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The Rules Have Changed Regarding Your IRAs, RMDs and Estate Plan

May 12, 2020

Many people’s estates typically include IRAs. Be aware that two major laws passed into law recently, the Setting Every Community Up for Retirement Enhancement (SECURE) Act and the Coronavirus Aid, Relief, and Economic Security (CARES) Act, have had a direct effect on IRAs.

Benchmarking: Why Normalizing Adjustments Are Essential

May 7, 2020

Financial statements aren’t particularly meaningful without a relevant basis of comparison. There are two types of “benchmarks” that a company’s financials can be compared to — its own historical performance and the performance of other comparable businesses.

The CARES Act Liberalizes Net Operating Losses

May 5, 2020

The Coronavirus Aid, Relief, and Economic Security (CARES) Act eliminates some of the tax-revenue-generating provisions included in a previous tax law. Here’s a look at how the rules for claiming certain tax losses have been modified to provide businesses with relief from the novel coronavirus (COVID-19) crisis.

Lease or Buy? Changes to Accounting Rules May Change Your Mind

April 30, 2020

The rules for reporting leasing transactions are changing. In some cases, you might decide to modify lease terms to avoid having to report leasing liabilities on your balance sheet. Or you might opt to buy (rather than lease) property to sidestep being subject to the complex disclosure requirements.

Donor Care During the COVID-19 Pandemic

April 28, 2020

One of the many challenges of operating a not-for-profit organization during the coronavirus (COVID-19) pandemic is that just when you desperately need financial support, many donors are unable to help. Widespread unemployment, stock market volatility and general uncertainty make even dependable donors reluctant to part with their money.

Indiana Business Personal Property Tax Return Extension

April 24, 2020

Indiana Governor Holcomb announced yesterday that the due dates for Indiana business personal property tax returns will be extended from May 15th to June 15th statewide. The full Executive Order is attached, and Item #1 addresses the PPT returns.

How COVID-19 Poses New Fraud Threats to Vulnerable Businesses

April 23, 2020

Scam artists know how anxious business owners are during the current coronavirus (COVID-19) crisis. The last thing your business needs right now is to suffer additional financial losses. So keep an eye out for the following scams:

Adjusting Your Financial Statements for COVID-19 Tax Relief Measures

April 21, 2020

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020, contains several tax-related provisions for businesses hit by the novel coronavirus (COVID-19) crisis. Those provisions will also have an impact on financial reporting.

FFCRA and CARES Act Program Comparison

April 17, 2020

Our partners, at Execupay have developed a comparison chart for the Family First Coronavirus Response Act and the CARES Act: The Coronavirus Aid, Response, and Economic Security Act. This chart provides information about who is eligible, how to take advantage of these programs, what the maximum amounts and applicable periods are, and where to learn more.

Relief From Not Making Employment Tax Deposits Due to COVID-19 Tax Credits

April 14, 2020

The IRS has issued guidance providing relief from failure to make employment tax deposits for employers that are entitled to the refundable tax credits provided under two laws passed in response to the coronavirus (COVID-19) pandemic - Families First Coronavirus Response Act and the Coronavirus Aid, Relief, and Economic Security Act (CARES) Act.

Webinar: Perspective on Recent Market Volatility

April 9, 2020

Kemper Capital Management, the investment advisory subsidiary of Kemper CPA group, recently hosted a live webinar for our clients. The presentation focuses on the various crisis events, including COVID-19, in relation to the long-term outlook of investment markets.

IRS Warning About Economic Impact Payment Scams

April 8, 2020

With news that the IRS will be sending money to taxpayers as part of the recently passed COVID-19 stimulus package, scammers have begun targeting taxpayers in an attempt to gain access to the funds and steal personal information they can later use for tax fraud or identity theft.

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