by KLPCPA | Aug 14, 2020 | IRS, Small Business, Taxes
Call Now Setup an Appointment If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax implications. PPP basics The Coronavirus Aid, Relief and...
by KLPCPA | Jun 16, 2020 | IRS, Small Business, Taxes
Call Now Setup an Appointment If you operate a small business, or you’re starting a new one, you probably know you need to keep records of your income and expenses. In particular, you should carefully record your expenses in order to claim the full amount of the tax...
by KLPCPA | Sep 30, 2019 | IRS, Small Business
Call Now Setup an Appointment Many business owners ask: How can I avoid an IRS audit? The good news is that the odds against being audited are in your favor. In fiscal year 2018, the IRS audited approximately 0.6% of individuals. Businesses, large corporations, and...
by KLPCPA | Aug 13, 2019 | IRS
Call Now Setup an Appointment In the past few months, many businesses and employers nationwide have received “no-match” letters from the Social Security Administration (SSA). The purpose of these letters is to alert employers if there’s a discrepancy between the...
by KLPCPA | Oct 17, 2014 | IRS
For Indianapolis entrepreneurs, a key decision is the selection of the proper retirement plan. With the guidance of an Indianapolis based Certified Public Accountant, entrepreneurs can begin to weigh the options available in selecting a qualified retirement plan. A...
by KLPCPA | Oct 3, 2014 | IRS, Taxes
Indianapolis businesses and individuals who are behind in paying their taxes can expect to see increased Internal Revenue Service (IRS) collection efforts and the resulting communications. Over the last 7 years, the government has made a huge strides in the...
CARES Act made changes to excess business losses
The possible tax consequences of PPP loans
File cash transaction reports for your business — on paper or electronically
Why do partners sometimes report more income on tax returns than they receive in cash?
Even if no money changes hands, bartering is a taxable transaction