Online Sales Tax

Charges of “online sales tax” have always been a challenge by state tax departments. A US Supreme court case has upheld that states cannot enforce a seller to charge and collect sales tax if the seller does not have a physical presence in the buyer’s state. This week, the State of Indiana filed a lawsuit in the

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Criminal Payroll Tax Cases Keep On Coming

Criminal payroll tax cases keep on coming. One case disbarred an attorney, but the courts still held the employer responsible to paying employee trust taxes. A disbarred attorney who owned a Pennsylvania payroll company has been sentenced to 8 years in prison, plus ordered to pay nearly $5.3 million to the IRS. Robert McAndrew, Jr. pleaded

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Social Security Wage Base To Increase In 2018

The Social Security Administration’s Office has projected, under all three of its methods of forecasting, the Social Security wage base will increase from $127,200 for 2017 to $130,500 for 2018. Background The Federal Insurance Contributions Act (FICA) imposes two taxes on employers, employees, and self-employed workers—one for Old Age, Survivors and Disability Insurance (OASDI; commonly

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Impressive News For Accounting Professionals In The State Of Indiana

The Indiana Board of Accountancy approved a rule change in July 2016 that allowed competency-based ethics education to count as an option toward CPA license renewal. Last month, Indiana broadened that original rule change by becoming the first state in the nation to adopt legislation to permanently approve competency-based learning as an option for CPA

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Trump Tax Reform Priorities

Tax reform has been a hot topic and a high priority for the Trump administration. It recently released a one-pager outlining its priorities for reforming individual and business taxes to help grow the economy, simplify tax rules, provide relief to middle-income families, and enhance global competiveness. Although the “proposal” is short on details, it offers

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Stop ID Theft

The Indiana Department of Revenue continues to implement security measures to protect Hoosiers and the state from identity theft and identity fraud. Since its inception in 2014, the Identity Protection Program has stopped more than $100 million in fraudulent refund attempts.  Identity theft occurs when someone obtains your personal information – such as your Social

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Can You Deduct The Cost Of Your MBA?

The Masters of Business Administration or MBA degree is the most popular graduate degree in the U.S. The growth of distance education programs and the increased accessibility of postsecondary education coupled with the appeal of the degree amongst working professionals promise to keep a steady flow of taxpayers who want to deduct the cost of

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Indiana Tax Changes to Fund Highway & Bridge Infrastructure

Indiana roadways and bridges are a crucial part of Indiana’s economic success. Access to major highways, minimal traffic congestion, increased highway safety and lower auto repair costs are often a business priority. To address these issues, Indiana Governor Eric Holcomb signed Indiana House Bill 1002 which impacts motor fuel storage businesses, motor carrier operations and

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Fireworks Public Safety Fee in Indiana

Are you ready to light up the sky this Fourth of July? For many Americans, Independence Day is celebrated with family, friends, backyard cookouts and most of all … fireworks! Items detonated or burned to produce a visible or audible effect are considered fireworks. These items may include: Firecrackers Roman candles Missile-type rockets Wire sparklers

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What Are Estimated Taxes?

The Indiana income tax system is a “pay-as-you-go” system. Taxes are automatically taken out of our paychecks. However, if you have income from non-wage sources, such as from dividends, interest, farm income, contract work , or rental income, no taxes are withheld. The “pay-as-you-go” requirement still applies. If you have income not subject to withholding

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