Businesses constantly search for ways to streamline processes and cut costs. Every business charges money for a product or service. This means they must also pay employees, report revenue, track expenses, and pay taxes. All of these tasks require expertise and time, which is why outsourcing them as a package makes sense. Fortunately, Edgewater CPA Group offers business bundling for accounting, tax, and payroll services (and more).
Investors and technology gurus remain excited about the world of cryptocurrency and other emergent technologies. While cryptocurrency provides an innovative, novel technological investment strategy, investors should remember that the IRS requires reporting and taxes. At Edgewater CPA Group, we encourage clients to have proper safeguards to earn a proper return and report the results. To that end, this post covers some of the misconceptions about cryptocurrency investments and how to mitigate their risk.
Several Hamilton County cities enjoy top-rank placement as the best cities to live in the entire U.S. In fact, numerous publications, including Money.com and Wall Street Journal, repeatedly include our cities in their annual lists. Of course, you could argue that Carmel using tax incremental financing (TIF funds) to drive successful growth contributes to its ranking. Moreover, Carmel provides a successful model for other cities in the county, state, and country. In this post, Edgewater CPA Group reviews how TIF funds boost private investing in Hamilton County suburban cities.
The American Jobs Plan introduced by the Biden Administration, along with the accompanying Made in America Tax Plan, failed to achieve bipartisan agreement by Memorial Day. As a result, across-the-aisle talks continue in an effort to reach a consensus with regard to infrastructure spending and how to pay for it. Consequently, Edgewater CPA Group shares some of the proposals being discussed, so that you can understand the potential impact of these tax reforms on your business.
Do you remember that time you decided to lose 20 pounds and immediately accomplished your goal with no planning or forethought? No? That’s probably because you know that worthwhile accomplishments and successes only come from strategy, planning, and hard work. For businesses in Carmel and the surrounding area, an annual strategic financial planning session with Edgewater CPA Group can position you for success for the year ahead.
At Edgewater CPA Group, we want our clients to focus on the things that matter most to them, such as family, business, and health. Why spend time worrying about tax laws and financials when you can use one of our experts to navigate them on your behalf? If you’re not convinced, we have compiled a list of 20 reasons you should use a CPA. Our last blog contained the first ten reasons, and this blog includes ten additional reasons. Let’s dive right in!
Whether or not to use a CPA isn’t always clear-cut. Believe it or not, the question gets asked frequently. At Edgewater CPA Group, we’re experts in accounting and finance. Throughout our time serving customers in the Evansville and Carmel areas, we’ve compiled a compelling list of reasons to hire a CPA. Here are the first ten (the next ten will be covered in the next blog).
Cryptocurrencies are an elusive mythical creature for some, but for others, they are a viable investment strategy that carry a huge gains potential. For the latter, investors tend to assume the higher risk that goes along with the possibility of substantial returns. Fraud does not constitute a major component of risk assessment when it comes to most investments. However, Edgewater CPA Group wants you to know some cryptocurrencies are rife with fraud, and a new term has even been coined: cryptofraud. Here are the top three ways cryptofraud occurs.
Main Street businesses hold their breath at every administration transition, and this one is no different. Business owners in Indianapolis, IN, wonder what the Biden stimulus plan means for small businesses. This article includes an overview of what the plan entails, how it could impact small businesses, and the likelihood of its passing. Edgewater CPA Group is available to help small businesses navigate the pending bill, along with other bookkeeping services.
Many small businesses have been negatively impacted in 2020, and Indiana businesses are no exception. Edgewater CPA Group witnessed the closing of many longstanding Indiana businesses, such as the Butler-Tarkington hardware store owner who closed up shop after 43 years in business. Costumes by Margie closed after 50 years in business. Moreover, restaurants, hairdressers, and movie theaters have also been hit hard due to the pandemic. If your small business closed permanently this year, here are three things you need to do for your final business tax preparation.1. File Your Final Tax ReturnThe IRS requires final tax reporting, as does the Indiana Department of Revenue, along with the satisfaction of tax debt upon the close of your business. The tax and reporting requirements can be cumbersome, and mistakes can be costly. Here are the final tax return requirements for your business tax preparation.Sole proprietors. File a final Schedule C. Note: Schedule C … Continued