Tax Saving Ideas for Individuals

| Alerding Alerts

As the year comes to a close, we wanted to make you aware of a few steps you can take now to save taxes and/or penalties for 2015: Maximize Your Charitable Donations Deduction If you are thinking of giving to charity during this holiday season, make sure you know the rules so that the deduction will be allowed: You can only deduct gifts you’ve given to qualified charities, so if you are unsure if the group is qualified, you can call our office or check the list on the IRS website. You must Read more [...]

Year-End Payroll Reporting Changes and Updates

| Alerding Alerts

The year-end is quickly coming to a close and it will soon be time to prepare and file forms W2 and the related payroll tax returns. We wanted to make you aware that some fringe benefits provided to employees as well as 2% or greater shareholders are taxable and should be reported on W2 forms in order for them to be deductible business expenses. Taxable fringe benefits include: • Personal use of company vehicle (including shareholders’ use) • 2% or greater shareholders’ health insurance • Read more [...]

Lessons from the Tank

| Business Miscellaneous

Millions of people have tuned into ABC’s “Shark Tank” to see whether amateur and experienced entrepreneurs can land a deal with one of the millionaire or billionaire sharks.  We may watch for the entertainment value; but after 7 seasons, there are real-life lessons to be learned.   In fact, selling ownership in a company isn’t much different than pitching an idea to a new program partner, potential donor, or board of directors. To be effective, you have to know your numbers, be direct, and exude passion. Here are 6 important lessons that Shark Tank negotiations have taught. Read more [...]

Indiana Tax Amnesty Letter 2015

| Alerding Alerts

Over the weekend, an Indiana Dept. of Revenue (DOR) contractor mailed letters to Indiana residents indicating that the taxpayer may owe taxes or may have under reported a tax that is eligible for the 2015 tax amnesty program.  The Indiana CPA Society contacted the DOR and received the following response. "The purpose of the letter is solely to advise taxpayers who may have liabilities where Tax Amnesty 2015 is still an option for them. It is informative only. Approximately 150,000 letters Read more [...]

Client Spotlight: Center for Leadership Development

| Client Spotlight

How do you define hope?  Improving yourself through education?  Surrounding yourself with people who will help you succeed? Assisting your community with achieving its greatest potential?  Since 1977, The Center for Leadership Development (CLD) has been offering this type of hope to minority youth in central Indiana.  CLD offers a broad range of programs to help guide these youth to be future professionals and business and community leaders. CLD provides experiences that encourage personal development Read more [...]

Oh, What a Difference a Day Can Make

| Business Miscellaneous, News

By W. Owen Pryor, CPA       On what appeared to be a normal day, a trip to a California junk shop proved to be life changing for one lucky customer. A seemingly innocent $2 purchase is now thought to be valued at a whopping $5 million. Turns out the decision to purchase a random black and white photo, which has been authenticated to be Billy the Kid, will now present quite a serious tax situation for the potential $4,999,998 capital gain. Let’s take a look into what this lucky customer, Randy, Read more [...]

Tips for Overcoming Growing Pains

| Business Miscellaneous

Like most nonprofits, you want to make the world a better place. With each positive result you gain, the more positive results you want to achieve. However, as your achievements grow so will your organization. Are you prepared for this growth? Growth is exciting, yet challenging, for both nonprofit and for-profit organizations. During the last few years, Alerding CPA Group has experienced significant growth, most recently through a merger. We have learned a lot in the process and thought your organization would benefit from the insights we have attained. If your organization is in the process of growth, it is best to keep these following tips in mind: Read more [...]

The State of our Union

| Business Miscellaneous

By Mike Staton       At Alerding CPA Group, we measure our success by our client satisfaction.   The fact that a significant number of our clients have been with our firm for 15+ years exemplifies our commitment to a quality product and outstanding customer service. In an effort to continue this momentum and accommodate the growing needs of our clients, our staff size has increased from 25 employees just one year ago, to over 40 employees today.  We spent the last year reevaluating and Read more [...]

The Crystal Client Spotlight Shines on Mays Chemical

| Client Spotlight

Some people hear Mays Chemical Company and instantly recognize it as a large chemical distributor in Indianapolis. Others hear Mays Chemical Company and are reminded of the late Indiana businessman, Bill Mays, founder and president of the company for over three decades. Regardless of which comes to mind, Mays Chemical has grown into the 18th largest chemical distributor in North America while becoming an ambassador for Indiana. Mays Chemical, a client of the founders of Alerding CPA Group prior Read more [...]

Maintaining a Positive Banking Relationship – Part 2 of 3 “Smart Business Banking Series”

| Business Miscellaneous

By Chris Mennel & Natalie Hopkins    In part one of our banking blog series, we offered suggestions to assist business owners in making themselves more bankable.  However, becoming more bankable is just the beginning.  Often, once the owners have achieved their initial goal of obtaining financing or securing a new banking relationship, they neglect to maintain that relationship.  While running the business should continue to be their top priority, we believe there are several key elements Read more [...]