News & Resources

Indiana Tax Reporting of PPP Funds and Expenses

  As mentioned in our January 18, 2021 blog posting titled, “State Conformity to CARES Act,” many states have not yet conformed or adopted the changes under the CARES Act or the Consolidated Appropriations Act 2021 (CAA). Indiana has “static”

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State Conformity to CARES ACT

  While more than 20 states automatically conform (also known as “rolling conformity”) to federal law changes, the remaining states have either “selective” conformity or “static” conformity where legislation is required to conform to Federal law changes. While the CARES

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State Funding Available for Small Businesses

The Indiana Small Business Development Center (SBDC) announced applications are open for the Indiana Technical Assistance Program (INTAP) through Feb. 15, 2021. This statewide initiative connects small businesses with critical professional assistance to complete growth and improvement projects. Through INTAP,

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2020 Year-End Tax Planning for Individuals

As the year-end approaches, individuals, business owners and family offices should be reviewing their situations to identify any opportunities for reducing, deferring or accelerating tax obligations. Areas that should be looked at in particular include tax reform provisions that remain

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SBA Issues Review Procedures for Loans of $2 Million or More

As anticipated, the Small Business Administration (SBA) issued guidance regarding the review of Payroll Protection Program (PPP) loans totaling $2 million or more. Affected PPP recipients will be required to complete a questionnaire and provide documentation that supports and substantiates

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Payroll Protection Program Update

On Monday, August 25 the Small Business Administration released new guidance on Paycheck Protection Program (PPP) forgiveness. Here are the key pieces of information: C and S Corp owners with less than 5% ownership are not subject to the owner

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Drive Success with Dashboard Reports

Timely, relevant financial data is critical to managing a business in today’s unprecedented conditions. Similar to the control panel in a vehicle or machine, dashboard reports provide a real-time snapshot of how your business is performing. Why You Need a

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Reporting Embedded Leases

In 2016, the Financial Accounting Standards Board (FASB) published guidance that requires major changes to how leases are reported on financial statements. One area of the guidance that’s especially complicated relates to “embedded” leases. Updated Guidance Accounting Standards Update (ASU)

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