First, don’t panic. Audits are relatively rare, as fewer than 1% of taxpayers grouped by income level will get that dreaded notice on IRS letterhead. Per the linked statistics, for the average American who earned $50‒70K per year, only about half a percent of those tax returns got audited. If you made between $25‒50K or…
By Mike Lorenz, Senior Manager – Valuation & Business Analytics, BDO USA, LLP Public concern about global warming and the air we breathe means shippers will potentially find themselves operating under increasingly tight rules and thinner margins in the coming years. Like most industries that depend heavily on fossil fuels, shipping is likely to find itself…
A taxpayer’s filing status for the year is based upon his or her marital status at the close of the tax year. Thus, if you get married on the last day of the tax year, you are treated as married for the entire year. The options for married couples are to file jointly or separately.…
Indianapolis-based BGBC Partners, LLP is pleased to announce the promotion of seven staff members. Annie Hagan was promoted to Manager. Caleb Williams was promoted to Supervisor. Bethany Neese, Chat Whitman, Drew Richards, and Karla Tugan were promoted to Senior. Whitney Hall was promoted to Senior in the Emerging Business Solutions department.
Expanding internationally presents companies with a world of opportunity—as well as a host of questions and risks from an accounting and finance perspective. When companies evaluate the costs and benefits of entering into new countries or regions, they often include tax planning in their financial analysis. But understanding the true cost of doing business in…
The Indianapolis-based CPA and advisory firm BGBC Partners, LLP is pleased to announce the addition of Makylie Siples, Angela Stromberger, and Mark Woolard to their professional team. Makylie Siples joins the team as a Staff Accountant. She is a recent graduate of IUPUI, where she studied accounting and finance. Previously, Siples interned at BGBC as…
By Yoorhim Choi The confluence of new technologies has ushered in a fourth industrial revolution, also known as Industry 4.0, which is calling into question the definition of manufacturing. These changes are blurring the lines between the tangible and intangible, digital and physical, and product and service. Therefore, it is more important than ever for…
Summer is here, and there is a tax break that working parents should know about. Many working parents must arrange for care of their children under 13 years of age (or any age if disabled) during the school vacation period. A popular solution — with a tax benefit — is a day camp program. The…
Bitcoin and other cryptocurrencies are splashed across news headlines on a regular basis, charting a wild ride of extreme highs and lows. Once the sole domain of anti-establishment millennials burned by the 2008 recession, many institutional investors have shed their skepticism and are dipping their toes into the crypto market, adding exposure through crypto funds,…
BGBC Partners, LLP is pleased to announce that Greg Whicker, CPA has passed the Series 65 Exam. Whicker is a Supervisor and has been with BGBC for five years. He works in tax with a concentration in multi-state taxation of entities and individuals. The Series 65 License, also known as the Uniform Investment Adviser Law…