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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Should You E-File Your Tax Returns?

With just two weeks remaining until tax returns are due, let’s see how the numbers add up with respect to tax filings within Indiana: More than 3.2 million Indiana individual tax returns are filed each year. Eighty-five percent of these returns are filed electronically. So, why are taxpayers choosing to file electronically? E-filed returns are processed

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Where’s My Refund?

This year, approximately two-thirds of Indiana taxpayers are eligible to receive state tax refunds. Filing taxes electronically and choosing to have your refund deposited directly into a checking or savings account is the fastest and safest method to receive your money. The Indiana Department of Revenue takes an average of 14 days to process an

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Questions To Ask Your Tax Preparer

Many taxpayers get help when preparing and filing their taxes. Regardless of who prepares your taxes, you are ultimately responsible for: the information provided on your tax return, filing your tax return (or extension) on time, and paying any taxes, interest, or penalties due. Here are five questions to ask a tax preparer before you

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