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Pay Your Bill On Somerset’s Website

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Exciting news! Somerset clients can now pay their invoices online! Simply visit our website, somersetcpas.com, and click on the PAY BILL in the top right hand corner. It is simple, safe and secure! Please reach out to us with any questions at 317-472-2200 or at info@somersetcpas.com.  

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Questions Brewery Owners Should Ask Their CPAs

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Do you own a brewery and have a question that you think may be outside of your CPA’s scope of knowledge? Do yourself a favor and contact Somerset as we have dedicated professionals focusing on the accounting needs of brewery owners! How can I offset the cost of my brewery equipment? It’s important to understand

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2016 Year-End Tax Planning for Individuals

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Individual income taxes, whether paid through employer withholding or quarterly estimates, are probably one of your largest annual expenditures. So, just as you would shop around for the best price for food, clothing, or merchandise, you want to consider opportunities to reduce or defer your annual tax obligation. This Tax Letter is intended to assist

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Maximum Threshold for Expensing Increased

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In November, 2015, the Internal Revenue Service (“IRS”) increased the maximum threshold for expensing certain capital items from $500 to $2,500. In other words, for purposes of federal income taxation, a taxpayer can expense in the first year any asset with a cost of less than $2,500. Questions have arisen about how this practice can

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