medical expense deduction

You may be able to deduct some of your medical expenses, including prescription drugs, on your federal tax return. However, the rules…

vehicle tax deductions

Are you considering replacing a car that you’re using in your business? There are several tax implications to keep in mind.

401k contribution limits for 2021

Contributing to a tax-advantaged retirement plan can help you reduce taxes and save for retirement. If your employer offers a 401(k) or…

IRS announces Coronavirus relief

During the week of November 9-13, 2020, our Schererville office will be closed with staff working remotely. Please contact our Valparaiso office…

5 facts about bonus depreciation

You’re probably aware of the 100% bonus depreciation tax break that’s available for a wide range of qualifying property. Here are five…

cares act business losses

The Coronavirus Aid, Relief and Economic Security (CARES) Act made changes to excess business losses. This includes some changes that are retroactive…

PPP Loans

If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis,…

retirement plan distribution

As you may have heard, the Coronavirus Aid, Relief and Economic Security (CARES) Act allows “qualified” people to take certain “coronavirus-related distributions”…

business record keeping

If you operate a small business, or you’re starting a new one, you probably know you need to keep records of your…

riot damage at business

The recent riots around the country have resulted in many storefronts, office buildings and business properties being destroyed. In the case of stores or…

Business Meal Tax Breaks

Restaurants and entertainment venues have been hard hit by the novel coronavirus (COVID-19) pandemic. One of the tax breaks that President Trump has proposed…

married filing separately

Married couples often wonder whether they should file joint or separate tax returns. The answer depends…