The 10-Year Collection Statute – Why is it so Important?

February 8, 2023 | Carmel

In tax resolution cases, there are many strategies that come into play when formulating a plan to resolve a tax debt.  From allowable expenses, to equity in assets, and many other items, effectively solving a tax problem for a taxpayer has many angles.  One angle is using the “Collection Statute Expiration Date” or CSED to a taxpayer’s advantage.  The CSED is important because the amount of time remaining on the collection statute helps determine which solution the practitioner should select. What is the Collection Statute Expiration Date or CSED?  Once the IRS assesses tax on a taxpayer, the IRS has, by statute, 10 years from the date of assessment to collect the tax.  In most cases, after 10 years the tax debt becomes unenforceable and the IRS writes-off the debt on the taxpayer’s account.  This makes the CSED a very useful tool in planning a tax resolution case for a client. If … Continued

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5 Ways to Remove Distractions and Focus On Your Business

February 21, 2022 | Bookkeeping Services

Being a business owner is tough, especially in today’s environment. Wage pressures, staffing shortages, and supply chain issues represent just a few of the challenges you face daily. Sometimes, you find yourself putting out fires all day, going home exhausted, and then realizing you didn’t accomplish anything substantial. Would you like to refocus, reduce the noise, and focus on your business? In this post, Edgewater CPA Group provides five ways to do just that. 

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5 Ways to Protect Against Inflation

February 7, 2022 | Carmel

Are you seeing your energy, gas, and grocery prices increase? When more demand than supply occurs, prices rise, and we call this inflation. Some say the question is whether or not inflation is transitory (temporary). At Edgewater CPA Group, we want you to stay calm and be prepared no matter what happens. Therefore, we put together this list of five things you can do to protect yourself against inflation. 

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How Leadership Requires Financial Transparency

January 23, 2022 | Accounting Services

There is no shortage of leadership books or programs for success. As a company leader or business owner, your inbox is probably inundated with conference invitations and seminars. While many experts and renowned leaders make strong points about what constitutes leadership, many leave out financial transparency. Why is financial transparency vital to your organization? Edgewater CPA Group explains more in this article.

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New Years Resolution: Better Financial Management

January 9, 2022 | Accounting Services

Are you a New Year’s resolution kind of person? It may not surprise you to learn that one of the most common resolutions is better financial management. Whether or not you’re the resolution type, any time is a good time for better money management. In this post, Edgewater CPA Group provides tips and tricks to help you achieve your financial goals.

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Try Business Bundling for Accounting, Tax, and Payroll Services

August 3, 2021 | Bookkeeping Services

Businesses constantly search for ways to streamline processes and cut costs. Every business charges money for a product or service. This means they must also pay employees, report revenue, track expenses, and pay taxes. All of these tasks require expertise and time, which is why outsourcing them as a package makes sense. Fortunately, Edgewater CPA Group offers business bundling for accounting, tax, and payroll services (and more).

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Why Investing in Hamilton County Suburban Cities Makes Sense

July 14, 2021 | Bookkeeping Services

Several Hamilton County cities enjoy top-rank placement as the best cities to live in the entire U.S. In fact, numerous publications, including Money.com and Wall Street Journal, repeatedly include our cities in their annual lists. Of course, you could argue that Carmel using tax incremental financing (TIF funds) to drive successful growth contributes to its ranking. Moreover, Carmel provides a successful model for other cities in the county, state, and country. In this post, Edgewater CPA Group reviews how TIF funds boost private investing in Hamilton County suburban cities.

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What Is Tax Reform’s Impact on Your Business?

June 17, 2021 | Carmel

The American Jobs Plan introduced by the Biden Administration, along with the accompanying Made in America Tax Plan, failed to achieve bipartisan agreement by Memorial Day. As a result, across-the-aisle talks continue in an effort to reach a consensus with regard to infrastructure spending and how to pay for it. Consequently, Edgewater CPA Group shares some of the proposals being discussed, so that you can understand the potential impact of these tax reforms on your business.

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Top 20 Reasons You Should Use a CPA: Part Two

April 15, 2021 | Carmel

At Edgewater CPA Group, we want our clients to focus on the things that matter most to them, such as family, business, and health. Why spend time worrying about tax laws and financials when you can use one of our experts to navigate them on your behalf? If you’re not convinced, we have compiled a list of 20 reasons you should use a CPA. Our last blog contained the first ten reasons, and this blog includes ten additional reasons. Let’s dive right in!

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