Taxpayers who did not receive their first or second stimulus payments in 2020, were allowed to claim it as a credit on their 2020 income tax returns if their income (AGI) was below the phaseout thresholds. This credit is called the Recovery Rebate Credit and was claimed by a large number of taxpayers. However, those…
What this means for you: Federal deadline for filing tax returns moved to May 17th. We expect states will soon follow If you owe 2020 taxes, payments are now due May 17th We expect Q1 2021 tax estimates to be due on May 17th, rather than April 15th Why did the IRS extend the tax…
New Partnership to Provide Healthcare Strategic and Financial Consulting (Indianapolis, IND.) – March 10, 2021 – Donovan CPAs announces a new strategic partnership with JD Martin Healthcare Advisors to launch a total end-to-end Healthcare Strategic and Financial Consulting Service. As a result of this partnership, healthcare business clients will secure a complete service offering, including…
2020 has finally ended! We made it. We can breathe a sigh of relief. We all hopefully anticipate a healthier 2021! However, if you are a small business owner, 2020 cannot be fully be forgotten until all business and individual tax returns have been filed, and if applicable, the audit or review engagement is complete. …
Many times, entrepreneurs get so wrapped up in the day-to-day operation of their business they forget to take a step back and protect what they have built. Here are 5 things you can do to protect your growing business. Financial Planning – Sound financial planning has many aspects. It ranges from having a trusted…
On June 11, 2019, the U.S. Department of Treasury and the Internal Revenue Service issued final regulations that limit the amount of charitable deductions available to taxpayers who claim credits on their state income tax returns. Popular Indiana credits include the college credit in which individuals may claim a credit up to 50% of the…
Donovan Named One of 15 Partners We are excited to announce a new partnership with the Old National Bank Center for Closely Held Business within Butler University’s Andre B. Lacy School of Business. Donovan CPAs was announced as one of its accredited partners to help companies working with the Center to achieve their goals. The…
A big congratulations is in order as one of our clients made history this September! Juncos Racing won not only one Pro Mazda Championship, but two! Before Juncos Racing, no team has ever snatched up two Mazda Road to Indy Presented by Cooper Tires driver’s championships in the same season. Juncos also made history by…
With the rebound in the economy, a large number of small business owners have taken on commercial property ownership. There can be some distinct advantages to owning a building vs. leasing, but either way, if you or your client have spent money on the space you occupy, there may be some tax advantages that might…
We Have Big Plans in the Works. As of July 1, 2017, our new Indianapolis office will be located at 9292 N. Meridian, Suite 150, Indianapolis, IN 46260. We’re bringing work environments that are more common in startups to the accounting industry. We will have open workspaces, unique work areas and innovative office designs. We are finalizing everything…