Stampfli Associates, CPAs

08/30/2022

We are hiring!! Staff Accountant needed

Established, independent CPA firm with a diverse client base is looking for an experienced, full-time Staff Accountant to join our team in downtown Bloomington, Indiana.
https://indeedhi.re/3ApowSy

08/28/2022

Our professional accounting firm is seeking a dedicated bookkeeper for our location in Bloomington, Indiana. The ideal candidate has 2-5 years' experience processing payroll, accounts payable and accounts receivable. Experience with QuickBooks is strongly preferred. To be successful in this role you must be comfortable communicating effectively with clients via email, over the phone and in person.
Apply online through Indeed using link below.
https://indeedhi.re/3BydzA1

08/26/2022

We are hiring: Staff Accountant

Established, independent CPA firm with a diverse client base is looking for an experienced, full-time Staff Accountant to join our team in downtown Bloomington, Indiana. Apply online through Indeed using link below.
https://indeedhi.re/3ApowSy

08/26/2022

Reviewing — and possibly revising — your nonprofit’s spending policy

Your not-for-profit likely follows a spending policy to determine how much of the value of your investments to tap each year for operating costs and capital projects. Although it’s usually a good idea to stick with an established spending policy, circumstances may warrant changes.

There are several types of policies, including fixed rate, rolling average, inflation-based, geometric and hybrid, all with pros and cons. When selecting a model, you should consider how that method potentially could cause you to increase spending and undermine your investments’ long-term growth. Contact us for help.

08/25/2022

A business or individual might be able to dispose of appreciated real property without being taxed on the gain by exchanging it rather than selling it. You can defer tax on your gain through a “like-kind” or Section 1031 exchange. A like-kind exchange is a swap of real property held for investment or for productive use in your trade or business for like-kind investment real property or business real property. For these purposes, “like-kind” is very broadly defined, and most real property is considered to be like-kind with other real property. However, neither the relinquished property nor the replacement property can be real property held primarily for sale. If you’re unsure whether the property involved in your exchange is eligible for a like-kind exchange, contact us to discuss the matter.

A business or individual might be able to dispose of appreciated real property without being taxed on the gain by exchanging it rather than selling it. You can defer tax on your gain through a “like-kind” or Section 1031 exchange. A like-kind exchange is a swap of real property held for investme...

08/24/2022

Our professional accounting firm is seeking an Administrative Assistant for our location in Bloomington, Indiana. In addition to answering the phone and greeting clients, job responsibilities will include: data entry, filing, scheduling, and general tax administrative support as needed. Discretion is key in this position, given the highly confidential and sensitive information involved. We deal with a diverse group of valued clients and visitors as well as various colleagues and vendors at all levels of the organization. If you are energetic and enjoy handling a variety of daily tasks, we would love to meet you!
Apply online through Indeed using link below.
https://indeedhi.re/3vElRT8

08/19/2022

Treasury and the IRS released initial guidance on Tuesday regarding a new requirement to qualify for the Sec. 30D clean vehicle tax credit, which is that the car or truck must be assembled in North America.

The Inflation Reduction Act, H.R. 5376, made broad changes to the clean vehicle tax credit, including extending it through 2032 and creating a new credit for previously owned clean vehicles (Sec. 25E), but the only change that took effect immediately upon enactment of the legislation Tuesday was the North America final assembly requirement.

For new clean vehicles purchased after Aug. 16, 2022 (the date President Joe Biden signed the legislation), the tax credit is generally available only if the qualifying vehicle's final assembly occurred in North America (final assembly requirement).

Treasury and the IRS released initial guidance on Tuesday regarding a new requirement to qualify for the Sec. 30D clean vehicle tax credit, which is that the car or truck must be assembled in North America. The Inflation Reduction Act, H.R. 5376, made broad changes to the clean vehicle tax credit,

08/19/2022

Businesses will soon be able to deduct more under the standard mileage rate

Business owners are aware that the price of gas is historically high, which has made their vehicle costs soar.
Fortunately, the IRS is providing some relief. The tax agency announced an increase in the optional standard mileage rate for the last six months of 2022. Taxpayers may use the optional cents-per-mile rate to calculate the deductible costs of operating a vehicle for business.
From July 1– Dec. 31, 2022, the standard mileage rate for business travel will be 62.5 cents per mile, up from 58.5 cents per mile for Jan. 1–June 30, 2022. Taxpayers also have the option of calculating the actual costs of using their vehicles rather than using the standard mileage rate. Contact us to learn more.

08/18/2022

A new generation is spearheading social movements, volunteering for causes and making charitable donations. If your organization isn’t paying attention to Generation Z — the youngest cohort of adults — you may miss out on its energy and support. This demographic is particularly motivated by social justice issues and is financially generous. Here’s how to engage these individuals.

A new generation is spearheading social movements, volunteering for causes and making charitable donations. If your organization isn’t paying attention to Generation Z — the youngest cohort of adults — you may miss out on its energy and support. This demographic is particularly motivated by so...

08/17/2022

You’re probably not thinking much about taxes right now, in part because inflation has you paying sky-high prices for essentials like food, clothing, and gas. But you may have heard that President Biden has signed the Inflation Reduction Act of 2022, a sweeping piece of legislation that is designed to address some of the significant issues that the U.S. is facing.

Some of those issues include the high cost of prescription drugs, healthcare availability, climate change, and, yes, hopefully inflation. Proponents of the legislation say that its various provisions for fighting climate change, supporting clean energy production, and raising tax revenue, will reduce the deficit and in turn, combat inflation. And some of the expanded tax credits in the legislation could benefit you.

https://bit.ly/3SrNmcr

Kyle Pomerleau of the American Enterprise Institute discusses the key tax provisions of the Inflation Reduction Act and what they mean for the future of tax policy.