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Changes to the Department of Workforce Development Reporting Requirements

March 15, 2019

Beginning in spring 2019, the Indiana Department of Workforce Development (DWD) has rolled out a new platform in which state unemployment tax must now be submitted by all employers. The new platform will allow employers full online access to Unemployment Insurance account information, including report submission, tax payments and information on account issues. Updates to…

The Tax Cuts and Jobs Act and Nonprofit Entities

February 28, 2019

The “Tax Cuts and Jobs Act” (TCJA) has a far-reaching impact to nonprofit entities that was not publicized until December 2018. Embedded in the TCJA were items regarding non-deductible parking fringes. In this verbiage, nonprofits were mentioned and on December 10, 2018 the IRS provided guidance to assess the impact on nonprofits that provide parking…

What Do You Love?

February 13, 2019

What do you love? Each year on Valentine’s Day it’s nearly impossible to avoid the barrage of hearts and hues of red and pink that flood the world over. Candy and flowers and chocolates suddenly appear in every retailer from the grocery store to the gas station. The signs of love are everywhere. For the…

Qualified Business Income Deduction

January 30, 2019

One of the highlights of the new tax law is a great new deduction for business owners called the Qualified Business Income Deduction. It is a 20% deduction against the net income of a taxpayer’s qualifying business. For high income taxpayers there are certain rules that apply if they have what is known as a…

1099 Due Date is Approaching

January 18, 2019

Just a reminder that the due date for filing most 1099 forms is almost here.  Any 1099-MISC forms with an entry in Box 7 for non-employee compensation need to BOTH be furnished to the recipient AND filed with IRS by January 31. These forms need to be completed for anyone your business paid any independent…

Reasonable Compensation

January 7, 2019

As an S Corporation owner, reasonable compensation is likely a concept that has been discussed with you. With the passage of the Tax Cuts and Jobs Act, this topic may be one that needs further explored. A 20% deduction is now available based on your Qualified Business Income, essentially net taxable profit of your entity.…

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"Huth Thompson has also been very helpful as we address issues that occasionally surface with a small business. We wear many hats in a small organization and cannot be experts in all aspects of the business, so it is helpful to have their expertise on numerous issues, from board governance and oversight to developing and maintaining internal controls."

-  Mark W.

"The entire staff is professional and extremely knowledgeable in their field. They are committed to supporting nonprofit organization in our community. They understand our unique needs and appreciate the challenges of limited resources. Regardless, they provide high quality services to all of their clients."

-  Dick R.

"The team at Huth Thompson takes an interest in our business and is a valuable contributor to our ongoing success. I truly appreciate having a local firm of talented personable professionals that I can count on to provide timely and accurate support to our operational strategic needs."

-  Tim E.

"The individuals we work with at Huth Thompson LLP from the front desk, to the accountants, administrative services and tax advisors are top notch and very professional. I would highly recommend Huth Thompson LLP to anyone seeking the services they have to offer."

-  Phyllis S.

"I refer all of my family and friends to Huth Thompson. Their accountants' knowledge and customer service is unmatched. They're always going the extra mile and I appreciate that. If you have a business they also have a great business solutions services department with bookkeeping, payroll, QB, and tax planning all wrapped up into one package. It's a great cost effective way of running your business." 

-  Megan H. 

"Huth Thompson is at the top of their field! They are knowledgeable and you can be sure they are on top of new regulations, providing the best accounting and tax services. I have and will continue to refer them to my colleagues."

- Kimi H.

"Very happy I switched to Huth Thompson a few years ago. My business and personal taxes are in great hands with the team at Huth."

- Tyler C.

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