Thought Leadership
When it comes to thought leadership and staying informed, we’ve got you covered. See below for recent articles, webinars, and downloadable resources available.
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January 12, 2023
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 […]
January 11, 2023
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 […]
December 29, 2022
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 […]
December 19, 2022
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 […]
December 19, 2022
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 – […]
December 09, 2022
By Amy Sandlin, CPA, Senior Tax Manager and James Wooten, CPA, Senior Tax Manager Starting January 1, 2023, Kentucky sales and use tax will apply to 30+ additional service categories. Businesses that provide these services will be required to collect 6% sales tax from their customers in the new year. This expansion of sales tax […]
December 08, 2022
By Jennifer Miloszewski, CPA, Director at Blue & Co. Time is running out for privately-held companies to adopt the infamous new lease standard. Effective for year-end December 31, 2022, Accounting Standards Update (ASU) 2016-02, Leases, (codified as ASC 842), the standard requires lessees to recognize substantially all leases on their balance sheets as lease liabilities […]
September 21, 2022
By Aaron Blackburn, CPA, and Amy Sandlin, CPA, Senior Tax Manager On Wednesday, August 24th, 2022, President Biden announced the broadest student loan forgiveness plan to date. The plan included forgiving up to $10,000 in Federal Student Loans for individuals and families making under $125,000 and $250,000, respectively. If the borrower was a recipient of […]
September 16, 2022
By Stephen Stringer, CPA, Director and Amy Sandlin, CPA, Senior Manager Shortly after the Inflation Reduction Act of 2022 grabbed the headlines out of Washington, the IRS announced a broad-based penalty relief program for individuals, businesses, trusts, and exempt organizations who are late filing certain 2019 and 2020 tax returns. This relief is to help […]
September 12, 2022
By Stephen Stringer, CPA, Director at Blue & Co., and David Seibel, Senior Manager at McGuire Sponsel Manufacturing and machine tool clients often qualify for Research and Development (R&D) Tax Credits through internal optimization or new product development for customers. Contract manufacturers and machine tool companies are often approached by other companies and asked to […]
August 29, 2022
By Jacob Boyd, CPA, Tax Manager; Amy Sandlin, CPA, Tax Senior Manager; Eric M. Bennett, CPA, Director The Tax Cuts and Jobs Act (TCJA) capped the State and Local Tax (SALT) deduction to $10,000 for individuals who itemized their deductions for tax years beginning after December 31, 2017, and before January 1, 2026. This cap […]
August 29, 2022
By Kevin Krieg, CPA, and Amy Sandlin, CPA In 2022, through legislation signed by Governor DeWine, Ohio joined the growing list of states to pass SALT Cap workarounds. Ohio Senate Bill 246 allows qualifying pass-through entities (PTEs) to elect to be subject to a new entity-level tax. The legislation makes the entity level tax fully […]
August 18, 2022
By Derek Gray, CPA, Director The Inflation Reduction Act of 2022 (“IRA”) was signed into law by President Biden on August 16. This is the culmination of more than 18 months of work by the Biden administration. The Act is a significant accomplishment, particularly in the realm of social and climate change policy. As with […]
August 11, 2022
By Amy Sandlin, CPA, Tax Senior Manager The Inflation Reduction Act of 2022 (the Act) passed in the Senate on Sunday, August 7, 2022, and is headed to the Democrat-controlled House where it is expected to pass on Friday, August 12. Experts expect this to be on President Biden’s desk by early next week. If […]
July 14, 2022
By: Derek Gray, CPA, Director On July 8, 2022, the Internal Revenue Service released Revenue Procedure 2022-32, now extending the time to make portability elections to five years. What is a Portability Election? A timely filed portability election allows for a widow/widower, here referred to as a surviving spouse, to utilize their deceased spouse’s unused […]
Webinars
January 12, 2023
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 […]
January 11, 2023
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 […]
December 29, 2022
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 […]
December 19, 2022
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 […]
December 19, 2022
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 – […]
December 09, 2022
By Amy Sandlin, CPA, Senior Tax Manager and James Wooten, CPA, Senior Tax Manager Starting January 1, 2023, Kentucky sales and use tax will apply to 30+ additional service categories. Businesses that provide these services will be required to collect 6% sales tax from their customers in the new year. This expansion of sales tax […]
