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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June 17, 2020
For most individuals, a hobby is a great way to spend free time, and if you are fortunate, you might even make some money while enjoying your hobby. Determining whether your activity is considered a “hobby” or “legitimate business” can have an impact on your tax strategies and savings. Before the TCJA, individuals could deduct hobby […]
June 08, 2020
With the current economic situation, some manufactures have had delays in production, reductions in orders, and temporary closures. Depending on the size of the company, you may have received a PPP or EIDL loan, or you may be weathering the times on your own. Regardless of your situation, we put together the following actions you […]
June 05, 2020
This article was originally published with updates to FASB updates on December 10, 2019 and was most recently updated on June 5th. It is being updated as new information becomes available. On June 3, 2020, the FASB issued Accounting Standards Update (ASU) 2020-05, Revenue from Contracts with Customers (ASC 606) and Leases (ASC 842) Effective […]
June 04, 2020
by Mickie Murphy, Blue Benefits Consulting | This article was originally published on March 24th and was most recently updated on June 4th. It is being updated as new information becomes available. We have answers to questions employers are asking about their plans: Changes to Plan Contributions Can employees stop their deferral contributions? Employees may […]
May 18, 2020
This article was originally published on May 18th and was most recently updated on June 18th. It is being updated as new information becomes available. The U.S. Department of Treasury released revised PPP loan forgiveness applications on June 17th in response to changes enacted by the Paycheck Protection Program Flexibility Act of 2020. In doing […]
May 05, 2020
Cash flow management is a critical exercise during uncertain times like these and one that is top of mind for every business owner. It involves managing every aspect of the business that can have an effect on cash inflows or outflows, including focusing on accelerating inflows, prioritizing spending, and overall allocation of valuable resources. Where […]
April 22, 2020
by Damien Strohmier, CPA, CCIFP Considering an ESOP (Employee Stock Ownership Plan) or have you just implemented an ESOP for owner succession? The technical application of accounting for this transaction generally results in the company presenting a significant deficit where the company previously had equity. But does that have to be the case? How Equity […]
April 16, 2020
This on-demand webinar covers common questions we have been receiving about the Paycheck Protection Program and Loan Forgiveness. Directors JT Loughmiller and Stephen Mann illustrate the mechanics associated with the forgiveness clause, as well as some planning insights that should be considered. Duration: 30 Minutes Speakers: JT Loughmiller, Director Stephen Mann, Director Fill out the […]
April 13, 2020
In these unprecedented times in the midst of the COVID-19 pandemic, employees are likely incurring a variety of unplanned expenses, and employers may want to provide some financial assistance to their employees to help them recover from the economic hardships imposed by this pandemic. The IRS provides some tax relief for these circumstances in the […]
March 30, 2020
This article was originally published on March 25th and is being updated as new information becomes available. We created this Q&A as a general, high-level guide for our clients on common business items relating to the COVID-19 pandemic. We will be continually updating when new information becomes available. What general advice are you giving to clients? There’s […]
March 17, 2020
Many companies currently operating in a remote work business model are asking questions about how to keep effectively collaborating as if their employees were in person. It’s easy to take collaboration for granted in our day-to-day work lives. In a remote or work from home (WFH) environment, physical aspects need to be replaced in other […]
March 13, 2020
As the uncertainty of the impacts of COVID-19 (coronavirus) continues, many organizations are considering Work From Home (WFH) or remote work contingency plans or reevaluating WFH plans already in existence. While few companies have yet to implement this contingency as a mandatory requirement for employees, the potential for the enactment of these plans has never […]
March 09, 2020
by Dustin Brown Buying or selling a business can be daunting. There are many items to consider such as 1) the structure of the transaction (e.g. stock or asset sale/purchase) and the related tax implications of this decision, 2) the risks associated with the business, both macro and micro, and 3) the general fear of […]
February 07, 2020
In September 2019, the IRS released a draft 2019 Form 1065 and Schedule K-1 with their respective instructions, suggesting that partnership capital accounts would have to report on the tax basis vs. GAAP or any other method of reporting. This change in capital account reporting meant that many partnerships would have to spend considerable amounts […]
February 05, 2020
The business information technology landscape has seen many changes and developments over the last 50 years, since a large accounting firm implemented the first business application (payroll) at GE Appliance Park in Louisville, KY (January 1954). It took several trucks to transport the machine that processed that simple application because it weighed 30 tons. The […]
Webinars
April 05, 2023
By Amy Sandlin, CPA, Tax Senior Manager at Blue & Co. On March 31st, Governor Andy Beshear signed House Bill 5, which includes a retroactive pass-through entity (PTE) tax effective for tax years beginning on or after January 1, 2022. If you have been keeping track of Kentucky PTE tax legislation in recent weeks, HB5 […]
March 09, 2023
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, […]
February 24, 2023
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 […]
February 20, 2023
By Amy Sandlin, CPA, Tax Senior Manager at Blue & Co. Kentucky House Bill 1 was signed into law by Governor Beshear on Friday, February 17th. It reduces the individual income tax rate another 0.5 percent in 2024. This is a continuation of what we saw in 2022. Last year’s legislation (HB 8) gave us […]
February 06, 2023
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 […]
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 […]
