News & Resources

New Revenue Recognition Standards

  Just announced yesterday!  For our clients who have been asking questions about the new revenue recognition standards, the effective date has been pushed back one year for both public and private companies. More information is to come as this

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Employee Benefits Update – Spring 2015

  THE IMPACT OF SOCIAL SECURITY NUMBERS ON EMPLOYEE BENEFIT PLANS Social Security numbers (SSNs) in employee benefit plans (EBP) are a topic of growing concern for multiple reasons. Employee benefit plans are faced with SSNs that belong to individuals

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Challenges of Indiana Craft Breweries

  Did you know that there are nearly 100 craft breweries in Indiana? Or that 6,000+ full time employees in Indiana’s craft brewing industry create an economic impact of more than $600 million? Yep: brewing in Indiana is a big

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Where’s My IRS Refund?

  Did you know that you can quickly and easily check the status of your tax return and refund? Head over to the IRS’s website to check the status of your return. You will need to provide your social security number, filing

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DCAA Audit Alert on Expressly Unallowable Costs

  Attached below is an audit alert from the DCAA on Expressly Unallowable Costs.  The DCAA has identified 110 Expressly Unallowable costs which reflects FAR Part 31 and DFARS. Audit Alert Distributing a Listing of Cost Principles That Identify Expressly Unallowable

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Brackets for Good

  What happens when the Indianapolis area nonprofit community comes together? A little friendly competition, of course! Somerset CPAs and Advisors is a proud divisional sponsor of this year’s Brackets for Good tournament. Brackets For Good is an Indianapolis, IN

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Completing Form W-9

  Starting now and throughout the year, clients need to be proactive about completing form W-9 (request for taxpayer identification number and address) for any sub-contractor, attorney or outside service provider, or for anyone who will require a form 1099-MISC

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