fbpx

Category: Tax Reform Center

< Back to Thought Leadership

Kentucky House Bill 360 – Pass-Through Entity Tax Proposal

By Amy Sandlin, CPA, Tax Senior Manager at Blue & Co. A pass-through entity tax proposal is currently making its way through the Kentucky General Assembly as part of a larger tax omnibus bill (Kentucky House Bill 360). The pass-through entity (PTE) tax provisions in the bill are intended to be retroactive to January 1, […]

Read More

Indiana Enacts Retroactive Pass-through Entity Tax – Senate Enrolled Act 2

By Laura Rakaska, CPA, Tax Manager and Amy Sandlin, CPA, Tax Senior Manager at Blue & Co. On February 22nd, Governor Eric Holcomb signed Indiana Senate Enrolled Act 2, making Indiana the 30th state to enact pass-through entity tax (PTET) legislation. This bill received full bipartisan support because it levels the playing field for businesses […]

Read More

Indiana Senate Bill 2: Taxation of Pass-Through Entities

By Amy Sandlin, CPA, Tax Senior Manager and Laura Rakaska, CPA, Tax Manager Indiana is expected to enact pass-through entity (PTE) level tax legislation in mid-February 2023. The tax changes in the bill are intended to be retroactive, which means it could have a significant impact on your 2022 taxes for pass-through entities and PTE […]

Read More

The Importance of Personal vs. Business Use of Auto

By Pam Swartout, Manager and Jacoby Shade, Staff Accountant at Blue & Co. Many business owners provide a company vehicle to their employees as part of their employment. This is a company benefit that has tax implications and is extremely important for both the employer and employee to understand these implications. Employers can deduct only […]

Read More

Have You Started to Prepare for Filing Last Year’s 1099s and W-2s?

By Pam Swartout, Manager and Tracey Selig, CPA, Senior Accountant at Blue & Co. The time of year for preparing and filing your 1099s and W-2s is here. In order to ensure timely and accurate submissions of the above-mentioned forms, Blue & Co. wants to inform you of the Form 1099 and W-2 requirements, their […]

Read More

New Kentucky Utility Services Sales Tax and Exemptions

By Sydney Settle and Derek Gray, CPA, Director at Blue & Co. Beginning January 1, 2023, utility services for property other than a primary residence will be subject to six percent sales tax. This broader sales tax is a result of 2022 Kentucky House Bill 8 (HB8). HB8 amended KRS 139.470(7) which established exemptions from […]

Read More

Year-End Depreciation Update for Real Estate Investors

By: Lance Williams, CPA, Manager, and Kimber Sutton, CPA, Staff Accountant The Tax Cuts and Jobs Act (TCJA) was passed at the end of 2017. Of the many changes it made to the tax code, one that is temporary and currently scheduled to begin sunsetting, is the provision to allow for bonus depreciation under Section […]

Read More

Kentucky Small Business Tax Credit Program

By Emma Kuhl, CPA, and Zach Mattingly, CPA In September, Kentucky Governor Andy Beshear urged Kentucky small businesses to take advantage of the Kentucky Small Business Tax Credit Program (KSBTC), a tax credit many small businesses may not know they are eligible for. The program offers small businesses a tax credit ranging between $3,500 – […]

Read More

Contract Services: Impact on Wage Index

In the past several years, hospitals have continued to feel the impact of increased utilization of contract nursing and other contract services. Although these expenses have developed into a major expense line item, it is important for hospitals understand how these contracted services can impact the wage index factor for Medicare reimbursement. Contract Services can […]

Learn More
shamrocks not-for-profit tips

3 Lucky Tips for Not-For-Profits to Avoid Bank Fraud

Trusted Insights from The National Bank of Indianapolis Nonprofit Services Team Not-for-profit organizations are increasingly falling victim to fraud, with a rising number of incidents and an ever-growing amount of money being lost. Fraudsters find it easy to target not-for-profits, as their publicly available 990s provide valuable information. Protecting your organization from such fraudulent activities […]

Learn More

Capital Efficiency Concepts: How to Evaluate Capital Purchases

Rising interest rates and historic inflation are impacting hospital purchasing decisions. Using capital efficiency concepts in making hospital purchasing plans is as important as ever. What is Capital Efficiency? Capital efficiency refers to how effectively a hospital deploys its resources to generate returns. In the context of fixed assets and software purchases, capital efficiency involves […]

Learn More