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Splitting An Inherited IRA Before Year-End Can Improve Tax Results For Each Beneficiary

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December 31, 2017 is an important deadline for individuals who inherited an IRA from an IRA owner who died in 2016. Where there are multiple beneficiaries for the IRA, splitting up the account into several accounts no later than the end of this year can yield important tax and other benefits for each beneficiary. Background

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What You Need To Know About Year-End Charitable Giving In 2017

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Charitable giving can be a powerful tax-saving strategy: Donations to qualified charities are generally fully deductible, and you have complete control over when and how much you give. Here are some important considerations to keep in mind this year to ensure you receive the tax benefits you desire. Delivery Date To be deductible on your

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You May Need To Add RMDs To Your Year-End To-Do List

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As the end of the year approaches, most of us have a lot of things on our to-do lists, from gift shopping to donating to our favorite charities to making New Year’s Eve plans. For taxpayers “of a certain age” with a tax-advantaged retirement account, as well as younger taxpayers who’ve inherited such an account,

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7 Last-Minute Tax-Saving Tips

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The year is quickly drawing to a close, but there’s still time to take steps to reduce your 2017 tax liability — you just must act by December 31: Pay your 2017 property tax bill that’s due in early 2018. Make your January 1 mortgage payment. Incur deductible medical expenses (if your deductible medical expenses

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Ethical Behavior In Today’s Environment

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Read below from Manager Jason Bainter, a post he wrote in 2013, which is a good reminder and still relevant today: It seems as though lately I am reading a lot more about fraudulent behavior and how CPAs can make sure they are being diligent about detecting fraudulent behavior.  The August 2013 Journal of Accountancy

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How To Prevent Becoming A Victim Of Identity Theft

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Identity theft has become commonplace, and protecting yourself from fraud is crucial now more than ever. According to Javelin Strategy & Research, 15.4 million consumers were victims of identity theft or fraud last year, the highest figure recorded since the firm began tracking fraud instances in 2004. Here are a few suggestions to decrease the

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CollegeChoice 529 Plan

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Are you looking for a last-minute gift or tax deduction this holiday season? Get both by contributing to a CollegeChoice 529 Direct Savings Plan, sponsored by the Indiana Educational Savings Authority. Taxpayers who contribute to a CollegeChoice 529 Plan may be eligible for a 20 percent state tax credit, up to a maximum of $1,000,

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Innovis Credit Bureau

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Did you know that there is a fourth credit bureau? Most people are aware of three: Equifax, TransUnion and Experian. There is actually a fourth credit bureau: Innovis. With Innovis, you can request your credit report via their website. Innovis will mail your free credit report to your home address within 7-10 days. Innovis does

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How Do Your Accounting Estimates Measure Up?

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Today’s businesses face unprecedented uncertainty — from geopolitical risks and cyberthreats to tax and regulatory reforms. So, management’s historical means of addressing uncertainty in accounting estimates may not pass muster in the coming audit season. Accounting For Uncertainty Some financial statement items are relatively cut-and-dried. But others can’t be measured precisely and, instead, are based

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Employer Training Grants

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On August 14, 2017, Governor Eric Holcomb rolled out Indiana’s Next Level Jobs initiative and announced two new grants designed to help Indiana job seekers and employers to seek and grow high-demand, high-wage jobs quickly in the future. The Workforce Ready Grant will assist with training adults to fill jobs in high-demand industries. The Employer

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