Alerding CPA Group

Happy Thanksgiving from all of us at Alerding CPA Group! Please note our office will be closed today and tomorrow (Friday, November 25th)

Happy Veterans Day! On this day and every day, we honor those who have served our nation.

Avoid doing unnecessary, tedious bookkeeping chores with QuickBooks - here's how to deal with payments and deposits: https://alerdingcpagroup.com/newsletter.php?date=102022 #11

Preparing your own income tax return can be a task that leaves you with more questions than answers. Learn more about our tax preparation services: alerdingcpagroup.com/taxprep.php

A volatile stock market, rising inflation, and relatively low interest rates create additional opportunities for wealthy individuals to transfer money to heirs tax-free. Use these strategies to pass on wealth to heirs: https://alerdingcpagroup.com/newsletter.php?date=102022 #4

Cash flow is the lifeblood of every small business, but many business owners underestimate just how vital managing cash flow is to their business's success. Here are cash management tips for your small business: https://alerdingcpagroup.com/newsletter.php?date=102022 #3

If you filed for a tax extension, be sure to keep the October 17th deadline on your calendar!

Don't Miss The Oct. 17 Tax Extension Deadline - NerdWallet Miss the October 17 tax extension deadline and you may owe more interest, late-payment penalties and/or a late-filing penalty. The IRS offers installment plans.

Storing tax records: How long is long enough? Our record retention guide can help guide you: www.alerdingcpagroup.cpa/taxretention.php

Lending money to a cash-strapped friend or family member is a noble and generous offer that just might make a difference. But before you hand over the cash, you need to plan ahead to avoid tax complications for yourself down the road. https://alerdingcpagroup.cpa/newsletter.php #5

Setting up an IRS Online Account is an easy and secure way for taxpayers to quickly get information about their IRS activity, such as any tax due balance, payments made, and tax records for the past several years. Here's what you need to know: https://bit.ly/3Ro0zkM

Our team volunteered at The ALS Association Indiana Chapter Walk to Cure ALS this weekend!

It may surprise you how significant your retirement accumulation may be simply by increasing the percent of your salary that you save each month in your 401(k). Use this calculator to estimate how much more you could accumulate taking into account any employer match: https://www.alerdingcpagroup.cpa/calcloader.php?calc=pay08

If you’re buying a home, or you just bought one, you may wonder if you can deduct mortgage points paid on your behalf by the seller. The answer is “yes,” subject to some important limitations we discuss in our new blog.

Seller-Paid Points: Can Homeowners Deduct Them? - Alerding CPA Group If you’re buying a home, or you just bought one, you may wonder if you can deduct mortgage points paid on your behalf by the seller.

Penalty relief for struggling taxpayers affected by the COVID-19 pandemic is now available to most people and businesses who file certain 2019 or 2020 returns late. Eligible income tax returns must be filed on or before September 30, 2022, to qualify for this relief. Learn more: https://bit.ly/3RNp9gd

Small employer HRAs or QSEHRAs allow small businesses without group health plans to set aside money, tax-free, for employees to use toward medical expenses - including the cost of buying health insurance. Here's what you need to know about QSEHRAs: https://bit.ly/38StL2U

We had a blast at our annual summer staff party!

High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Here’s an overview of the taxes and what they may mean for you.

Is Your Income High Enough to Owe Two Extra Taxes? - Alerding CPA Group High-income taxpayers face two special taxes Here’s an overview of the taxes and what they may mean for you.

Time is running short for taxpayers who requested an extra six months to file their 2021 tax return. As a reminder, Monday, October 17, 2022, is the extension deadline for most taxpayers.
Get more info: https://www.alerdingcpagroup.cpa/newsletter.php #6

Meet Shane, a Staff Accountant at Alerding CPA Group! As one of our new employees, we asked Shane some questions to get to know him better. Here’s what he had to say…

Employee Spotlight: Shane Snyder Meet Shane, a new Staff Accountant at Alerding CPA Group! We asked Shane some questions to get to know him better.

Keeping full and accurate homeowner records is not only vital for claiming deductions on your tax return, but also for determining the basis or adjusted basis of your home. Here's what you should keep and for how long: https://bit.ly/3vhHuJh

Happy Labor Day!

You may have heard that the Inflation Reduction Act (IRA) was signed into law recently. While experts have varying opinions about whether it will reduce inflation in the near future, it contains, extends and modifies many climate and energy-related tax credits that may be of interest to individuals.

The Inflation Reduction Act: What’s in it for You? - Alerding CPA Group You may have heard that the Inflation Reduction Act (IRA) was signed into law recently. While experts have varying opinions about whether it will reduce inflation in the near future, it contains, extends and modifies many climate and energy-related tax credits that may be of interest to individuals....

There's nothing like axe throwing to bond a team! The tax team took a trip to Ragnarok Axe Throwing Indianapolis to spend some quality time together this week.

Use this pre-retirement calculator to help you determine how well you have prepared and what you can do to improve your retirement outlook. It is important that you re-evaluate your preparedness on an ongoing basis. Changes in economic climate, inflation, achievable returns, and in your personal situation will impact your plan: https://www.alerdingcpagroup.cpa/calcloader.php?calc=ret02

If you're a retiree aged 70 1/2 or older, consider taking advantage of legislation that allows you to reduce or eliminate the amount of income tax on IRA withdrawals transferred directly to a qualified charitable organization. Learn more: www.alerdingcpagroup.cpa/newsletter.php #1

The state of Indiana is paying automatic refunds. If you had a refund on your 2021 return and it was directly deposited, this refund will be direct deposited. Otherwise, you will receive a paper check.

The Indiana Auditor of State and Department of Revenue remind Hoosiers to be mindful of potential scams regarding the Automatic Taxpayer Refunds. Individuals should ignore any texts, emails or phone calls regarding these refunds, especially messages containing links or requesting personal or financial information, such as Social Security or bank account numbers.

Find out more about automatic taxpayer refunds and if you're eligible to receive them here: https://www.in.gov/auditor/home/automatic-taxpayer-refund/

It's the start of a new school year, and teachers and other educators should know that they can still deduct certain unreimbursed expenses.
Learn more about tax breaks for teachers and educators: https://www.alerdingcpagroup.cpa/newsletter.php #5