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Act soon to save 2018 taxes on your investments

Do you have investments outside of tax-advantaged retirement plans? If so, you might still have time to shrink your 2018 tax bill by selling some investments ― you just need to carefully select which investments you sell. Try balancing gains and losses If you’ve sold investments at a gain this…
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6 last-minute tax moves for your business

  Tax planning is a year-round activity, but there are still some year-end strategies you can use to lower your 2018 tax bill. Here are six last-minute tax moves business owners should consider: Postpone invoices. If your business uses the cash method of accounting, and it would benefit from deferring…
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New Heavy Equipment Rental Excise Tax in Indiana for 2019

Starting January 1, 2019, Indiana will implement a new excise tax on the rental of heavy equipment and construction equipment. The new Indiana excise tax will be assessed on equipment that is rented without an operator and from a location in Indiana, and the tax will be 2.25% of the…
Income Tax Forms

IRS Red Flags that Trigger an Audit

What is an Audit by the IRS? The IRS website defines an audit as “a review/examination of an organization’s or individual’s accounts and financial information to ensure information is reported correctly according to the tax laws and to verify the reported amount of tax is correct.” The IRS conducts audits…

Year-End Tax Planning Checklist for Small Business Owners

When Does the Tax Year Start and End? The IRS defines a “tax year” as an annual accounting period for keeping records and reporting income and expenses. There are two types of tax years you can use to determine the end of the tax year: Calendar year: 12 consecutive months…
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