Indiana Tax Amnesty Program & Personal Property Tax Update

Indiana Tax Amnesty Program The Indiana Department of Revenue, IDR, will once again be providing a tax amnesty program for businesses and individuals who may work, live or do business in the state of Indiana and would like to disclose and pay previously unreported taxes. Currently, the tax amnesty program is for certain types of taxes that were due ...

Investigating the Cash Conversion Cycle

Continuous improvement and flow of materials is key in manufacturing; however, the flow of information and supporting functions is just as important for the most efficient cash conversion cycle (also known as the time from the initial cash outlay to the collection of cash from customers). While the focus often shifts to the flow of materials, analyzing ...

Property Tax Assessment Date

Personal property tax assessment date will be changing. Currently, personal property taxes are assessed on March 1 and the returns are due on May 15. Effective January , 2016, personal property taxes will now be assessed on January 1 and the return due date will continue to be May 15. Additionally, local governments will be able to exempt business personal ...

Crossing the (State) Line

If expansion plans call for doing business in other states, factor in tax liability by Marie Jett, CPA | Principal and Anita Sherman, CPA | Managing Partner When you say you want to grow your manufacturing company, what does that mean? It may entail expanding your physical plant or warehouse or introducing new products. It could also mean opening ...

Marie Jett, CPA Promoted to Principal at Greenwalt CPAs

Greenwalt CPAs is delighted to announce that Marie Jett has been promoted to Principal at the firm effective January 1, 2014. Marie specializes in providing services to manufacturing and distribution companies, professional service organizations, small business clients and estates and trusts. Marie is a 1999 graduate from Indiana University and started ...

Year-End Tax-Planning Moves for Businesses & Business Owners

By Andrew Rutherford and Marie Jett, CPA | Team Members of the Tax Services Group Year-end tax planning could be especially productive this year because timely action could nail down a host of tax breaks that won’t be around next year unless Congress acts to extend them. For businesses, tax breaks that are available through the end of this year ...

How the Government Shut Down is Affecting the IRS Activities

By Marie Jett, CPA | Manager, Tax Services Group With the government shutdown, you may be wondering exactly what functions of the IRS are open. Yes, all tax return filing deadlines are still applicable and any payments due to the IRS still need to be made. However, no refunds will be issued. Additionally, the following activities are suspended until ...

URGENT! Healthcare Letters to Employees Due October 1

by Marie Jett, CPA and Brandon Cook, CPA | Members of the Tax Services Group Employers with 1 employee or more and revenue of at least $500,000 need to remember to issue their health insurance letter to all employees by October 1. The letters will inform employees of the health insurance marketplaces (formally known as exchanges), services provided ...

Affordable Care Act Deferral Could Benefit Small Businesses

by Marie Jett, CPA | Manager, Tax Services Group The Treasury Department postponed the large employer mandate portion of The Affordable Care Act by one year to 2015. The large employer mandate required employers with 50 or more full-time equivalent employees to provide affordable health care to its employees or pay a penalty. Due to the complexity ...

Tax Update: Indiana House Enrolled Act 1001

by Abbey Lakin and Marie Jett, CPA | Team Members of the Tax Services Group On May 8, 2013 Governor Mike Pence signed Indiana House Enrolled Act 1001 which included numerous Indiana tax changes. Among these changes are the reduction of the adjusted gross income tax rate for non-corporate taxpayers and the repeal of the Indiana inheritance tax.