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Third And Fourth Quarter Deadline Rule Changes

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A number of third and fourth quarter deadlines and rule changes are approaching for individuals, businesses, and retirement plans. Here’s a checklist of a couple of things to plan for as we approach the end of summer. Sept. 15, 2017 — third quarter estimated tax payment is due. Now is the time for individuals to

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Criminal Payroll Tax Cases Keep On Coming

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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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Somerset Is Growing!

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Somerset CPAs and Advisors is expanding its efforts to two new locations. We will now have satellite offices in Chicago, Illinois and Nashville, Tennessee. Decades of expanding our client base and services, along with continued growth, have made us what we are today—one of the most trusted and respected accounting firms in the region. The

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Social Security Wage Base To Increase In 2018

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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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How To Print Multiple Excel Worksheets Into One PDF

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Excel Tip – Learn how to print multiple sheets to a single PDF file and not many separate PDF files you have to combine into one. If you have ever tried to print a large Excel workbook to a PDF file, you’ve probably run into this issue. You press print, Excel asks you to name

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Homeschool Tax Deduction

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Read the below article from the Indiana Department of Revenue about tax help for homeschoolers: August is back to school time for Hoosier students across the state. Although homeschoolers in Indiana are not required to follow a traditional school calendar, now is a good time to remind homeschool families about the state’s homeschool tax deduction.

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Indiana’s Next Level Jobs Grant Program

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Indiana’s unemployment rate is at 3%, its lowest in 20 years! Governor Eric Holcomb isn’t stopping there though. He announced on Monday Indiana’s Next Level Jobs program, which is setting aside $20 million to put Hoosiers to work in high-demand, high-wage jobs. Read the below press release from the Office of the Governor to learn more

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Limited-Time State Tax Amnesty Program For Online Sellers

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The Multistate Tax Commission (MTC) recently announced its Online Marketplace Seller Voluntary Disclosure Initiative. This is a special limited-time sales/use tax and income/franchise tax amnesty program for online sellers which will run from August 17 to October 17, 2017. During this period, online sellers with potential tax liability may be able to use the MTC’s

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Number Of Americans Caught Underpaying Some Taxes Surges 40%

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For reasons that aren’t clear, a growing number of people who pay taxes quarterly—such as gig workers, retirees and business owners—are getting their payments wrong and incurring penalties as a result. Read the full story here from Fox Business.

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Good News For Companies That Do Business In Ohio

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Efforts to simplify Ohio’s burdensome municipal tax filings continue as Governor John Kasich recently signed legislation which will give businesses the option of electing to have the State administer their municipal income tax filings, rather than filing with each municipality. This option will permit businesses to file one form and make one payment to municipalities

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