Agresta, Storms & O'Leary PC

We are hiring for Tax Manager - location Indianapolis, Columbus, Greensburg or Batesville #asocpas

Beware: If you extended your 2023 federal income tax return, the due date for filing your individual return is October 15, 2024. But there could be a silver lining. Now that you have a clearer picture of your tax situation, you may be better positioned to take advantage of certain tax breaks. Here are 10 ideas worth considering. #asocpas

What Can Your Small Business Do Now to Lower Taxes for 2024? Good news: Tax planning should be simpler this year for most small business owners. No significant unfavorable changes to the current tax rules are expected through 2025. Here are some strategies that you should consider implementing as soon as possible to reduce your business tax obligation for the 2024 tax year.  #asocpas #taxadvice #taxes

ASO Employee Appreciation - taking a break from taxes, audit and accounting work to enjoy a Cincinnati Reds game. #asocpas

What the New Overtime Rule Starting July 1, 2024, Means for Workers #asocpas

Smart Tax Planning Pays Off There's an old saying that two things are certain in life: death and taxes. Just like healthy eating and regular exercise can help you live longer, proactive tax planning can lower how much you pay in federal income taxes. So it's important to make taxes a forethought, not an afterthought. Here's why proactive tax planning is important for your long-term financial wellbeing. #asocpas #taxadvice #taxplanning

On behalf of the entire ASO team - Congratulations to our new CPA! Will Blagburn has successfully passed the CPA exam. #asocpas

Federal Tax News for Businesses 1. A report to help prevent and detect money laundering 2. Guidance for emergency savings accounts 3. New depreciation limits for certain business vehicles 4. Follow the tax rules to limit tax trouble 5. A credit to incentivize manufacturers 

Taxpayers that use cars, SUVs, pickups and vans for business purposes can deduct vehicle-related costs using standard mileage rates. However, most are better off deducting their actual expenses. The actual expense method requires you to calculate depreciation deductions, which can be complicated. Here are the basics to help you get it right. #asocpas #taxadvice #taxconsulting #taxes Full Article below

2 Important Breaks for Mature Taxpayers to Consider With age comes wisdom and potentially some valuable federal income tax breaks that aren't available to younger taxpayers. Specifically, people over age 50 might consider making deductible catch-up contributions to their retirement accounts. And they might itemize deductions, rather than claim the standard deduction, if their medical bills are over the income-based threshold. Here are the details. Full Article #asocpas #taxadvice #taxes