Blog
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It’s almost tax time, why you should wait until you have everything….
2020 has arrived, which for every tax preparer nationwide means tax season is on its way. We have spent the first three and a half weeks working on W2’s and 1099’s which are due by January 31st. We expect the …
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2019 SBS Tax Planner
Every January, you receive a thick envelope from SBS CPA Group in your mailbox. This is a simple reminder that tax season is coming up. One of the most important aspects of this envelope is the yearly tax planner we …
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1099-MISC: The Why, The Penalties, and The Rules.
For the average person, January is the beginning of a new year. The month is filled with many New Year’s Resolutions. No matter the outcome of these resolutions, it is safe to say we all believe it is going to …
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Happy New Year from SBS CPA Group
Our office will be closed on January 1st in observance of New Years Day. We will reopen for business as usual on January 2nd. We wish everyone a safe and Happy New Year!
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Happy Holidays from SBS CPA Group
Our office will be closed on December 25th and December 26th in observance of the holiday. We will return to our normal business hours on Friday, December 27th. We wish everyone a safe and enjoyable holiday!
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What should I do if I receive a notice from a taxing agency?
Throughout the year, we receive a lot of correspondence from both clients and non-clients about a letter or notice they receive from a taxing agency. It could be from the IRS, The Indiana Department of Revenue, The Indiana Department of …
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Charitable giving under the new tax law
The 2018 Tax Cuts and Jobs Act changed the tax world dramatically. It gave us the Qualified Business Income deduction, increased the child tax credit, lowered the corporate tax rate that C Corporations pay, and far too many changes to …
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Are you having enough taxes withheld from your paychecks?
When 2018 tax returns were filed in April of 2019, many Americans were surprised to see that they would be writing a check to government instead of receiving one. This marked the first time in their life many had owed …
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New Fort Wayne fire protection rules start on January 2nd 2020
I am not an expert regarding fire protection rules; however, a couple of my clients are. The City of Fort Wayne passed some ordinances that will change how fire code is enforced within the city limits of Fort Wayne and …
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2020 Tax Inflation Adjustments
Earlier this month, the IRS announced the annual inflation adjustments for more than 60 tax provisions for the 2020 tax year. These adjustments affect tax year 2020 which is filed by April 15, 2021. The standard deduction jumped up $400 …
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