2021 individual taxes: Answers to your questions about limits
Many people are more concerned about their 2020 tax bills right now than they are about their 2021 tax situations. That’s understandable because...
09 February, 2021
Blog
The cents-per-mile rate for business miles decreases again for 2021
This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-and-one-half cents,...
02 February, 2021
The power of the tax credit for buying an electric vehicle
Although electric vehicles (or EVs) are a small percentage of the cars on the road today, they’re increasing in popularity all the time....
02 February, 2021
Indy’s Best and Brightest Finalists Selected
February 1, 2021 PRESS RELEASE For immediate release Indy’s Best and Brightest Finalists Selected Winners to be announced during the virtual awards program on Thursday, March 11,...
02 February, 2021
View your financial statements through the right lens
Many business owners generate financial statements, at least in part, because lenders and other stakeholders demand it. You’re likely also aware of how...
29 January, 2021
Don’t forget to take required minimum distributions this year
If you have a traditional IRA or tax-deferred retirement plan account, you probably know that you must take required minimum distributions (RMDs) when...
26 January, 2021
The new Form 1099-NEC and the revised 1099-MISC are due to recipients soon
There’s a new IRS form for business taxpayers that pay or receive certain types of nonemployee compensation and it must be furnished to...
26 January, 2021
PPP loans have reopened: Let’s review the tax consequences
The Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) reopened the week of January 11. If you’re fortunate to get a...
19 January, 2021
One reason to file your 2020 tax return early
The IRS announced it is opening the 2020 individual income tax return filing season on February 12. (This is later than in past...
19 January, 2021
Michael Jamison, CPA, 40 Under 40 Honoree
Michael Jamison, CPA, CGMA - 2020 40 Under 40 Honoree President, OnTarget CPA https://ontargetcpa.com Career highlights: Founded and became President of OnTarget CPA in late 2015 ...
14 January, 2021