Kline's CPA recently took part in the WOWO sponsored Midwest Ag's Farmer Forum 2017 held at Huntington University. Around 70 farmers from across our area attended the Sept 14 breakfast event emceed by Rob Winters, Farm Director at WOWO. Speakers for this event focused on...
Sales tax on tile ditching has been a hot topic of conversations with several clients over the past month. Indiana has enacted Senate Bill 515 as of July 1, 2017, which includes a sales tax exemption on certain field tile and components. Farm Bureau has...
Schools must send their students a 1098-T form to report the amount of qualified education expenses paid by the student during the year. This form is important because the information it reports is used to calculate many of the educational tax benefits the IRS offers. The...
Due to changes in the law, starting in 2017, the IRS can't issue refunds before Feb. 15 for returns that claim the Earned Income Credit (EIC) or the Additional Child Tax Credit (ACTC). This applies to the entire refund, not just the portion associated with...
January 31 is the due date for Forms W-2, W-3 and certain Forms 1099-Misc. Penalties for failure to file correct information returns and/or to furnish correct payee statements have increased. Information returns and payee statements include, for example, Forms 1098, 1099, and W-2. These forms...
Huntington University has announced that Kline's CPA Group has agreed to fund an agribusiness scholarship in the amount of $2,500. The first award will be granted for the 2017-2018 school year. The annual scholarship will be awarded to a student who is enrolled in the Haupert...
By Kathy Blomeke
Estate planning is an ongoing process. If you are young, your plan might consist of simply a Will. If you are a young couple, and you have children, it is important to name a guardian and arrange to provide for your children and...
Five years ago October 15, we unexpectedly lost our principal owner and friend, Brian D. Kline. In his 51 years of life, he touched countless family members, friends, and colleagues with his passion for life and his love for Jesus Christ. His example of commitment...
The Free Application for Federal Student Aid (FAFSA) is the application that students must complete to apply for federal student aid which can be used to attend an eligible college or career school. Federal student aid includes Federal Pell Grants, federal student loans, and work-study...
By Brandy Swope
A tax-savings strategy our firm has recommended over the years is paying children for working in their family business.
Benefits include:
Deduction for the parent who is typically in a higher tax bracket than the child.
Income to the child whose wages could be just under...