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Succession Planning Change for Business Owners

Learn how succession planning for business owners can help protect company value, prepare for ownership changes, and create a stronger path forward. By Michael Jamison, CPA, CGMA   For years, I have had the same frustrating conversation around how succession...

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Infographic: Offer in Compromise: The IRS Program That Can Settle Your Tax Debt for Less Than You Owe - Key concepts and takeaways

Offer in Compromise: IRS Program That Can Settle Your Tax Debt

An Offer in Compromise is one of the few IRS programs that actually allows taxpayers to settle federal tax debt for less than the full amount owed. The key is understanding that the IRS accepts these offers based on a...
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Business Bookkeeping Mistakes

Small business bookkeeping mistakes are far more expensive than most owners realize, and they rarely announce themselves until tax season or a cash flow crisis. The most damaging errors include mixing personal and business finances, skipping monthly bank reconciliation, misclassifying...
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Infographic: Buying a Business in Indianapolis? Here's What Your CPA Needs to Review Before You Sign Anything - Key concepts and takeaways

Buying a Business in Indianapolis? Here’s What Your CPA Needs to Review Before You Sign Anything

Buying a business without a proper CPA review is one of the most common and costly mistakes Indianapolis buyers make. This post breaks down exactly what a pre-acquisition financial review should cover, from reconciling tax returns and P&L statements to...
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Infographic: The Real Cost of Filing Your Business Taxes Late - And What You Can Actually Do About It - Key concepts and takeaways

The Real Cost of Filing Your Business Taxes Late – And What You Can Actually Do About It

Filing a business tax return late in Indiana can cost far more than most owners realize. The IRS charges a 5% per month failure-to-file penalty on unpaid taxes, capped at 25%, plus a separate 0.5% per month failure-to-pay penalty. Indiana...
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Infographic: Corporate Tax Return vs. Small Business Tax Return: What's the Difference and Which One Do You Need? - Key concepts and takeaways

Corporate Tax Return vs. Small Business Tax Return: What’s the Difference and Which One Do You Need?

Choosing the wrong tax return type is one of the most common and costly mistakes Indiana business owners make. Your entity structure - not your revenue or headcount - determines whether you file a corporate return like Form 1120 or...
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Infographic: IRS Audit Triggers for Small Businesses in 2025: What's on Their Radar Right Now - Key concepts and takeaways

IRS Audit Triggers for Small Businesses in 2026: What’s on Their Radar Right Now

Small business owners in 2025 face a more active IRS than in recent years, thanks to upgraded data matching tools and increased enforcement funding. This post breaks down the specific audit triggers that are drawing the most IRS attention right...
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Infographic: Succession Planning Is Not Just for Big Companies - Why Every Indianapolis Business Owner Needs a Plan Now - Key concepts and takeaways

Succession Planning Is Not Just for Big Companies – Why Every Indianapolis Business Owner Needs a Plan Now

Succession planning is one of the most overlooked financial priorities for small and mid-size business owners. Most owners assume it is something only large corporations worry about, but the opposite is true - smaller businesses are often more vulnerable when...
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ABCs of customer profitability

Some customers naturally require more time and resources than others. But when certain relationships consistently consume more of your and your employees’ time than they generate in profit, it may be time to reassess. Taking a closer look at customer‑level...

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Infographic: What Happens If You've Never Filed a Tax Return for Your Business? Here's the Honest Answer - Key concepts and takeaways

What Happens If You’ve Never Filed a Tax Return for Your Business? Here’s the Honest Answer

Many small business owners miss filing deadlines and find themselves sitting on years of unfiled business tax returns, unsure what to do next. This post breaks down exactly what happens when you don't file: the IRS receives third-party income data...
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