Blog

2020 – 09/29

2020 – 09/29

New vehicles are now available for a tax break. On its website, the IRS has added several 2021 model year Honda and Volvo vehicles to the list of vehicles eligible for the plug-in electric drive motor vehicle tax credit. The tax code provides a credit to the purchaser...

read more
2020 – 09/11

2020 – 09/11

The IRS has postponed, until Jan. 15, 2021, the due date for reporting and paying the excise taxes on minimum required contributions to a single employer defined benefit plan. The tax is imposed on employers that maintain such plans as follows: 10% of the aggregate...

read more
2020 – 09/11

2020 – 09/11

Have you been unemployed during the COVID-19 pandemic? If so, it’s a good idea to have tax withheld from your unemployment compensation now to avoid a tax-time surprise. Withholding is voluntary. By law, unemployment benefits are taxable and must be reported on your...

read more
2020 – 08/31

2020 – 08/31

The IRS has released guidance on deferring employee Social Security tax withholding under President Trump’s executive action. The guidance in Notice 2020-65 is brief and many employers still have questions and challenges about how, and whether, to implement deferral...

read more
Back-to-school tax breaks on the books

Back-to-school tax breaks on the books

Despite the COVID-19 pandemic, students are going back to school this fall, either remotely, in-person or under a hybrid schedule. In any event, parents may be eligible for certain tax breaks to help defray the cost of education. Here is a summary of some of the tax...

read more
The tax implications of employer-provided life insurance

The tax implications of employer-provided life insurance

Does your employer provide you with group term life insurance? If so, and if the coverage is higher than $50,000, this employee benefit may create undesirable income tax consequences for you. “Phantom income” The first $50,000 of group term life insurance coverage...

read more
Are scholarships tax-free or taxable?

Are scholarships tax-free or taxable?

COVID-19 is changing the landscape for many schools this fall. But many children and young adults are going back, even if it’s just for online learning, and some parents will be facing tuition bills. If your child has been awarded a scholarship, that’s cause for...

read more

Get In touCh

Contact us to find out more

5975 Castle Creek Parkway North Drive, Suite 355
Indianapolis, IN 46250

Phone: 317.805.0805
Fax: 317.805.0802

Please contact us using the form to the right . Someone will respond within one business day.

Visit us on LinkedIn: