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Year-End Financial Checklist: 4 Money Moves You Should Prioritize Now

December 21, 2020

If you can’t wait for 2020 to be over, you’re certainly not alone. But don’t let the myriad terrible things about the year distract you from taking care of important end-of-year financial moves. We’ve all been guilty of falling short on the plans and promises we made for what we’d accomplish while locked down, but…

The Charitable IRA

June 24, 2020

In late 2019, Congress made some significant tax changes taking effect in the 2020 tax year that may apply to many retiree taxpayers. The Secure Act of 2019 made changes to Required Minimum Distributions (RMDs) as well as Qualified Charitable Distributions (QCDs) that are worth noting. One of the changes worth mentioning relates to the…

Should I check my Tax Withholding during the Year?

February 27, 2020

One of the first things you do when you start a new job is your employer will have you complete some paperwork. One of those forms you complete is called a W-4 form. This form tells your employer how much federal income tax to withhold from your paycheck based on the amount of wages paid.…

Increased Indiana Tax Deduction for Military Retirees and their Surviving Spouses

January 31, 2020

On May 1, 2019, Governor Holcomb signed into law House Bill No. 1010 which included changes to the state income tax deduction for service members and their surviving spouses. An individual, or the individual’s surviving spouse, is entitled to a state adjusted gross income tax deduction for income that was included on their federal tax…

Changes That May Affect Your 2019 Taxes

January 22, 2020

When the 2018 tax reform law was passed, it had many of our clients taking a closer look at how they did their taxes. While most of those changes went into effect last year, there are still a few things that will be different when you file your 2019 taxes that are due April 15,…

TCJA: Parking Tax Repealed

December 31, 2019

Part of the government funding legislation that the President recently signed into law included a provision repealing Section 512(a) (7), commonly referred to as “the parking tax.” The repeal of the parking tax was included in the ‘Further Consolidated Appropriations Act of 2020,’ which contained a number of tax provisions. Section 512(a) (7) was originally…

The SECURE Act and What It Means for Your Retirement

December 30, 2019

Employer-sponsored retirement plans and IRAs are valuable tools successfully used by millions of Americans to help save for retirement.  Attached to the spending bill passed by Congress was the Setting Every Community Up For Retirement Enhancement Act of 2019 (SECURE Act).  The intent of the law is to make it easier for Americans to use…

1099’s – What You Should Know

December 19, 2019

Year end is right around the corner! Federal regulations require all 1099’s to be to the recipients and the government by 1/31/2020.

Properly Accounting for Taxable Fringe Benefits

December 6, 2019

Every year we ask the question: Did you have any taxable fringe benefits that need to be reported on your employee’s W-2’s? A lot of employers aren’t sure how to do this properly, so we are here to help. Some of the most common taxable benefits are: Bonuses– considered a part of an employee’s compensation.…


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