End of Tax Season Note from RBSK

21 04 2016

April 18th has arrived!  RBSK would like to take a minute to thank our colleagues, clients and friends for allowing us the opportunity to serve your needs.

We would also like to let everyone know that our offices will be closed Friday, April 22nd to allow our staff a well-deserved break.  We will be back in the office bright and early Monday morning.

Break





Nick Wallpe Newest Partner at RBSK

29 01 2016

John G. Seale, managing partner at RBSK Partners, is pleased to announce that Nick Wallpe has joined the partner group as a principal owner. Nick joined the firm on a full time basis September 1, 2005.

Nick graduated from Ball State University with a Master of Science degree in Business with a concentration in accounting. Along with his CPA designation he also carries the CGMA (Chartered Global Management Accountant).  He is a member of the American Institute of Certified Public Accountants and the Indiana CPA Society.  Nick exemplifies the leadership characteristics, professionalism and technical skills necessary to be a principal owner and is committed to taking this important professional step in his career.

Nick and his wife Melissa, and their two children, Andrew and Abigail, reside in Greensburg.

RBSK Partners PC provides a wide range of services to individuals and businesses in a variety of industries. At RBSK Partners PC, we strive to meet each client’s specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.

nick

Nick Wallpe, CPA





Big changes to FAFSA

4 12 2015

Have a child going to college?  Big changes to the FAFSA were announced from the White House in September.  The changes become effective in October of 2016 and will have a big impact for families with graduates in the year 2017 and beyond.

The new method is referred to as “prior-prior-year” because student’s college financial aid eligibility will now be based off of a family’s income from two years prior to when a student enters college.  Students entering college in the 2017-2018 school year will be able to use income tax information from their parent’s 2015 tax return.  Also with the prior-prior-year method you will be able to file a FAFSA form as early as October (2016).

Currently a student’s financial aid eligibility is based off of the income tax return for the previous year, so the eligibility for school year 2015 – 2016 is based off the 2014 income tax return.  Aid can change throughout the college years with a family’s finances, but the first year of aid could be crucial in playing a part in where a student will choose to attend college.  With current deadlines for filing the FAFSA ranging from January – March, nearly 4 million students file the FAFSA before they have access to the latest tax return.

With these welcomed changes, it will help students determine the true cost of attending college much earlier in the process.  It means students will be able to apply for aid earlier and more easily, and make better informed decisions about where to apply and how to pay for college.

sm_christa

Submitted by Christa Dickson





IRS Starts 2015 Tax Season on Time

16 01 2015

The Internal Revenue Service will begin accepting and processing tax returns on Tuesday, January 20, 2015.

The IRS expects to issue more than nine out of 10 refunds within 21 days. The fastest way to get a refund is to e-file and choose direct deposit. It takes longer to process paper returns and in light of IRS budget cuts resulting in a smaller staff, it will likely take an additional week or more to process paper returns meaning that those refunds are expected to be issued in seven weeks or more.  RBSK Partners offers efiling for all eligible income tax returns.

This year’s return will include new questions to incorporate provisions of the Affordable Care Act (or ACA). Taxpayers who have qualifying health insurance all year will simply need to check a box to verify they have health insurance coverage. Other taxpayers will have to provide additional details to determine if they are eligible for the premium tax credit or subject to the individual shared responsibility payment (penalty).  If you have questions regarding the new ACA, please contact RBSK.

RBSK Partners has sent tax organizers to all existing individual clients.  If you haven’t received one, or are interested in becoming a client, please contact RBSK Partners.

 

Submitted by Jean Ralston, CPA

Tax Manager, RBSK Partners PC

Jean 2013