fbpx

Category: Tax

< Back to Thought Leadership

Bonus Depreciation: To Take Or Not To Take, That is The Question

By: Eric Bennett, CPA, Director, and Linda Miller, Senior Accountant History of Bonus Depreciation: Before the Tax Cuts and Jobs Act (TCJA) was enacted effective for tax years beginning in 2018, you were only allowed to take 50% bonus depreciation for qualified property acquired and placed in service during a particular tax year. Since 2001, […]

Read More

New 1099 Reporting Requirements for Payment Apps

Written by Joell Grisel, CPA, Manager, and Thomas Koustenis, Tax Intern Online payment services such as Venmo, PayPal, and many others, are more common than ever, especially for the sale of goods and services. While no banks or hard currency are involved in these transactions, these digital payments for goods and services are still considered […]

Read More

IRS Suspends Automated Notices

By: Jacoby Shade, Staff Accountant Tired of notices from the IRS? Well good news! After much pressure from Congress, the AICPA, and other accounting organizations, the IRS is granting taxpayers, and their CPAs, some relief. As of February 9, 2022, the IRS has suspended the mailing of certain automated tax notice letters. The IRS will […]

Read More

Tax Basis – Important to Understand and Maintain for all Taxable Assets

By: Tom Nowak, CPA, Principal In the accounting and financial world, the term “basis” is common and understood. The problem is that outside of the tax and financial environment, it is commonly misunderstood. And it is there, where it needs to be better understood and maintained by and for all taxpayers. Basis is important information […]

Read More

IRS Letters for Stimulus Payments and Advance Payments of Child Tax Credit

By: Kevin Umberger, CPA, Senior Manager With the 2021 tax return filing season upon us, the IRS has started sending out letters to ease the challenges many taxpayers and advisors will face related to the reconciliation of stimulus payments on 2021 tax return filing. In response to the global pandemic, Congress passed several rounds of […]

Read More

Tax Benefits of Hiring Children in the Family Business

By: Anastasia Sturm, Staff Accountant, and Jill Moore, CPA, Senior Manager One benefit of running your own business is the flexibility to hire your own family members. There are specific employer tax requirements for family member employees as opposed to regular employees. Below outlines strategies, your business can utilize to benefit both the business and […]

Read More

Webinar: A Guide to the Kentucky Tangible Personal Property Tax Return for Manufacturers

You’re Invited Join Blue & Co. on Wednesday, February 9 at 12:00 PM EST for a webinar entitled A Guide to the Kentucky Tangible Personal Property Tax Return for Manufacturers. This presentation will walk through the Kentucky Tangible Personal Property Tax Return and identify common preparation errors & potential tax savings opportunities. Duration: 1 hr. CPE Credit: […]

Read More

2021 Annual Report to Congress Released by IRS Taxpayer Advocate Office

By: Sara Jacobi, CPA CEPA Director Still waiting for your 2021 Federal tax refund? Tried calling the IRS, only to wait on hold for two hours without talking to anyone? Sent correspondence to the IRS to resolve a notice, only to continue to receive collection notices? If one or more of these items apply to […]

Read More

Tax Relief for Natural Disasters – What to Consider

By: Emily Elliott, and Amy Sandlin, CPA When a natural disaster wreaks havoc on your business or home, taxes might be the last thing on your mind, but they may be worth thinking about. In many cases, the IRS provides disaster victim tax relief that can allow you to extend your filing date and payment […]

Read More

Deferred Payroll Tax Payments

Employers who made the election to defer 2020 social security tax payments per provided CARES Act relief issued in March of 2020 are required to remit the first repayment by December 31, 2021. The second portion can continue deferral until December 31, 2022. To avoid penalties and interest, at least half of the total deferred […]

Read More

Blue & Co., LLC Announces New Partnership With Vsimple | Vsimple and Blue and Co logo

Blue & Co., LLC Announces New Partnership With Vsimple

CARMEL, Ind. (May 5, 2022) – Blue & Co., LLC is excited to announce our new partnership with Vsimple, a workflow management software company based in New Albany, IN.  Blue & Co and Vsimple will be working closely together to address the workflow and process improvement challenges of manufacturers throughout the Midwest. “At Blue & […]

Learn More
Proposed Rule FY 2023 for Skilled Nursing Facilities

Proposed Rule FY 2023 for Skilled Nursing Facilities

It is that time of year again! The Center for Medicare and Medicaid Services (CMS) has issued the proposed rule that would update Medicare payment policies and rates for the fiscal year (FY) 2023’s Skilled Nursing Facility (SNF) Prospective Payment System (PPS). The Patient Driven Payment Model (PDPM) was implemented on October 1, 2019. This […]

Learn More
Coverage Scheduling Solutions for Physician Practices and Hospital Systems

Scheduling Solutions for Clinician Work-Life Balance

One of the most challenging conversations in any multi-physician practice or specialty-based hospital employed group is about how to create a fair distribution of on-call and/or inpatient hospital service coverage while balancing the duties of an outpatient practice. The COVID-19 pandemic has contributed to clinician burnout, and physicians and Advanced Practice Providers (APPs) place significant […]

Learn More