Blog

1. Deadline Changes for Employer-Sponsored Healthcare

   The federal government has again changed the deadlines on employer-sponsored healthcare. The new delays in mandatory coverage affect both medium-sized (50-99 employees) and large (100+ employees) companies. Under the original Affordable Healthcare Act, both individuals and companies were mandated to …

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2. What IRS Tax Cuts Mean for Taxpayers

   In the recent budget passed by congress, the IRS budget was slashed more than any other budget. It is seen as a slap on the wrist for last summer’s scandal on delaying approval for certain political groups. Even though I …

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3. Happy Valentine’s Day!

   Here at SBS CPA Group, we love our clients. Our clients make coming to work seven days a week this time of year worthwhile. We love helping them save money on taxes while staying compliant with tax laws. It is …

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4. To Itemize or Not to Itemize

   To itemize or not to itemize? That is a question we are often asked by our clients. The three big itemized deductions for our clients are Taxes, Mortgage Interest and Charitable Contributions. If these expenses exceed $6,100 for you singles …

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5. New 2014 IRS Mileage Rates

   The Internal Revenue Service has recently published the new mileage rates for 2014. Supposedly, the government conducts regular studies to determine the mileage rate. When economic conditions change (e.g. the price of oil) the government revises the rate. It has …

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6. Tax Season has Arrived!!!

   It has finally arrived: the tax filing season for 2013 taxes. Taxpayers should start receiving their W-2’s, 1099’s, 1098’s, etc… rapidly in the next few days and weeks. SBS CPA Group would love to help you with the preparation of …

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7. Form 1099 Requirements

   Please ensure you are following the rules in regards to the issuance of 1099’s. Congress changed these rules in 2011, then later reversed some of those changes. This has led to a great deal of confusion as to the current …

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8. Capitalization Regulations for small businesses

   For many years the Internal Revenue Service (IRS) has been trying to create a new policy specifying what items a business can expense (written off in the current year) and which must be capitalized (depreciated). They are finally done with …

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9. Indiana 529 Plan

   The Indiana 529 plan is a great way for Indiana residents to save for college AND it is a great way for Indiana taxpayers to save on their annual income tax burden.  Under current law you qualify for an income …

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10. Shopping for health insurance

    The Affordable Care Act generally known as “Obamacare” will take effect starting January 1st, 2014 for the vast majority of Americans.  This example is meant to illustrate the fact that some employees may pay less for health insurance if their …

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