installment sale may allow you to spread your gain — and the related tax — over several years.

The buyer typically makes a down payment and issues a note for the balance. Each principal payment generally includes a tax-free return of basis and taxable gain; interest on the note is taxed separately as ordinary income. This arrangement may also expand the pool of buyers or help you obtain a higher price. But depreciation recapture may be taxable upfront, and you assume the risk that the buyer won’t pay.

Contact us to discuss the pros and cons and determine the optimal deal structure for your situation.

Tax law changes taking effect this year will increase alternative minimum tax (AMT) risk for some higher-income taxpayer...
09/22/2026

Tax law changes taking effect this year will increase alternative minimum tax (AMT) risk for some higher-income taxpayers. For 2026, the AMT exemption phaseout thresholds are reduced and the exemption phases out twice as fast as for 2025. If you may be affected, consider the AMT before implementing income and deduction timing strategies. A move that would reduce your 2026 regular tax might provide little or no benefit under the AMT — or could trigger it. Before acting, determine whether you may owe the AMT for 2026 or 2027 and how the move would affect both calculations. We can help project your regular tax and AMT liability for both years and the potential impact of timing strategies.

Does your business accept, spend or invest in cryptocurrency? The IRS scrutinizes digital-asset transactions. Business t...
09/21/2026

Does your business accept, spend or invest in cryptocurrency? The IRS scrutinizes digital-asset transactions. Business tax returns include a question about digital assets, and brokers must report certain transactions on Form 1099-DA.

Digital assets are treated as property for federal tax purposes. Cryptocurrency accepted for goods or services is taxable income based on its fair market value when received. Selling, exchanging or spending it may create a separate gain or loss. Crypto payments to employees and contractors are subject to the usual tax-reporting rules and can produce a business gain or loss. Contact us to review your 2026 digital-asset activity and reporting obligations.

If restricted stock is part of your compensation, considering the potential tax consequences well before Dec. 31 is a go...
09/15/2026

If restricted stock is part of your compensation, considering the potential tax consequences well before Dec. 31 is a good idea. You may have decisions to make if: 1) you’ve recently received an award or are expecting one soon, 2) your restricted shares have vested in 2026 or will vest before the end of the year, or 3) you’ve sold shares this year or are considering a sale. The timing of these events and certain decisions you make — such as the Sec. 83(b) election — can affect both the amount and type of taxable income you must report. They also may provide planning opportunities that will affect your 2026 and future taxes. Contact us for assistance.

Paying dividends isn’t the only way to take cash out of your C corporation. Corporate distributions are generally taxabl...
09/14/2026

Paying dividends isn’t the only way to take cash out of your C corporation. Corporate distributions are generally taxable to you to the extent of your company’s “earnings and profits,” and your company can’t deduct them.

To avoid dividend treatment, consider having your business repay bona fide loans you’ve made to it or taking out properly structured loans from it. You might also increase your compensation (as long as it’s still “reasonable”) or qualifying tax-free fringe benefits — or lease or sell assets to your business.

Before proceeding, evaluate the tax implications for you and your corporation. Contact us to review the applicable rules and determine what’s right for your situation.

As you review your business’s 2026 expenditures, pay close attention to work performed on buildings and equipment.You ca...
09/11/2026

As you review your business’s 2026 expenditures, pay close attention to work performed on buildings and equipment.

You can generally deduct ordinary repairs and maintenance expenses, but you must capitalize property improvements, including betterments, restorations and adaptations. Safe harbors may allow current deductions for some costs. Certain capitalized improvements may also qualify for a full first-year deduction through bonus depreciation or Sec. 179. Proper classification may affect recordkeeping, potential recapture and state tax deductions.

Contact us to help classify your 2026 expenditures and discuss potential tax-planning moves before year end.

If you work remotely and split your time between two states during the year, it can create state tax issues. A state wit...
09/08/2026

If you work remotely and split your time between two states during the year, it can create state tax issues. A state with an income tax generally can tax all income of its residents and income earned within its borders by nonresidents. Residency rules vary but may consider your domicile, days spent in the state and whether you maintain a home there. Your domicile is generally your true, fixed, permanent home — the place you intend to return to. Some states may treat you as a resident for income tax purposes if you maintain a home and spend a specified number of days there. Contact us to review your situation and help determine whether you may have tax obligations in more than one state.

Address

935 Mezzanine Drive, Ste C
Lafayette, IN
47905

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

Telephone

(765) 449-4495

Website

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