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Professional Services Since 1976

Our goal and policy is to treat our clients fairly with a high quality of friendly service. We will offer you timely preparation of your information and response to your questions. As a result of our provisions, it is our hope that our clients are highly satisfied, and that your clients will feel a desire to refer their friends and family.

Accounting

We can help you with your bookkeeping, accounting, payroll preparation, business set-up, notary needs, direct deposit of refunds, or computer software installation and set-up. Just give us a call and we'll be glad to set up a meeting with you at your convenience.
260-493-6661

Personal Income Tax & Business Income Tax Preparation

Personal income tax preparation and business income tax preparation, electronic filing of taxes, direct deposit of refunds. Just give us a call and we'll be glad to set up a meeting with you at your convenience. 260-493-6661 We pledge and guarantee that we will do our very best to serve you.

 

IRS Announces Start Date for 2018 Filing Season

Today, The IRS announced that the filing season will begin on January 29, 2018. The IRS scheduled the opening of the filing season to start on this date to ensure the security and readiness of key tax processing systems before the opening, and to give the agency time to properly assess the potential impact of tax legislation on 2017 tax returns.

In addition to IRS announcing that the filing deadline will be April 17, IRS reminded taxpayers that should they claim the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC), that refunds will be unavailable before mid-February. IRS expects EITC/ACTC refunds to be available in taxpayers' bank accounts or through debit cards by February 27, 2018 if the taxpayer chose direct deposit and there are no other issues with the filed return.

The IRS further reminded taxpayers that many financial institutions do not process payments on weekends or holidays. Therefore, the three-day holiday weekend involving President's Day may affect the refund timing for EITC and ACTC filers.

NAEA will continue to update members on any new updates relating to the filing season. Please also check the IRS Newsroom webpage for additional updates.

IRS increases standard mileage rates for 2018

The Internal Revenue Service released the 2018 optional standard mileage rates that tax payers and tax professionals can use to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on Jan. 1, 2018, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

54.5 cents for every mile of business travel driven, up 1 cent from the rate for 2017.
18 cents per mile driven for medical or moving purposes, up 1 cent from the rate for 2017.
14 cents per mile driven in service of charitable organizations.

The IRS noted that the business mileage rate and the medical and moving expense rates have increased 1 cent per mile from the rates for 2017. The charitable rate, however, is set by statute and stays unchanged.

The standard mileage rate for business comes from an annual study of the fixed and variable costs of operating an automobile, while the rate for medical and moving purposes is based on the variable costs.

Contact us if you have any questions about the deductible costs of operating an automobile for business, charitable, or medical expense purposes.

Reminder of the Federal Refund Delay for Upcoming 2018 Filing Season

This is a reminder that refunds will not be released again this coming filing season until February 15 for federal returns that claim Earned Income Tax Credit (EITC) or the Additional Child Tax credit.

The IRS will begin to release the refunds on these returns starting February 15. However the IRS is cautioning everyone that these refunds most likely will not begin to be deposited until February 27, 2018. This is due to several factors, including banking and financial systems requiring time to process the deposits.

Therefore any return claiming one of these credits that is prepared in January or early February will not be deposited in the normal IRS refund timeframe.

See the IRS news release of November 7 - Get Ready for Taxes: Plan Ahead for 2018 Filing Season to Avoid Refund Delays for more information.

PATH Act Earlier W-2 and 1099 deadlines

Under the PATH Act employers are now required to file their copies of Form W-2, submitted to the Social Security Administration, by Jan. 31. This deadline also applies to certain Forms 1099-MISC reporting nonemployee compensation, such as payments to independent contractors, regardless of whether the returns are filed on paper or electronically. Further, only one 30-day extension to file Form W-2 is now available, and this extension is not automatic (see the instructions to Form 8809). Having these forms W-2 and 1099 in hand earlier at least theoretically makes it easier for the IRS to verify the legitimacy of tax returns and properly issue refunds to eligible taxpayers. But they do make for a busy January in many accounting and compliance departments.

Contact us if you have any questions about filing these Forms or extensions.

2018 Due Dates for Individual Income Tax Filers

01-16-2018- Farmers/ Fisherman (2/3rd rule): only one est. payment due

01-31-2018- File IND return, pay tax due, no 4th installment payment due

03-01-2018- Farmers/ Fisherman (2/3rd rule): file return/pay by March 1, no est. tax due

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IRS Announces Various Dates Related to Tax Season 2017

The due date for 2016 calendar year individual income tax returns is Tuesday, April 18, 2017.  This is due to Emancipation Day, a legal holiday in the District of Columbia observed on Monday, April 17, 2017.  Since IRS is located in DC and this is a legal holiday in DC, the due date moves to the next business day, April 18.
 
IRS will begin accepting individual income tax returns on...
 

2017 Indiana Individual Income Tax Rate Changes Announced

INDIANAPOLIS (December 14, 2016) – Effective Jan. 1, 2017, the Indiana individual income tax rate is reduced from 3.3 percent to 3.23 percent.
Six counties also changed their county income tax rates effective on...
 

IRS Mileage Rates for 2017

The IRS released mileage rates for 2017, they are as follows:

Business rate went down from .54 per mile to .535 per mile.
Medical and Moving went down from .19 per mile to .17 per mile.
Charitable mileage rate did not change and is .14 per mile.

Contact us if you have any questions about the deductible costs of operating an automobile for business, charitable, or medical expense purposes.

Just Hang Up!

The IRS continues to warn consumers to guard against scam phone calls from thieves intent on stealing their money or their identity. Criminals pose as the IRS to trick victims out of their money or personal information.

The IRS will never:

Call to demand immediate payment.
Ask for credit or debit card numbers over the phone.
Threaten to immediately bring in local police or other law-enforcement groups to have you arrested for not paying.

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IRS Consumer Alert: Scammers Change Tactics, Once Again

The IRS is receiving new reports of scammers calling under the guise of verifying tax return information over the phone. The IRS continues to hear reports of phone scams as well as e-mail phishing schemes across the country.

Protect yourself, follow this link to the IRS website and read the list of key tactics scammers will use to try to decive you and what to do if you suspect you are being targeted by a scam.

IRS Consumer Alert

8 Tax Myths That Could Affect Your Taxes

(March 1, 2016) - The National Association of Enrolled Agents – a group of federally licensed tax practitioners who specialize in taxes – lists these eight frequently-encountered tax myths that could affect your taxes.

Myth: “Federal taxes are due on April 15.”
Fact: Not this year! Due to a federal holiday, taxpayers have an extra weekend to work on their returns. In 2016, federal taxes are due on April 18.

Myth: “I’m filing an extension this year, so I don’t need to pay anything yet.”

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Charitable Donations

Cash in tax chips on monetary gifts

If you give cash or a cash-equivalent gift to a qualified charity at year-end, you can generally deduct the entire amount of the donation.

Strategy: Make sure to comply with all the recordkeeping requirements. The IRS is a stickler in this area.

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