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Tax Consulting

Few business and personal challenges can be more frustrating than working with the Internal Revenue Code, especially with the new changes imposed by the Tax Cuts and Jobs Act. Understanding that code and finding opportunities in it takes a full-time commitment. Our tax professionals have the commitment necessary to give you peace of mind.

At Blue & Co., we combine a thorough knowledge of tax law with experience we’ve gained through years of working with individuals, partnerships, corporations, estates, trusts, and not-for-profits. We provide tax planning strategies that work to minimize your tax liability and help you keep more of what you earn.

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Businesses

Individuals

IRS portability elections

Extension to Make Portability Elections

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 […]

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Indiana Sales Tax Changes for Nonprofits

By: Angela Crawford, CPA, Senior Manager The recently enacted Senate Enrolled Act (SEA) 382 (2022) makes significant changes in the way not-for-profit organizations purchase and sell items exempt from sales tax. Sales tax information Bulletin 10 has been revised to reflect these changes. While sales tax-specific changes are detailed within the bulletin, here are the […]

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tax, expenses, tax code updates

R&E Expense Amortization

By: Desi Burton, Manager The Tax Cuts and Jobs Act (TCJA), signed into law in late 2017, was the most comprehensive update to the U.S. tax code in over 30 years. The TCJA was generally viewed as extremely favorable to many taxpayers, resulting in significant reductions in business and individual tax rates. In exchange for […]

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