In The News

We have added our Pocket Tax Guide to the Sponsel CPA Group website as a resource to our visitors.

Click here to get your
copy now.

Tom Sponsel has been named to the 2011 United Way Campaign Cabinet. In this role, he will chair the Legal and Accounting Portfolio.

On May 17, 2011, he will also participate in the upcoming “Getting the Deal Done” seminar at the Hilton North. In past years, this has served as a popular M&A community forum.

Call 317.608.6699 today to schedule a consultation with one of our partners or visit our website.

Want to Grow Your Business?
Focus on Establishing a Personal Relationship With Customers

By Lisa Purichia
Partner and Director of Entrepreneurial Services

One of the most common complaints most business owners make is that they are dissatisfied with the lack of top-line growth in their business. On the flip side, when you talk to that same owner about their role as a vendor’s customer, they often complain about the lack of attention they receive from the respective vendor. Valid observations? Are they related? What needs to change?

As a result of the recent economic downturn, many companies focused on what they could cut out. In many cases, what they were cutting out was listening to and talking with their customers. The result? Those customers began to feel taken for granted.

Business Valuations:
Estate Tax Law, Discounts, Opportunities for Gifting

By Jason Thompson, CPA/ABV, ASA, CFE, CFF
Partner and Director of Valuation and Litigation Services Group

The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the “2010 Tax Relief Act”) signed into law on Dec. 17, 2010, included several provisions (although temporary) for the estate and gift tax. These provisions have lowered estate and gift tax rates, increased the estate and gift tax exemption and added portability to the exemption.

For 2011 and 2012, taxpayers subject to the estate and gift tax will be subject to the most lenient estate and gift tax laws on record in the United States. Unfortunately, after 2012, we are not certain what will happen with the estate and gift tax, putting us back in the quandary that existed in 2009.

Financial Planning:
Budgeting, Auditing and Tax — A Year-Round Endeavor

By Nicholas C. Hopkins, CPA, CFP®
Partner and Director of Tax Services

At this time of year, as we look forward with much anticipation to the upcoming spring break vacation and many of us grumble about the amount of taxes we are paying — or perhaps just lamenting about all the year-end corporate audit work — we often wonder: How can next year be different?

It is fair to acknowledge that many of us are either great at procrastinating about such matters or abdicating any responsibility, but know that we must address these issues at some point, looking in the mirror to find the responsible person.

Our recommendation is to make it a daily or weekly task and not just an annual New Year's resolution that only lasts about a week or 10 days. Make a plan to do better and a method to hold yourself accountable; after all, it is your financial health that is at stake: