Blog

  1. It’s Notice Time

    It seems like notices come out in waves and currently we are seeing a lot of matching notices come out which are generated when what was reported to the IRS does not match what was reported on your tax returns.  …

    Read More

  2. Back to School

    As our kids head back to school maybe some of you are thinking about going back to school as well.  Regardless if you are a first time college student, going back to complete a degree, or going for a new …

    Read More

  3. IRS Repeats Warning about Phone Scams

    WASHINGTON — The Internal Revenue Service and the Treasury Inspector General for Tax Administration continue to hear from taxpayers who have received unsolicited calls from individuals demanding payment while fraudulently claiming to be from the IRS.   Based on the …

    Read More

  4. Obama Care Health Insurance Credits

    If you signed up for health insurance coverage at www.healthcare.gov and you qualified for a credit against your health insurance make sure you are reporting life changes as they happen.   When you signed up, you had to report your income, …

    Read More

  5. Do you have a Nanny? What is this thing called Nanny Taxes?

    Last week we talked about the Child and Dependent Care Credit. Basically, if you pay to have someone watch your kids so that you can work, you can receive a tax credit. This applies to day care facilities, day camps …

    Read More

  6. Summer Time Child Care Tax Credit

    Did you know that if you pay to have someone watch your kids this summer that you are probably eligible for the Child and Dependent Care Credit? This credit isn’t just related to the summertime—you can use it all year …

    Read More

  7. NOTICE OF ASSESSMENT OF LAND AND IMPROVEMENTS

    If you own real estate in Allen County Indiana, you have recently received or will soon receive a notice from the Allen County Assessor (state forms 21366 or Form 11). Basically, this is the annual reassessment of your real property …

    Read More

  8. Selling rental properties

    Rental properties are a business.  Rental properties are depreciated over a 39 year time horizon.  You are allowed to take a deduction for depreciation expense each year on your income taxes.  For example; let’s say you purchased a rental property …

    Read More

  9. What to do if you get a notice from a taxing agency

    The various taxing agencies send out a large number of tax notices.  All of the taxing agencies rely on automated programs that automatically generate notices and these notices are sent to taxpayers without any agent ever looking at them.  More …

    Read More

  10. What does “basis” mean to someone who owns a Sub Chapter S corporation?

    Basis is a topic that is very important to people who own businesses that are treated as a sub chapter S corporation for tax purposes.  Basis is a complicated topic that I could spend a great deal of time discussing. …

    Read More

NEWSLETTER SIGN-UP

Keep up with
whats “NEW” at the
SBS CPA GROUP