Gunnell Financial

07/01/2026

Congrats to one of our teammates, Patrick Groeschen for passing the final part of his Enrolled Agent exam today. He now joins me in being federal licensed to represent our clients with the IRS. Or to say sarcastically, he can now call the IRS and have them hang up on him like they to do me.

Great job Patrick!!!

05/26/2026

For our Indiana Clients

About every 10 years, Indiana offers a tax amnesty program. The window to apply is July 15 through Sept 9, 2026.

For the rules and restrictions, please click on the link below.

Tax Amnesty 2026 From July 15, 2026, through Sept. 9, 2026, taxpayers have a limited-time opportunity to pay past-due, eligible taxes and receive a waiver of related penalties, interest, and collection fees. During the 2025 legislative session, the Indiana General Assembly authorized the Indiana Dep...

05/20/2026

Our office will be closed this Friday, May 22nd. Many of you are aware that Patrick Groeschen in our office also flies Black Hawks for the Army. He's been invited to fly in the American Legion 500 Festival Memorial Service this Friday.

To support him, and our veterans, we will close our office so we can go to this event. It will be at the Indiana War Memorial just north of the circle.

As of today, the estimated flyover will be just before 1pm. The service begins at noon.

Thank you for your understanding. Should any of you need to drop off info to us, you can use our lockbox next to our front door. We will reopen on Tuesday May 26th.

We hope you all have a great Memorial Day weekend as we remember all those who have fought for our freedom.

05/15/2026

It is so important to have your beneficiaries correct on your retirement accounts and life insurance policies.

This is a crazy story where the family agrees on everything. It's the custodian and former employer that is stonewalling this.

A family’s fight over a retirement account shows the pitfalls around updating beneficiary information.

03/27/2026

The past few weeks we've had a few clients where we've done some in-depth tax planning and and issue that's come up with everyone is IRMAA. Income Related Monthly Adjustment Amount.

For a couple who's income goes above $218,000, your Medicare costs will go up about $2300 a year, but it will be 2 years before the increase happens. If the income is over $274,000, the increase is almost $5800 more a year. The higher the income, the higher the fee. Could be an extra $14,000 a year in Medicare fees.

What can cause this? The 2 biggest culprits are roth conversions and IRA distributions as part of funding Medicare Asset Trusts. Just 1 dollar over the threshold will subject you to IRMAA.

Medicare beneficiaries who earn over $109,000 a year and who are enrolled in Medicare Part B and/or Medicare Part D – pay the income-related monthly adjusted amount (IRMAA), which is a surcharge added to the Part B and Part D premiums.

02/27/2026

Congrats to Patrick Groeschen for passing another part of his Enrolled Agent tax exam. 2 parts down, 1 part to go!

02/21/2026

https://www.wsj.com/personal-finance/taxes/estimated-taxes-are-a-pain-heres-how-to-avoid-costly-penalties-d71cf00d?st=SKbZbL&reflink=article_copyURL_share

It’s important, but not easy, to get the timing right for tax payments on income that doesn’t have withholding.

02/18/2026

https://www.wsj.com/politics/policy/tax-deadline-waiver-changes-ab456be5?mod=politics_more_article_pos1

Attorneys race to file refund claims after the IRS loses court case.

02/02/2026

Congrats to Patrick Groeschen for passing part 1 of his Enrolled Agent exam today. 2 parts to go. With us having clients in about 40 states and 20 countries, we choose to be federally licensed for tax as Enrolled Agents (EA). The CPA license is a state license.

01/26/2026

A foot of snow so we’re closed for the day. Anticipate being open tomorrow. Be safe and stay warm.