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# Slattery & Holman P.C

## Sitemaps

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## Posts

- [Blog](https://www.slatterycpa.com/blog/)
- [Trump Accounts: What Your Family Needs to Know](https://www.slatterycpa.com/trump-accounts-irc-530a-explained/) - Learn how to open a Trump Account (IRC §530A) for your child, claim the $1,000 federal contribution, and whether it fits your family's tax plan.
- [IRS Updated Guidelines for Mailing](https://www.slatterycpa.com/irs-mailing-guidelines/) - The IRS is changing how postmark dates are determined starting December 24, 2025. Learn how this affects tax returns, payments, and deadlines.
- [Ready to Boost Your Nest Egg? IRS Announces 2026 Retirement Plan Contribution Limits](https://www.slatterycpa.com/2026-retirement-contribution-limits/) - The IRS has released 2026 retirement plan contribution limits. Learn what’s changing for 401(k), IRA, SIMPLE, & Roth accounts and how it affects your strategy.
- [4 Smart Year-End Planning Moves to Reduce Your 2025 Taxes](https://www.slatterycpa.com/year-end-tax-planning-2025-obbba-tips/) - Learn 4 effective year-end tax strategies to lower your 2025 bill under the new One Big Beautiful Bill Act (OBBBA). Plan early with Slattery CPA.
- [How the New SALT Deduction Rules Under the OBBBA Could Impact Your Tax Planning](https://www.slatterycpa.com/salt-deduction-changes-2025-obbba-tax-planning/) - Learn how the OBBBA changes the SALT deduction cap in 2025. Discover tax planning strategies, SALT torpedo risks, and CPA insights for high-income earners.
- [IRS to Eliminate Paper Checks for Tax Refunds and Benefits: What You Need to Know](https://www.slatterycpa.com/irs-ending-paper-checks/) - The IRS will end all paper checks for tax refunds and benefits by September 30, 2025. Learn how this change could affect your refund and what to do now.
- [Clean Energy Tax Credits on the Chopping Block: How the OBBBA Impacts Individuals and Businesses](https://www.slatterycpa.com/obbba-clean-energy-tax-credit-changes/) - The One, Big, Beautiful Bill Act (OBBBA) repeals or scales back several clean energy tax credits. Learn what this means for you before incentives expire.
- [How the One, Big, Beautiful Bill Act (OBBBA) Impacts Individual Taxpayers](https://www.slatterycpa.com/obbba-tax-changes-for-individuals/) - The One, Big, Beautiful Bill Act (OBBBA) includes major tax changes for individuals in 2025 & beyond. Learn what this means for your next tax filing
- [Disaster Victims May Qualify for Tax Relief, Including on Amended Returns](https://www.slatterycpa.com/disaster-tax-relief-amended-returns/) - Disaster victims may qualify for tax relief, refunds, and deductions under the FDTRA. Learn how to amend returns and claim benefits before key deadlines.
- [President Trump’s Tax Plan: Key Proposals & Changes You Need to Know (2025)](https://www.slatterycpa.com/trump-tax-plan-proposals-2025/) - The latest on Trump’s tax plan, including proposed cuts, TCJA extensions, and funding offsets, plus the challenges Congress faces in passing reforms.
- [2025 EV Tax Credit Changes: What the House GOP Bill Means for You](https://www.slatterycpa.com/ev-tax-credit-ending-2025/) - A new House GOP bill may eliminate EV tax credits after 2025. Find out how it affects your eligibility, income limits, and which vehicles still qualify.
- [The One Big Beautiful Bill Act: Key 2025 Tax Changes for Individuals & Businesses](https://www.slatterycpa.com/one-big-beautiful-bill-tax-changes-2025/) - Discover what the One Big Beautiful Bill Act means for your taxes in 2025 and beyond. Learn about extended tax cuts, new deductions, and key changes for both individuals and businesses.
- [Major Tax Reform Law Brings Big Benefits to Businesses](https://www.slatterycpa.com/2025-business-tax-law-changes/) - Learn how the 2025 business tax law changes under the OBBBA impact deductions, QBI, depreciation, and employer tax credits.
- [Trump Signs “One Big Beautiful Bill Act”: What It Means for Your Taxes](https://www.slatterycpa.com/one-big-beautiful-bill-act-tax-changes-2025/) - Discover how the One Big Beautiful Bill Act will affect your 2025 taxes. Learn what’s changing for individuals, families, and businesses.
- [2025 Tax Reform Bill: Senate Passes “One Big Beautiful Bill”](https://www.slatterycpa.com/2025-tax-reform-one-big-beautiful-bill/) - Explore how the 2025 tax reform bill—“One Big Beautiful Bill”—could affect your taxes, including TCJA extensions, SALT changes, and new credits.
- [The tax rules of renting out a vacation property](https://www.slatterycpa.com/the-tax-rules-of-renting-out-a-vacation-property/) - Summer is just around the corner. If you’re fortunate enough to own a vacation home, you may wonder about the tax consequences of renting it out for part of the year. The tax treatment depends on how many days it’s rented and your level of personal use. Personal use includes vacation use by your relatives
- [Selling mutual fund shares: What are the tax implications?](https://www.slatterycpa.com/selling-mutual-fund-shares-what-are-the-tax-implications/) - If you’re an investor in mutual funds or you’re interested in putting some money into them, you’re not alone. According to the Investment Company Institute, a survey found 58.7 million households owned mutual funds in mid-2020. But despite their popularity, the tax rules involved in selling mutual fund shares can be complex. What are the
- [Fully deduct business meals this year](https://www.slatterycpa.com/fully-deduct-business-meals-this-year/) - The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief laws, the usual deduction for 50% of the cost of business meals is doubled to 100% for food and beverages provided by restaurants in 2022 (and 2021). So, you can
- [Standard business mileage rate will increase for the second half of 2022](https://www.slatterycpa.com/standard-business-mileage-rate-will-increase-for-the-second-half-of-2022/) - The IRS recently announced that it’ll increase the standard mileage rate for qualified business driving for the second half of 2022. The adjustment reflects the soaring cost of gasoline this year. In fact, as of June 13, the nationwide average price of regular unleaded gas was $5.01 a gallon, according to the AAA Gas Prices
- [Businesses: Act now to make the most out of bonus depreciation](https://www.slatterycpa.com/businesses-act-now-to-make-the-most-out-of-bonus-depreciation/) - The Tax Cuts and Jobs Act (TCJA) significantly boosted the potential value of bonus depreciation for taxpayers — but only for a limited duration. The amount of first-year depreciation available as a so-called bonus will begin to drop from 100% after 2022, and businesses should plan accordingly. Bonus depreciation in a nutshell Bonus depreciation has
- [CHIPS Act poised to boost U.S. businesses](https://www.slatterycpa.com/chips-act-poised-to-boost-u-s-businesses/) - The Creating Helpful Incentives to Produce Semiconductors for America Act (CHIPS Act) was recently passed by Congress as part of the CHIPS and Science Act of 2022. President Biden is expected to sign it into law shortly. Among other things, the $52 billion package provides generous tax incentives to increase domestic production of semiconductors, also
- [The Inflation Reduction Act includes wide-ranging tax provisions](https://www.slatterycpa.com/the-inflation-reduction-act-includes-wide-ranging-tax-provisions/) - The U.S. Senate and House of Representatives have passed the Inflation Reduction Act (IRA). President Biden is expected to sign the bill into law shortly. The IRA includes significant provisions related to climate change, health care, and, of course, taxes. The IRA also addresses the federal budget deficit. According to the Congressional Budget Office (CBO),
- [Inflation enhances the 2023 amounts for Health Savings Accounts](https://www.slatterycpa.com/inflation-enhances-the-2023-amounts-for-health-savings-accounts/) - The IRS recently released guidance providing the 2023 inflation-adjusted amounts for Health Savings Accounts (HSAs). High inflation rates will result in next year’s amounts being increased more than they have been in recent years. HSA basics An HSA is a trust created or organized exclusively for the purpose of paying the “qualified medical expenses” of
- [Your estate plan: Don’t forget about income tax planning](https://www.slatterycpa.com/your-estate-plan-dont-forget-about-income-tax-planning/) - As a result of the current estate tax exemption amount ($12.06 million in 2022), many people no longer need to be concerned with federal estate tax. Before 2011, a much smaller amount resulted in estate plans attempting to avoid it. Now, because many estates won’t be subject to estate tax, more planning can be devoted
- [Valuable gifts to charity may require an appraisal](https://www.slatterycpa.com/valuable-gifts-to-charity-may-require-an-appraisal/) - If you donate valuable items to charity, you may be required to get an appraisal. The IRS requires donors and charitable organizations to supply certain information to prove their right to deduct charitable contributions. If you donate an item of property (or a group of similar items) worth more than $5,000, certain appraisal requirements apply.
- [IRS offers penalty relief for 2019, 2020 tax years](https://www.slatterycpa.com/irs-offers-penalty-relief-for-2019-2020-tax-years/) - While the recently announced student loan debt relief has captured numerous headlines, it’s estimated that another federal relief program announced on the same day will provide more than $1.2 billion in tax refunds or credits. Specifically, IRS Notice 2022-36 extends penalty relief to both individuals and businesses who missed the filing deadlines for certain 2019 and/or 2020
- [Home sweet home: Do you qualify for office deductions?](https://www.slatterycpa.com/home-sweet-home-do-you-qualify-for-office-deductions/) - If you’re a business owner working from home or an entrepreneur with a home-based side gig, you may qualify for valuable home office deductions. But not everyone who works from home gets the tax break. Employees who work remotely can’t deduct home office expenses under current federal tax law. To qualify for a deduction, you
- [2023 limits for businesses that have HSAs — or want to establish them](https://www.slatterycpa.com/2023-limits-for-businesses-that-have-hsas-or-want-to-establish-them/) - No one needs to remind business owners that the cost of employee health care benefits keeps going up. One way to provide some of these benefits is through an employer-sponsored Health Savings Account (HSA). For eligible individuals, an HSA offers a tax-advantaged way to set aside funds (or have their employers do so) to meet
- [5 steps to take now to cut your 2022 tax liability](https://www.slatterycpa.com/5-steps-to-take-now-to-cut-your-2022-tax-liability/) - It has been quite a year — high inflation, rising interest rates and a bear stock market. While there’s not a lot you can do about any of these financial factors, you may have some control over how your federal tax bill for the year turns out. Here are some strategies to consider executing before
- [Evaluating an ESOP from a succession planning perspective](https://www.slatterycpa.com/evaluating-an-esop-from-a-succession-planning-perspective/) - If you’ve been in business for a while, you’ve probably considered many different employee benefits. One option that might have crossed your desk is an employee stock ownership plan (ESOP). Strictly defined, an ESOP is considered a retirement plan for employees. But it can also play a role in succession planning by facilitating the transfer of
- [Year-end spending package tackles retirement planning, conservation easements](https://www.slatterycpa.com/year-end-spending-package-tackles-retirement-planning-conservation-easements/) - On December 23, 2022, Congress passed the Consolidated Appropriations Act of 2023. The sprawling year-end spending “omnibus” package includes two important new laws that could affect your financial planning: the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act (also known as SECURE 2.0) and the Conservation Easement Program Integrity Act. Bolstering retirement savings The original SECURE Act,
- [Reading the tea leaves: Potential tax legislation in the new Congress](https://www.slatterycpa.com/reading-the-tea-leaves-potential-tax-legislation-in-the-new-congress/) - The 2022 mid-term election has shifted the scales in Washington, D.C., with the Democrats no longer controlling both houses of Congress. While it remains to be seen if — and when — any tax-related legislation can muster the requisite bipartisan support, a review of certain provisions in existing laws may provide an indication of the
- [U.S. Supreme Court rules against the IRS on critical FBAR issue](https://www.slatterycpa.com/u-s-supreme-court-rules-against-the-irs-on-critical-fbar-issue/) - The U.S. Supreme Court recently weighed in on an issue regarding a provision of the Bank Secrecy Act (BSA) that has split two federal courts of appeal. Its 5-4 ruling in Bittner v. U.S. is welcome news for U.S. residents who “non-willfully” violate the law’s requirements for the reporting of certain foreign bank and financial accounts
- [President Biden’s proposed budget includes notable tax provisions](https://www.slatterycpa.com/president-bidens-proposed-budget-includes-notable-tax-provisions/) - President Biden has released his proposed budget for the federal government for the 2024 fiscal year. The budget, which aims to cut the deficit by nearly $3 trillion over 10 years, includes numerous provisions that would affect the tax bills of both individuals and businesses. While most of these proposals stand little chance of enactment with a Republican
- [IRS guidance coming regarding the IRA’s Clean Vehicle Credit](https://www.slatterycpa.com/irs-guidance-coming-regarding-the-iras-clean-vehicle-credit/) - The Inflation Reduction Act (IRA) extended and expanded the Section 30D Clean Vehicle (CV) Credit, previously known as the Electric Vehicle (EV) Credit. The credit now covers “clean vehicles,” which include plug-in hybrids, hydrogen fuel cell cars and EVs. On April 17, 2023, the IRS will publish proposed regulations to clarify how a CV can qualify for the credit.
- [Businesses, be prepared to champion the advantages of an HSA](https://www.slatterycpa.com/businesses-be-prepared-to-champion-the-advantages-of-an-hsa/) - With concerns about inflation in the news for months now, most business owners are keeping a close eye on costs. Although it can be difficult to control costs related to mission-critical functions such as overhead and materials, you might find some budge room in employee benefits. Many companies have lowered their benefits costs by offering
- [There’s a favorable “stepped-up basis” if you inherit property](https://www.slatterycpa.com/theres-a-favorable-stepped-up-basis-if-you-inherit-property/) - A common question for people planning their estates or inheriting property is: For tax purposes, what’s the “cost” (or “basis”) an individual gets in property that he or she inherits from another? This is an important area and is too often overlooked when families start to put their affairs in order. Under the fair market
- [Use the tax code to make business losses less painful](https://www.slatterycpa.com/use-the-tax-code-to-make-business-losses-less-painful/) - Whether you’re operating a new company or an established business, losses can happen. The federal tax code may help soften the blow by allowing businesses to apply losses to offset taxable income in future years, subject to certain limitations. Qualifying for a deduction The net operating loss (NOL) deduction addresses the tax inequities that can
- [Social Security’s future: The problem and the proposals](https://www.slatterycpa.com/social-securitys-future-the-problem-and-the-proposals/) - Recent reports have raised anew concerns about the impending insolvency of the Social Security program, absent congressional action. Social Security reform has long been considered a “third rail” of American politics and understandably so — the options for heading off insolvency will inevitably cause pain for significant segments of the population. Yet some in Congress
- [What’s in the Fiscal Responsibility Act?](https://www.slatterycpa.com/whats-in-the-fiscal-responsibility-act/) - President Biden has signed into law the new debt ceiling agreement that he reached with U.S. House of Representatives Speaker Kevin McCarthy (R-CA). The Fiscal Responsibility Act (FRA) suspends — as opposed to raising — the debt ceiling until 2025, after the next presidential election. The FRA also makes a variety of changes related to
- [Virtual currency lands in the IRS’s crosshairs](https://www.slatterycpa.com/virtual-currency-lands-in-the-irss-crosshairs/) - While the value of virtual currency continues to fluctuate, the IRS’s interest in it has only increased. In 2021, for example, the agency launched Operation Hidden Treasure to root out taxpayers who don’t report income from cryptocurrency transactions on their federal income tax returns. Moreover, the Inflation Reduction Act, enacted in 2022, allocated $80 billion to the
- [IRS provides transitional relief for RMDs and inherited IRAs](https://www.slatterycpa.com/irs-provides-transitional-relief-for-rmds-and-inherited-iras/) - The IRS has issued new guidance providing transitional relief related to recent legislative changes to the age at which taxpayers must begin taking required minimum distributions (RMDs) from retirement accounts. The guidance in IRS Notice 2023-54 also extends relief already granted to taxpayers covered by the so-called “10-year rule” for inherited IRAs and other defined contribution plans.
- [SECURE 2.0: Which provisions went into effect in 2024?](https://www.slatterycpa.com/secure-2-0-which-provisions-went-into-effect-in-2024/) - Federal overtime pay thresholds are set to increase, potentially affecting millions of workers, alongside new FTC restrictions on noncompete agreements.
- [Federal regulators expand overtime pay requirements, ban most noncompete agreements](https://www.slatterycpa.com/overtime-pay-noncompete-agreements/) - Federal overtime pay thresholds are set to increase, potentially affecting millions of workers, alongside new FTC restrictions on noncompete agreements.
- [IRS issues guidance on tax treatment of energy efficiency rebates](https://www.slatterycpa.com/irs-issues-guidance-on-tax-treatment-of-energy-efficiency-rebates/) - The Inflation Reduction Act (IRA) established and expanded numerous incentives to encourage taxpayers to increase their use of renewable energy and adopt a range of energy efficient improvements. In particular, the law includes funding for nearly $9 billion in home energy rebates. While the rebates aren’t yet available, many states are expected to launch their
- [Independent contractor vs. employee status: The DOL issues new final rule](https://www.slatterycpa.com/independent-contractor-vs-employee-status-the-dol-issues-new-final-rule/) - The U.S. Department of Labor’s (DOL’s) test for determining whether a worker should be classified as an independent contractor or an employee for purposes of the federal Fair Labor Standards Act (FLSA) has been revised several times over the past decade. Now, the DOL is implementing a new final rule rescinding the employer-friendly test that
- [IRS suspends processing of ERTC claims](https://www.slatterycpa.com/irs-suspends-processing-of-ertc-claims-2/) - In the face of a flood of illegitimate claims for the Employee Retention Tax Credit (ERTC), the IRS has imposed an immediate moratorium through at least the end of 2023 on processing new claims for the credit. The reason the IRS cites for the move is the risk of honest small business owners being scammed
- [The IRS warns businesses about ERTC scams](https://www.slatterycpa.com/the-irs-warns-businesses-about-ertc-scams/) - The airwaves and internet are inundated these days with advertisements claiming that businesses are missing out on the lucrative Employee Retention Tax Credit (ERTC). While some employers do indeed remain eligible if they meet certain criteria, the IRS continues to caution businesses about third-party scams related to the credit. While there’s nothing wrong with claiming credits
- [Pocket a tax break for making energy-efficient home improvements](https://www.slatterycpa.com/pocket-a-tax-break-for-making-energy-efficient-home-improvements/) - An estimated 190 million Americans have recently been under heat advisory alerts, according to the National Weather Service. That may have spurred you to think about making your home more energy efficient — and there’s a cool tax break that may apply. Thanks to the Inflation Reduction Act of 2022, you may be able to
- [A tax-smart way to develop and sell appreciated land](https://www.slatterycpa.com/a-tax-smart-way-to-develop-and-sell-appreciated-land/) - Let’s say you own highly appreciated land that’s now ripe for development. If you subdivide it, develop the resulting parcels and sell them off for a hefty profit, it could trigger a large tax bill. In this scenario, the tax rules generally treat you as a real estate dealer. That means your entire profit — including
- [Moving Mom or Dad into a nursing home? 5 potential tax implications](https://www.slatterycpa.com/moving-mom-or-dad-into-a-nursing-home-5-potential-tax-implications/) - More than a million Americans live in nursing homes, according to various reports. If you have a parent entering one, you’re probably not thinking about taxes. But there may be tax consequences. Let’s take a look at five possible tax breaks. 1. Long-term medical care The costs of qualified long-term care, including nursing home care,
- [IRS Ramps Up Compliance Enforcement Against Certain Businesses](https://www.slatterycpa.com/irs-ramps-up-compliance-enforcement/) - Federal overtime pay thresholds are set to increase, potentially affecting millions of workers, alongside new FTC restrictions on noncompete agreements.
- [IRS Issues Final Regulations on Inherited IRAs](https://www.slatterycpa.com/irs-final-regs-inherited-iras/) - Federal overtime pay thresholds are set to increase, potentially affecting millions of workers, alongside new FTC restrictions on noncompete agreements.
- [Federal Court Rejects FTC’s Noncompete Agreement Ban](https://www.slatterycpa.com/federal-court-rejects-ftcs-noncompete-agreement-ban/) - Federal overtime pay thresholds are set to increase, potentially affecting millions of workers, alongside new FTC restrictions on noncompete agreements.
- [Ease the Financial Pain of Natural Disasters with Tax Relief](https://www.slatterycpa.com/ease-the-financial-pain-of-natural-disasters-with-tax-relief/) - Discover how you can ease the financial burden of natural disasters with federal tax relief and casualty loss deductions.
- [How will the 2025 Inflation Adjustment Numbers Affect Your Year-End Tax Planning?](https://www.slatterycpa.com/how-will-the-2025-inflation-adjustment-numbers-affect-your-year-end-tax-planning/) - Discover how you can ease the financial burden of natural disasters with federal tax relief and casualty loss deductions.
- [How the 2024 U.S. Election Could Impact Your Taxes: Key Changes and Proposals](https://www.slatterycpa.com/us-election-tax-changes-2024/) - Learn how the 2024 U.S. election could affect your taxes, from tax cuts to corporate tax changes. Get the full breakdown of proposed tax changes.
- [IRS 2025 Retirement Contribution Limits & MAGI Phaseout Explained](https://www.slatterycpa.com/irs-2025-retirement-contribution-limits/) - Learn about the IRS's 2025 retirement contribution limits, MAGI phaseout ranges for IRAs, and how these changes affect your retirement savings.
- [Federal Court Rules Against DOL's "White Collar" Overtime Rule](https://www.slatterycpa.com/federal-court-strikes-down-dol-overtime-rule-2024/) - Federal court rejects DOL’s 2024 overtime rule, reversing salary threshold increases. Learn the ruling's impact on employers and future labor regulations.
- [IRS extends relief for inherited IRAs](https://www.slatterycpa.com/irs-extends-relief-for-inherited-iras/) - For the third consecutive year, the IRS has published guidance that offers some relief to taxpayers covered by the “10-year rule” for required minimum distributions (RMDs) from inherited IRAs or other defined contribution plans. But the IRS also indicated in Notice 2024-35 that forthcoming final regulations for the rule will apply for the purposes of determining
- [IRS suspends processing of ERTC claims](https://www.slatterycpa.com/irs-suspends-processing-of-ertc-claims/) - With fraudulent Employee Retention Tax Credit claims on the rise, the IRS has suspended claim processing through year end.
- [Employee Spotlight - Logan Hostetter](https://www.slatterycpa.com/employee-spotlight-logan-hostetter/) - What year did you join Slattery & Holman?2023 Tell me a little about where you attended college and the degree(s) you earned? Any special accomplishments.I graduated from the Kelley School of Business at IU Bloomington with a bachelor’s in finance. I would say I’m very proud of my 3.7 GPA because of how much time
- [Employee Spotlight - Katie Safa](https://www.slatterycpa.com/employee-spotlight-katie-safa/) - Tell us about your career at Slattery & Holman.I joined the administrative support department in 2019 and moved into a staff accountant position in 2022.Tell us a little about your family.I live in Noblesville with my boyfriend, Matt, and our two adorable fur babies. My mom and stepdad and my dad live nearby in Zionsville,
- [Employee Spotlight - Amanda Bartley](https://www.slatterycpa.com/employee-spotlight-amanda-bartley/) - What year did you join Slattery & Holman? 2012 Tell me a little about where you attended college and the degree(s) you earned? Any special accomplishments. IUPUI double major in Accounting and Finance What is your favorite thing about living in Indiana? The people – “Midwest nice” Tell me a little about your family. I’ve
- [Employee Spotlight - Ben VanMeter](https://www.slatterycpa.com/employee-spotlight-ben-vanmeter/) - What year did you join Slattery & Holman? May 2021 Tell me a little about where you attended college and the degree(s) you earned? Any special accomplishments? I just graduated from IU Bloomington’s Kelley School of Business with a degree in accounting. What is your favorite thing about living in Indiana? Making trips to the
- [Employee Spotlight - Annie Sommer](https://www.slatterycpa.com/employee-spotlight-annie-sommer/) - What year did you join Slattery & Holman? January 2020 Tell us a little about where you attended college and the degree(s) you earned? Any special accomplishments. I graduated from IUPUI with a Bachelor’s degree in physical education with a focus in sports management. I went back to IUPUI to take accounting classes in 2016.
- [Another Rough Tax Season for IRS and Taxpayers?](https://www.slatterycpa.com/another-rough-tax-season-for-irs-and-taxpayers/) - This could be another rough tax season for the IRS and taxpayers. Although this year’s filing season opened January 24, 2022 (the first day the IRS accepted and started processing 2021 returns), the IRS has a backlog of prior year returns to process, and is plagued by staff shortages due to the COVID-19 pandemic and
- [How One Small Company Found Its Opening and Disrupted an Entire Industry in the Process](https://www.slatterycpa.com/how-one-small-company-found-its-opening-and-disrupted-an-entire-industry-in-the-process/) - If you had to make a list of some of the fastest-growing industries in the United States, activewear would undoubtedly be on it. It's a field that is made up of a few different categories: athletic clothing, swimwear, yoga items and footwear, to name a few. According to one recent study, the industry was worth
- [What Is Tax Basis and Why Is It So Important?](https://www.slatterycpa.com/what-is-tax-basis-and-why-is-it-so-important/) - For tax purposes, the term “basis” refers to the monetary value used to measure a gain or loss. For instance, if you purchase shares of a stock for $1,000, your basis in that stock is $1,000; if you then sell those shares for $3,000, the gain is calculated based on the difference between the sales
- [Employee Spotlight – Erica Stout](https://www.slatterycpa.com/employee-spotlight-erica-stout/) - What year did you join Slattery & Holman? July 2021 Tell us a little about where you attended college and the degree(s) you earned? Any special accomplishments. IU Bloomington B.S. in Accounting and Finance What is your favorite thing about living in Indiana? The Indy airport and fall in Bloomington. Tell me a little about
- [Fall Tax Planning May Be Wise](https://www.slatterycpa.com/fall-tax-planning-may-be-wise/) - Taxes are like vehicles in that they need a periodic check-up to make sure they are performing as expected, and if ignored, could cost you money. The following is a list of potentially beneficial tax strategies. Every taxpayer’s situation is unique, and not all of the strategies suggested here will apply to you. However, opportunities
- [Business Success Stories - The Explosive Growth of Zoom](https://www.slatterycpa.com/business-success-stories-the-explosive-growth-of-zoom/) - Video conferencing in and of itself is certainly nothing new. It's been around in some form or another for decades — businesses used it for remote meetings in the 1990s, and personal users have been "Skyping" with friends and family since high-speed Internet connections found their way into homes. Certain organizations have become virtually synonymous
- [Key Tax Provisions Included in New Infrastructure Bill](https://www.slatterycpa.com/key-tax-provisions-included-in-new-infrastructure-bill/) - On November 5, the House voted to pass the Infrastructure Investment and Jobs Act (IIJA), which had previously passed in the Senate. The bill now heads to the White House, where President Biden is expected to sign it into law. Though the main focus of the new legislation is on allocating tax dollars for infrastructure
- [Employee Spotlight – Kaylan Hudson](https://www.slatterycpa.com/employee-spotlight-kaylan-hudson/) - What year did you join Slattery & Holman? 2019 Tell us a little about where you attended college and the degree(s) you earned? Any special accomplishments. Indiana University Kokomo, where I double-majored in Accounting & Business Management. I'm the only child to graduate from college in my immediate family thus far. What is your favorite
- [Tax Issues Related to Renting Your Vacation Home](https://www.slatterycpa.com/tax-issues-related-to-renting-your-vacation-home/) - Do you own a second home at the beach, in the mountains or another getaway location? Or are you thinking about buying one? If so, then you may have thought about the possibility of renting it out. Doing so can offset some of the expenses related to the property, and you may even reap a
- [IRS Extends COVID-19 Relief Leave Donations](https://www.slatterycpa.com/irs-extends-covid-19-relief-leave-donations/) - As part of the emergency disaster declaration made by President Trump on March 13, 2020, it became possible for employees to donate their unused paid sick, vacation or personal leave to qualified charities that provided COVID-19 relief in 2020. The IRS recently extended leave donations through 2021. This is a great opportunity to provide sorely
- [Entrepreneur Success Story: How Canva Reached a $15 Billion Evaluation and Made Its Young Founders Billionaires](https://www.slatterycpa.com/entrepreneur-success-story-how-canva-reached-a-15-billion-evaluation-and-made-its-young-founders-billionaires/) - Human beings are visual learners. They always have been, and they always will be. A big part of this has to do with the way the human brain works. According to one recent study, when people hear information, they generally only remember about 10% of it. If that information is paired with relevant visuals, such
- [Aaron Coers Celebrates Thirty Years With Slattery!](https://www.slatterycpa.com/aaron-coers-celebrates-thirty-years-with-slattery/) - Today we’re celebrating 30 wonderful years with Aaron Coers! He joined the firm in 1991 and became a partner in 2002. Slattery & Holman, P.C. has benefitted from Aaron’s vast knowledge and willingness to share his wisdom with both clients and coworkers. We can’t imagine the firm without him! Please join us in congratulating Aaron by liking and
- [Entrepreneur Success Stories: Zapier](https://www.slatterycpa.com/entrepreneur-success-stories-zapier/) - Success leaves clues. Zapier is a software company founded in 2011 by Wade Foster, Bryan Helmig and Mike Knoop. Zapier provides a service that helps end users automate the integration of online applications. Let's take a look at how this software integration company has taken the industry by storm. HOW ZAPIER GOT THEIR START Before
- [Employee Spotlight - Karen Keinsley](https://www.slatterycpa.com/employee-spotlight-karen-keinsley/) - What year did you join Slattery & Holman? 2007 Tell me a little about where you attended college and the degree(s) you earned? Any special accomplishments. I attended IU Southeast in New Albany, IN. I majored in business with a concentration in accounting. What is your favorite thing about living in Indiana? The people. Hoosier
- [Big Increase in Child Tax Credit For 2021](https://www.slatterycpa.com/big-increase-in-child-tax-credit-for-2021/) - An increased child tax credit is part of President Biden’s stimulus package to help tackle the coronavirus pandemic and stimulate the economy. This stimulus package, known as the American Rescue Plan Act, was passed by Congress on March 10, 2021, to provide lower-income parents with financial assistance and support various other efforts to stimulate the
- [SBA Raises Loan Limit For COVID-19 EIDL Loans to $500,000](https://www.slatterycpa.com/sba-raises-loan-limit-for-covid-19-eidl-loans-to-500000/) - As U.S. businesses continue to recover from COVID-19’s economic devastation, the U.S. Small Business Administration (SBA) is expanding loan opportunities. The agency announced that beginning in April, nonprofits and small businesses will be able to borrow up to $500,000 for up to 24 months. This expansion of the COVID-19 Economic Injury Disaster Loan (EIDL) program
- [New Tax Credit Covers Paid Leave for COVID-19 Vaccinations and Recovery](https://www.slatterycpa.com/new-tax-credit-covers-paid-leave-for-covid-19-vaccinations-and-recovery/) - The American Rescue Plan Act (ARP) expands the tax credits available under the Families First Coronavirus Response Act (FFCRP). The ARP Act does not mandate that employers provide paid family or sick leave; however, tax credits for employers that choose to continue providing Emergency Paid Sick Leave (EPSL) or Emergency FMLA (EFMLA) are available through
- [SBA Announces Changes to COVID-19 EIDL Loans](https://www.slatterycpa.com/sba-announces-changes-to-covid-19-eidl-loans/) - The U.S. Small Business Administration (SBA) recently announced a major update to the COVID-19 Economic Injury Disaster Loan (EIDL) program. As of the week of April 6, 2021, the maximum loan amount for COVID-19 EIDLs will increase to $500,000. Under the CARES Act, the EIDL program was expanded to cover eligible businesses experiencing substantial economic
- [IRS Announces Individual Tax Deadline Extension](https://www.slatterycpa.com/irs-announces-individual-tax-deadline-extension/) - On Wednesday, March 17, the Internal Revenue Service (IRS), in conjunction with the U.S. Treasury Department, announced an extension of the federal income tax filing due date for individuals. Individual returns for the 2020 tax year are now due on May 17, 2021, rather than the standard date of April 15, 2021. The IRS stated
- [American Rescue Plan Act](https://www.slatterycpa.com/american-rescue-plan-act/) - The American Rescue Plan Act (ARPA) was passed by the Senate on Saturday, March 6 and in the House on Wednesday, March 10. President Biden signed the bill into law on Thursday, March 11. Read on for details on the provisions included in the ARPA. Individual Stimulus Checks Estimated portion of the stimulus package: $422
- [Finally, The COVID Relief Package Is Law](https://www.slatterycpa.com/finally-the-covid-relief-package-is-law/) - After several months of the Republicans and Democrats not being able to agree on additional COVID­ related tax relief and other matters, as 2020 was coming to an end, horses were traded and deals were made so that Congress could put together the much-needed legislation. The result is a nearly 5,600- page omnibus bill, the
- [Don't Miss the Opportunity for a Spousal IRA](https://www.slatterycpa.com/dont-miss-the-opportunity-for-a-spousal-ira/) - One frequently overlooked tax benefit is the spousal IRA. Generally, IRA contributions are only allowed for taxpayers who have compensation (the term "compensation" includes wages, tips, bonuses, professional fees, commissions, taxable alimony received, and net income from self-employment). Spousal IRAs are the exception to that rule and allow a non-working or low-earning spouse to contribute
- [Biden's Proposed COVID Relief Package](https://www.slatterycpa.com/bidens-proposed-covid-relief-package/) - President Biden released his “American Rescue Plan” on January 14. It is a wish list of proposals he wants Congress to enact to address the COVID-19 pandemic and associated economic crisis. While some of the proposals are intended to be in effect for just one year, it is possible these could later be extended or
- [Sold or Thinking of Selling Your Home?](https://www.slatterycpa.com/sold-or-thinking-of-selling-your-home/) - In spite of (or in some cases, because of) the COVID-19 pandemic, and with near-record-low home mortgage interest rates, the housing market has been booming. September 2020 existing home sales were up 9.4% from August 2020 and 20.9% from 2019, according to the National Association of Realtors. If you sold your home this year or
- [Key Changes to the Employee Retention Credit](https://www.slatterycpa.com/key-changes-to-the-employee-retention-credit/) - On December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021 (CAA) into law. A recent article from JD Supra outlines two key provisions included in the act that make changes to the employee retention credit. Established by the CARES Act, the employee retention credit was designed to incentivize employers to maintain their staff
- [Congress Enacts Additional Stimulus Legislation](https://www.slatterycpa.com/president-enacts-additional-stimulus-legislation/) - On December 22, 2020, Congress passed the Consolidated Appropriations Act, 2021 (CAA2021), which includes $892 billion in coronavirus stimulus spending. This long-awaited and highly contested piece of legislation ties coronavirus relief funding into a $1.4 trillion resolution for funding the federal government through September of next year. The nearly $900 billion in stimulus funds comprises
- [Local Accounting Firm Celebrates 40 Years in the Community](https://www.slatterycpa.com/local-accounting-firm-celebrates-40-years-in-the-community/) - Carmel, IN – The local full-service accounting and consulting firm of Slattery & Holman, P.C. is pleased to announce the celebration of 40 years of service. “Forty years is an exceptional accomplishment for our firm,” said Dennis Slattery, CPA, co-founder and former managing partner of Slattery & Holman, P.C. “Our long-term success is a direct
- [Are You Reaping the Full Benefits of Your HSA?](https://www.slatterycpa.com/are-you-reaping-the-full-benefits-of-your-hsa/) - The Health Savings Account (HSA) is one of the most misunderstood and underused benefits in the Internal Revenue Code. Congress created HSAs as a way for individuals with high-deductible health plans (HDHPs) to save for medical expenses that are not covered by insurance due to the high-deductible provisions of their insurance coverage. HSA as a
- [12 Financial Metrics Small Business Owners Should Track](https://www.slatterycpa.com/12-financial-metrics-small-business-owners-should-track/) - Operating a small business is an exhilarating and, at times, overwhelming endeavor. There are so many details to keep track of that it’s easy to forget about the nuts and bolts of your organization’s finances – especially if you didn’t start out as a “numbers person.” Whether you’re the one assembling your financial reports or
- [The SBA Issues a Simplified PPP Loan Forgiveness Application](https://www.slatterycpa.com/the-sba-issues-a-simplified-ppp-loan-forgiveness-application/) - If you are the owner of a small business that obtained a Paycheck Protection Program (PPP) loan, you are most likely aware that the loan can be partially or totally forgiven if you used the loan proceeds for the required purposes. Loan forgiveness is not automatic and must be applied for. The borrower must submit a
- [Don't Miss Out on Year-End Tax Planning Opportunities](https://www.slatterycpa.com/dont-miss-out-on-year-end-tax-planning-opportunities/) - To say COVID-19 has made 2020 a disastrous year for just about everyone would be an understatement. In response to the economic slowdown and losses of income, Congress passed several extensive laws to benefit individuals and businesses that suffered financial hardship because of COVID-19. However, 2020 has given rise to more than the usual tax
- [Employee Spotlight - Michelle A. Kerr](https://www.slatterycpa.com/employee-spotlight-michelle-a-kerr/) - Get to Know Michelle What year did you join Slattery & Holman? 2004 Tell me a little about where you attended college and the degree(s) you earned. Any special accomplishments? I started at IU Bloomington for my first two years and finished my last year at IUPUI after coming to Indy for a summer to
- [Beware of COVID-Related Text Scams](https://www.slatterycpa.com/beware-of-covid-related-text-scams/) - On Wednesday, November 4, the Internal Revenue Service (IRS) released a warning about a new text scam involving a $1,200 Economic Impact Payment. The goal of this scam is to gain bank account information from taxpayers. The text message includes a message such as "You have received a direct deposit of $1,200 from COVID-19 TREAS
- [Top 5 Business Tax Deductions](https://www.slatterycpa.com/top-5-business-tax-deductions/) - For small businesses, an effective tax strategy can make a world of difference. Due to a lack of knowledge about business deductions—or sometimes a lack of creativity on the part of some CPAs—many business owners miss out on big opportunities. To learn about five of the top business deductions and determine if you are taking
- [SBA and Treasury Release New PPP Waiver](https://www.slatterycpa.com/sba-and-treasury-release-new-ppp-waiver/) - On October 8, the U.S. Small Business Administration (SBA) and the Treasury announced the release of a simplified forgiveness process for Paycheck Protection Program (PPP) participants that received loans of $50,000 or less. The agencies published a new interim final rule offering guidance for recipients of PPP loans equal to or less than $50,000 (“eligible
- [SBA Clarifies Due Date of PPP Forgiveness Applications](https://www.slatterycpa.com/sba-clarifies-due-date-of-ppp-forgiveness-applications/) - On October 13, the U.S. Small Business Administration (SBA) released clarifying guidance regarding the due date of forgiveness applications for loans issued via the Paycheck Protection Program (PPP). A recent article from the Journal of Accountancy offers an overview of the controversy surrounding the issue. Many borrowers were surprised to find that the PPP loan
- [New Phase 3 Provider Relief Funding Announced](https://www.slatterycpa.com/new-phase-3-provider-relief-funding-announced/) - On October 1, 2020, the Trump Administration announced a $20 billion Phase 3 Provider Relief Fund. Learn more about what this announcement means for you by clicking here.
- [How to Protect Yourself Against Coronavirus-Related Fraud](https://www.slatterycpa.com/how-to-protect-yourself-against-coronavirus-related-fraud/) - The global coronavirus pandemic has changed every single facet of our world – from the way we work to how we live our day-to-day lives – and we have been forced to quickly adjust to a new normal. Unfortunately, there are people out there who seek to take advantage of this turbulent time. The Internal
- [IRS Provides Additional 2020 RMD Rollover Relief](https://www.slatterycpa.com/irs-provides-additional-2020-rmd-rollover-relief/) - The CARES Act waived required minimum distributions (RMDs) from IRAs for 2020. However, the CARES Act was passed after many individuals had already taken their RMD for the year. That issue was originally alleviated when the federal government declared a coronavirus-related disaster that then enabled the IRS to extend numerous deadlines and due dates, including
- [Wealthy Taxpayers May Want to Strategize for Potential Tax Increases](https://www.slatterycpa.com/wealthy-taxpayers-may-want-to-strategize-for-potential-tax-increases/) - 2020 brought significant economic uncertainties. Couple that with an election year, and the outcome of the November elections could have a major impact on taxes for the wealthy. Regardless of who wins the November election, with rising deficits at the state and federal levels, government spending skyrocketing, and revenue dropping due to the COVID-19 pandemic,
- [Don't Throw Away That Notice 1444](https://www.slatterycpa.com/dont-throw-away-that-notice-1444/) - The IRS is mailing all recipients of Economic Impact Payments a Notice 1444 that provides information about the amount of their payment, how the payment was made, and how to report any payment that wasn't received. If you've already received your economic impact payment, you may have received this document as well. This notice was
- [SBA and Treasury Release Additional PPP Guidance](https://www.slatterycpa.com/sba-and-treasury-release-additional-ppp-guidance/) - On August 24, the Small Business Administration and Treasury released new guidance regarding Paycheck Protection Program (PPP) forgiveness issues. The new interim final rule covers two areas: owner-employee compensation and the eligibility of nonpayroll costs. A recent article from the Journal of Accountancy offers a concise summary of the new guidance. Owner-employee compensation – For
- [Employee Spotlight - Stuart Wood](https://www.slatterycpa.com/employee-spotlight-stuart-wood/) - Get to Know Stuart What year did you join Slattery & Holman? July 2020. Tell us a little about where you attended college and the degree(s) you earned? Any special accomplishments. Indiana University Kokomo with a degree in Accounting and Finance. What is your favorite thing about living in Indiana? I enjoy all the different
- [How Will The Payroll Tax Holiday Impact You?](https://www.slatterycpa.com/how-will-the-payroll-tax-holiday-impact-you/) - President Trump recently signed an executive order to defer payroll tax for a short period of time. In theory, this would assist Americans struggling from the economic effects of Coronavirus by keeping more money in every paycheck for a specified time. Below we’ve broken down some of the basics you should know about this payroll
- [Presidential Memos Address Coronavirus Issues](https://www.slatterycpa.com/presidential-memos-address-coronavirus-issues/) - Over the weekend, President Trump issued a series of executive actions. Three of the four memos aim at extending CARES Act provisions that have expired already or will expire soon. The fourth seeks to mimic the payroll tax holiday for which the President has been advocating. The four executive actions address the following areas: Unemployment
- [SBA Releases Updates On PPP Forgiveness](https://www.slatterycpa.com/sba-releases-updates-on-ppp-forgiveness/) - This week, the Small Business Administration (SBA) and the U.S. Department of the Treasury released new information for recipients of loans through the Paycheck Protection Program (PPP). A recent article from the Journal of Accountancy offers helpful details on the revised loan forgiveness application, the new EZ application, and the new interim final rule on
- [Senate Passes Paycheck Protection Flexibility Act](https://www.slatterycpa.com/senate-passes-paycheck-protection-flexibility-act/) - On Wednesday night, the Senate voted unanimously in favor of the Paycheck Protection Flexibility Act. This new legislation makes key adjustments to the timeline for spending Paycheck Protection Program (PPP) funds and revises how loan recipients are required to allocate the money. Here is a brief overview of the key provisions contained in the bill:
- [Did You Take Your 2020 RMD Too Soon?](https://www.slatterycpa.com/did-you-take-your-2020-rmd-too-soon/) - As part of the CARES Act, the requirement for older taxpayers to take required minimum distributions (RMDs) from their retirement plans has been waived for 2020. This is primarily due to the drop in value for most investments as a result of the economic effects of COVID-19. RMDs are required distributions from qualified retirement plans
- [Employers Can Defer Payroll Taxes](https://www.slatterycpa.com/employers-can-defer-payroll-taxes/) - One of the benefits included in the COVID-19 epidemic stimulus package is the ability of an employer to defer payment of the employer's share of certain federal payroll taxes. The deferral applies to the employer's 6.2% share of the Social Security (OASDI) payroll tax. The deferral does not apply to the employer's 1.45% share of
- [Important Tax Due Dates – June & July 2020](https://www.slatterycpa.com/important-tax-due-dates-june-july-2020/) - July 2020 Individual Due Dates July 15 – Pay Federal Estimated Taxes for Both Q1 and Q2 2020 Individuals who are not paying their annual income tax through withholding should make quarterly estimated tax payments using Form 1040-ES or pay online at www.irs.gov/payments. In response to the coronavirus pandemic, both the first and second federal
- [Employee Spotlight - Tatiana Sims](https://www.slatterycpa.com/employee-spotlight-tatiana-sims/) - Tatiana Sims, CPA started her professional career with the Slattery & Holman team in 2014. As a senior accountant, Tatiana provides expertise in accounting, tax, and general consulting services concentrated, but not limited to, dental practices and various medical specialty practices. Get to Know Tatiana What year did you join Slattery & Holman? 2014 What
- [SBA Releases Application for PPP Loan Forgiveness](https://www.slatterycpa.com/sba-releases-application-for-ppp-loan-forgiveness/) - On Friday, May 15, the Small Business Administration (SBA) announced an important release for borrowers who received loans through the Paycheck Protection Program (PPP). The bureau made public a form and instructions for borrowers to use to apply for PPP loan forgiveness. The application must be completed and submitted to the lender that serviced the
- [Tax Credit Pays for Keeping Employees on Payroll](https://www.slatterycpa.com/tax-credit-pays-for-keeping-employees-on-payroll/) - To help businesses retain employees and keep them employed during the COVID-19 crisis, Congress has provided a refundable employer retention credit available to all qualifying employers regardless of size, including tax-exempt organizations. To qualify for the credit, employers must fall into one of two categories: Business Operations Curtailed: Eligible employers were carrying out a trade
- [Congress Makes Charitable Giving Easier During the COVID-19 Crisis](https://www.slatterycpa.com/congress-makes-charitable-giving-easier-during-the-covid-19-crisis/) - To encourage charitable contributions to deserving qualified charities during these trying times, Congress has relaxed some of its restrictions related to how much a taxpayer can deduct as a charitable contribution in any given year. Under normal circumstances, cash contributions are limited to 60% of a taxpayer's adjusted gross income (AGI). However, as has happened
- [Achieving PPP Loan Forgiveness](https://www.slatterycpa.com/achieving-ppp-loan-forgiveness/) - Businesses that have managed to secure financing through the Paycheck Protection Program (PPP) are fortunate, but still face deciphering the ambiguous definitions and requirements for determining loan forgiveness. Owners and managers must carefully adhere to the terms of the program in order to qualify for loan forgiveness. In response to the coronavirus pandemic, Congress created
- [Where’s My Recovery Rebate?](https://www.slatterycpa.com/wheres-my-recovery-rebate/) - To Our Clients and Friends, As part of the recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act, direct economic recovery payments are being distributed to eligible American taxpayers. Distribution of recovery rebates began this week. If you are expecting a federal recovery rebate, but have not yet received it, visit the IRS website for
- [CARES Act FAQ: Recovery Rebate](https://www.slatterycpa.com/cares-act-faq-recovery-rebate/) - On March 27th, President Trump enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The historic $2.2 trillion stimulus bill includes an estimated $300 billion in direct payments to eligible American taxpayers. Below, we address some of the common questions regarding this particular initiative. If you cannot find the answer to your question, please
- [Watch Out for Coronavirus-Related Scams](https://www.slatterycpa.com/watch-out-for-coronavirus-related-scams/) - On Thursday, April 2, the Internal Revenue Service (IRS) issued a warning concerning the development of new scams related to the coronavirus, particularly the recovery rebates legislated by the CARES Act. It is not surprising that criminals are taking advantage of the chaos resulting from the coronavirus outbreak to perpetrate fraud. The IRS has observed
- [CARES FAQ: Paycheck Protection Program & Economic Injury Disaster Loan](https://www.slatterycpa.com/cares-faq-paycheck-protection-program-economic-injury-disaster-loan/) - To Our Clients and Friends, On March 27th, President Trump enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The historic $2.2 trillion stimulus bill includes $10 billion in funding to provide emergency grants to small businesses and nonprofits that apply for economic injury disaster loans. Below, we address some of the common questions
- [A Letter to Our Clients](https://www.slatterycpa.com/a-letter-to-our-clients/) - As we continue to monitor the ongoing developments of the Coronavirus (COVID-19), we want to reach out to you now that we have more information about the challenges facing us during this global pandemic. First and foremost, for those who are impacted directly or indirectly by the virus, especially those who may be ill, our
- [Coronavirus Disaster Assistance](https://www.slatterycpa.com/coronavirus-disaster-assistance/) - The U.S. Small Business Administration (SBA), which has been a resource for small business owners and entrepreneurs in the U.S. since 1953, recently released a list of disaster-relief measures in response to the COVID-19 pandemic. Per the Coronavirus Preparedness and Response Supplemental Appropriations Act, which was enacted by the President on March 6th, the SBA
- [Charting New Territory: Business Strategy During the COVID-19 Outbreak](https://www.slatterycpa.com/charting-new-territory-business-strategy-during-the-covid-19-outbreak/) - As the COVID-19 pandemic continues to unfold, business owners are facing a lot of uncertainty. It is not possible to know with confidence how events will continue to evolve over the next days, weeks, and months. However, there are some key steps that business owners can take to strive to mitigate damages and put themselves
- [8 Areas Where Small Businesses Should Anticipate Disruption](https://www.slatterycpa.com/8-areas-where-small-businesses-should-anticipate-disruption/) - For more than six decades, the U.S. Small Business Administration (SBA) has been a resource for small business owners and entrepreneurs in the U.S. In response to the COVID-19 pandemic, the bureau created a resource page dedicated to helping small businesses learn to establish safe, secure, and healthy practices in the face of the outbreak.
- [What Does Paid Sick Leave Mean for My Organization?](https://www.slatterycpa.com/what-does-paid-sick-leave-mean-for-my-organization/) - On Wednesday, March 18, President Trump enacted a coronavirus emergency relief package, the Families First Coronavirus Response Act. The legislation includes relief for American workers required to take time off work because of the coronavirus, the Emergency Paid Leave Act of 2020. In order to help employers manage the cost of paid sick leave, the
- [Do I Qualify for Paid Sick Leave Under the New Coronavirus Act?](https://www.slatterycpa.com/do-i-qualify-for-paid-sick-leave-under-the-new-coronavirus-act/) - On Wednesday, March 18, President Trump enacted a coronavirus emergency relief package, the Families First Coronavirus Response Act. The legislation includes relief for American workers required to take time off work because of the coronavirus, the Emergency Paid Leave Act of 2020. The act includes both paid leave benefits for American workers and tax credits
- [Updated State of Affairs, Tax and Compliance Changes](https://www.slatterycpa.com/updated-state-of-affairs-tax-and-compliance-changes/) - To Our Clients, It is our hope that you are healthy and safe as the Coronavirus continues to impact our lives in extraordinary ways. We remain alert to news about the rapidly evolving state of affairs and any tax and compliance changes that affect you, your families and your businesses. We are here to provide
- [CARES Act FAQ: Retirement Plan Withdrawals](https://www.slatterycpa.com/cares-act-faq-retirement-plan-withdrawals/) - On March 27th, President Trump enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The historic $2.2 trillion stimulus bill includes an allowance for penalty-free early withdrawals from retirement accounts. Below, we address some of the common questions regarding this particular initiative. If you cannot find the answer to your question, please do not
- [CARES Act FAQ: Emergency Economic Injury Grants](https://www.slatterycpa.com/cares-act-faq-emergency-economic-injury-grants/) - On March 27th, President Trump enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The historic $2.2 trillion stimulus bill includes $10 billion in funding to provide emergency grants to small businesses and nonprofits that apply for economic injury disaster loans. Below, we address some of the common questions regarding this particular initiative. If
- [COVID-19 Scenarios and Benefits Available](https://www.slatterycpa.com/covid-19-scenarios-and-benefits-available/) - The information on this flier is meant to give a general picture of benefits and rights available in certain COVID-19 work-related situations. Download the PDF here »
- [Tax Payment Deadline Delayed by 90 Days](https://www.slatterycpa.com/tax-payment-deadline-delayed-by-90-days/) - There has been much speculation surrounding the impact of the Coronavirus (COVID-19) pandemic on the U.S. tax filing deadline. At a Tuesday White House briefing, Treasury Secretary Steven Mnuchin announced new relief measures that are effective immediately. The Internal Revenue Services (IRS) has extended the tax payment deadline for 2019 income taxes for individuals who
- [Employee Spotlight - Kevin Wittmeyer, CPA](https://www.slatterycpa.com/employee-spotlight-kevin-wittmeyer-cpa/) - Kevin Wittmeyer, CPA joined the Slattery & Holman team in 2012, establishing his professional career with the firm. He is now a partner, working in tax and advisory services and participating in the firm’s management group. A skilled advisor, Kevin specializes in working with closely held businesses to achieve their specific organizational goals. His clients
- [Still Dealing with 2019 in QBO? Clearing the Way for 2020](https://www.slatterycpa.com/still-dealing-with-2019-in-qbo-clearing-the-way-for-2020/) - It would be great if you could have closed out 2019 knowing that you were all caught up with your accounting work. You sent all your invoices, paid all your bills, and wrapped everything up with a series of reports and a proverbial bow. Unfortunately, December rarely goes that way. You’re making last-minute adjustments for
- [Is Your Will or Trust Up-to-Date?](https://www.slatterycpa.com/is-your-will-or-trust-up-to-date/) - When was the last time you or your attorney reviewed or updated your will or trust? If it was before the passage of the 2017 tax reform legislation, or the Tax Cuts and Jobs Act (TCJA), your documents may be out of date. Among the many changes in that law was a more than doubling
- [Understanding Tax Lingo](https://www.slatterycpa.com/understanding-tax-lingo/) - When discussing taxes, reading tax related articles or interpreting instructions, one needs to understand the lingo and acronyms used by tax professionals and authors to be able to grasp what they are saying. It can be difficult to understand tax strategies if you are not familiar with the basic terminologies used in taxation. The following
- [Understanding Your Annual Social Security Letter](https://www.slatterycpa.com/understanding-your-annual-social-security-letter/) - If you are receiving Social Security, then you have just recently received your annual letter from the Social Security Administration letting you know that your Social Security benefits for 2020 have increased by 1.6 percent as a result of a rise in the cost of living. The letter also lets you know how much will
- [Congress Passes Last-Minute Tax Changes](https://www.slatterycpa.com/congress-passes-last-minute-tax-changes/) - Congress, at almost the last minute, has passed a large number of tax changes, including retirement plan issues that will become effective in 2020, as well as extensions through 2020 of a number of tax provisions that had expired or were about to end. The list of changes is quite large, so we have only
- [Did You Miss the Qualified Business Income Deduction? There is still time!](https://www.slatterycpa.com/did-you-miss-the-qualified-business-income-deduction-there-is-still-time/) - One new deduction many of our clients are taking advantage of is the qualified business income deduction (QBI). How can you take advantage of these tax deductions?
- [It is Time to Start Tax Planning Now](https://www.slatterycpa.com/it-is-time-to-start-tax-planning-now/) - Waiting until the first quarter to start thinking about tax planning is too late because you may have missed many opportunities to reduce your tax obligations. 
- [How Long Should Business Owners Hold on to Tax Documents?](https://www.slatterycpa.com/how-long-should-business-owners-hold-on-to-tax-documents/) - Here is a rundown of important tax document retention guidelines for common and relevant small business documents that may be helpful as you cut down clutter.
- [Tax Planning 2018: What Small Business Owners Need to Know](https://www.slatterycpa.com/tax-planning-2018-what-small-business-owners-need-to-know/) - Are you a business owner seeking to better understand the implications of Tax Cuts and Jobs Act (TCJA) on 2018 taxes? Here are 4 areas to discuss with your accountant.

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- [SafeSend Support](https://www.slatterycpa.com/tools/safesend-support/) - Slattery & Holman, P.C. has partnered with SafeSend helping to ensure your tax return process from start to finish is fast, easy, and secure.
- [Tax Payment Links](https://www.slatterycpa.com/tax-payment-links/) - How to make electronic and mailed payments for federal and Indiana tax liabilities, estimated taxes, and tax extensions.
- [Our Principals and Management Team](https://www.slatterycpa.com/company-profile/our-principals-management-team/) - Slattery and Holman CPAs are proud of our principals, management and accountants. We work well together to meet our clients business and financial goals.
- [Tax Payment Instructions](https://www.slatterycpa.com/tax-payment-instructions/) - Tax Payment Instructions and Links Note: Tax Liability Payments and Tax Extension Payments are credited to a different tax year than Estimated Tax Payments and should be paid in separate transactions for proper credit. Please make the proper selections below based on your intended payment. Estimated Tax Payment Instructions (Tax Year: 2025) Tax Liability Instructions
- [Careers](https://www.slatterycpa.com/accounting-careers/) - Slattery & Holman is a different kind of CPA firm - especially when hiring accountants. We provide a variety of opportunities to broaden your skills.
- [SafeSend: Exchange](https://www.slatterycpa.com/tools/safesend-support/safesend-exchange/) - SafeSend Exchange ensures data safety and peace of mind by providing us a secure way to share and access files without you having to create an account.
- [SafeSend: Returns - Payments](https://www.slatterycpa.com/tools/safesend-support/safesend-returns-payments/) - Learn more about how to make tax voucher payments, view/edit/clear payment details, and set voucher reminders within the SafeSend platform.
- [Experienced Professionals](https://www.slatterycpa.com/accounting-careers/experienced-professional-accountants/) - Slattery & Holman has a lot to offer experienced professionals looking for an accounting career. We appreciate individual differences and diverse styles.
- [College Graduates](https://www.slatterycpa.com/accounting-careers/accounting-career-college-graduates/) - Slattery and Holman entry level accounting jobs promote flexibility, creativity,and upward mobility. We encourage frequent and direct contact with clients.
- [Connect](https://www.slatterycpa.com/connect/) - "*" indicates required fields EmailThis field is for validation purposes and should be left unchanged.First Name* First Last Name* Last Email* Major(s)*Year of Graduation*Submit Your Resume Drop files here or Select files Max. file size: 50 MB, Max. files: 10. Security Check* Δ
- [Internships](https://www.slatterycpa.com/accounting-careers/internships/) - Slattery and Holman entry level accounting jobs promote flexibility, creativity,and upward mobility. We encourage frequent and direct contact with clients.
- [SafeSend: Organizers](https://www.slatterycpa.com/tools/safesend-support/safesend-organizers/) - Electronically complete your tax organizer, sign your engagement letter, and even upload any necessary tax documents without ever leaving your home.
- [SafeSend: Returns](https://www.slatterycpa.com/tools/safesend-support/safesend-returns/) - With SafeSend Returns, you can easily and securely access your returns, review, e-sign, make tax payments, and schedule tax payment reminders.
- [SafeSend: Frequently Asked Questions](https://www.slatterycpa.com/tools/safesend-support/safesend-faqs/) - Find the answers to your questions about SafeSend, helping make the tax return process fast, easy, and secure, from start to finish.
- [Tools](https://www.slatterycpa.com/tools/) - Tools Tax and Business Alert Identity Theft SafeSend Returns 2024 Tax Reference Guide (PDF)
- [Tax Services](https://www.slatterycpa.com/accounting-services/tax-services-indianapolis/) - Slattery and Holman CPAs understand complexity of taxes and work with you to structure your business transactions to effectively strategize your tax position.
- [Contact Us](https://www.slatterycpa.com/contact-us/) - Slattery & Holman CPAs have a strong reputation for developing successful relationships with clients. Contact us today to learn more about our partnerships.
- [About  Slattery &  Holman](https://www.slatterycpa.com/company-profile/about-us/) - Slattery & Holman is a full-service accounting and consulting firm serving businesses and individuals in Indiana, building relationships that last decades.
- [Business Consulting Services](https://www.slatterycpa.com/accounting-services/business-consulting-services/) - Slattery and Holman CPAs are business consultants working with a broad range of industries in all stages of business: start up, growth, success, and maturity.
- [Long-Term Care](https://www.slatterycpa.com/industries/long-term-care/) - Slattery and Holman CPAs expertise in long-term care, with our tax & financial experience, allows us to help our partners with their financial consulting needs.
- [Accounting Services](https://www.slatterycpa.com/accounting-services/) - Accounting Services Our team approach benefits your bottom line We believe in a team approach because it works best for our clients. Thirty years of experience bears this out. While, on average, clients typically stay with a CPA firm for 7 years, our client relationships often last 20 years or more - nearly three times
- [Manufacturers and Distributors](https://www.slatterycpa.com/industries/manufacturing-and-distribution/) - Slattery and Holman takes pride in helping Indiana's home grown manufacturers and distributors compete and succeed. Contact us today - 317-843-5715.
- [Construction Contractors](https://www.slatterycpa.com/industries/construction-contractors-accountant/) - Over the years, Slattery and Holman CPAs have worked with many construction contractors -specialty subs, GCs and home builders. We understand your business.
- [Industry Expertise](https://www.slatterycpa.com/industries/) - At Slattery and Holman CPAs, we build your team of accountants based on your industry, specific financial requirements, and the expertise of our people.
- [Medicare & Medicaid Reporting and Reimbursement](https://www.slatterycpa.com/accounting-services/medicare-medicaid-reporting-reimbursement/) - Long Term Care and Medicare and Medicaid reporting and reimbursement is a core expertise of Slattery and Holman CPAs.
- [Identity Theft](https://www.slatterycpa.com/tools/identity-theft/) - The fraudulent acquisition and use of a person’s private identifying information, usually for financial gain.
- [Client Login](https://www.slatterycpa.com/client-login/) - Client Login Email: Password: Forgot Password?
- [Privacy Policy](https://www.slatterycpa.com/privacy-policy/) - Privacy Policy We respect and are committed to protecting your privacy. We may collect personally identifiable information when you visit our site. We also automatically receive and record information on our server logs from your browser including your IP address, cookie information and the page(s) you visited. We will not sell your personally identifiable information
- [Refund Policy](https://www.slatterycpa.com/refund-policy/) - Refund Policy All payments are final and no refunds will be processed.
- [Sitemap](https://www.slatterycpa.com/sitemap/) - PagesAccounting Services Business Consulting Services Financial Reporting and Analysis Medicare & Medicaid Reporting and Reimbursement Tax Services Blog Careers College Graduates Experienced Professionals Internships Choose Your Payment Method Client Login Company Profile About Slattery & Holman Our Philosophy Our Principals and Management Team Connect Contact Us Estate Planning Home Industry Expertise Construction Contractors Dental Practices
- [Thank You](https://www.slatterycpa.com/thank-you-careers/) - Thank you for contacting Slattery & Holman. Your resume has been submitted successfully.
- [Thank You](https://www.slatterycpa.com/thank-you/) - Thank you for contacting Slattery & Holman. Your submission has been received. We will respond to your request shortly.
- [Veterinary Medicine](https://www.slatterycpa.com/industries/veterinary-accountants/) - For veterinarians, working with Slattery and Holman CPAs, an accounting firm experienced in veterinary accounting, is fundamental to your financial success.
- [Medical Practices](https://www.slatterycpa.com/industries/medical-practices-accountants/) - Slattery and Holman CPAs strive to meet your medical practice financial, tax and business needs with accounting consulting and advisory services.
- [Dental Practices](https://www.slatterycpa.com/industries/dental-cpa-indianapolis/) - Slattery and Holman CPAs can meet your financial, tax and business needs with dental consulting and advisory services finely tuned to your practice needs.
- [Financial Reporting and Analysis](https://www.slatterycpa.com/accounting-services/financial-reporting/) - Slattery and Holman CPAs believe effective financial communication is essential to your business. Accurate reports enable better financial communication.
- [Company Profile](https://www.slatterycpa.com/company-profile/)
- [Estate Planning](https://www.slatterycpa.com/estate-planning/)
- [Profit Improvement](https://www.slatterycpa.com/profit-improvement/)
- [Our Philosophy](https://www.slatterycpa.com/company-profile/our-philosophy/)

## Testimonials

- [David Hollander, Carmel](https://www.slatterycpa.com/testimonial/david-hollander-carmel/) - "Dennis Slattery and Michelle Kerr have handled my corporate and personal accounting needs with incredible expertise for many decades. They treat me as if I were their own family members. I feel a very high level of trust with them. Their response to queries has always been prompt and thoughtful. They always provide me with
- [Michael L., Indianapolis](https://www.slatterycpa.com/testimonial/michael-l-indianapolis/) - "Ann and I are so fortunate to be your clients and friends."
- [Jim T., Real Estate Broker, Hamilton County](https://www.slatterycpa.com/testimonial/jim-t-real-estate-broker-hamilton-county/) - Slattery and Holman CPAs are business consultants working with a broad range of industries in all stages of business: start up, growth, success, and maturity.
- [John Ludwig, Indianapolis](https://www.slatterycpa.com/testimonial/john-ludwig-indianapolis/) - "I am proud to have worked with your group for so many years."
- [Dr. Mark Hamilton, Indianapolis](https://www.slatterycpa.com/testimonial/dr-mark-hamilton-indianapolis/) - "Slattery and Holman, P.C. gives such great thought and attention to my practice and our financial matters. It is reassuring to have such honest and thorough professionals overlooking our finances - thank you!"
- [Tom McSoley, Partner, Otolaryngology Associates](https://www.slatterycpa.com/testimonial/tom-mcsoley-partner-otolaryngology-associates/) - "My group and especially Betsy and I have been so fortunate to have been your clients and friends since 1983."
- [Daphna, Franklin](https://www.slatterycpa.com/testimonial/daphna-franklin/) - "Slattery & Holman have walked by my side over four decades, from my days as a bookkeeper, to starting my own business, and eventually growing to nine facilities. Always knowledgeable, professional and demonstrating great character, they have been faithful friends. Thank you and may God continue to bless the work of your hands."

## Categories

- [Uncategorized](https://www.slatterycpa.com/category/uncategorized/)
- [Tax Documents](https://www.slatterycpa.com/category/tax-documents/)
- [Small Businesses](https://www.slatterycpa.com/category/small-businesses/)
- [Deductions](https://www.slatterycpa.com/category/deductions/)
- [Financial Strategy](https://www.slatterycpa.com/category/financial-strategy/)
- [Covid-19](https://www.slatterycpa.com/category/covid-19/)

## Testimonial Categories

- [Services](https://www.slatterycpa.com/testimonial-category/services/)