News & Resources

Somerset Promotes Six Professionals to Senior Manager

Somerset is pleased to announce the recent promotions of six professionals to Senior Manager. Please join us in congratulating Hayley, Jeff, Cole, Pat, Jordan and Shelly! Hayley A. DeMasie, MSA, of Somerset’s Training & Development Team, has been promoted to

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President Joe Biden Potential Tax Plan

  Below is a select summary of certain items that we believe would impact our client base. This is not an all-encompassing summary, and there are other tax proposals that have been discussed. The below items are just items that

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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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Restaurant Retention Credits

Do you run or manage a restaurant or any other related business and had less than 100 full time employees, that took a significant hit to revenue in 2020? Then there is a strong likelihood you qualify for the employee

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Put Your Company’s Financial Statements to Work for You

It’s almost time for calendar-year businesses to prepare their year-end financial statements. If used correctly, these reports can be a valuable management tool. Use them in benchmarking and forecasting to be proactive, not reactive, to market changes. 1. Benchmarking Historical

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