Tax Alerts

Tax Briefing(s)

2011 Tax Year In Review

IRS releases business standard mileage rate for 2012
The business standard mileage rate, which many employers use to reimburse employees for business miles driven, is 55.5 cents-per-mile for 2012, the IRS has announced.  This reflects no change from ...

IRS relief for IRA owners entering into broker indemnification agreements
The IRS is providing temporary relief for owners of individual retirement accounts (IRAs) who have entered into indemnification agreements with brokers that may result in prohibited loan transactio...

IRS reminds dual citizenship taxpayers to report foreign accounts
The IRS recently reminded dual citizenship taxpayers and U.S. citizens residing abroad to file U.S. income tax returns and, if appropriate, Form TD F 90-22.1, Report of Foreign Bank and Financial A...

IRS revises regulations for capitalization of tangible assets
Just before year-end 2011, the IRS issued much-anticipated revised regulations on the capitalization of tangible assets. The IRS withdrew proposed regulations issued in 2008 and issued temporary an...

IRS updates Form 940 for mid-year expiration of FUTA surtax
The IRS has updated Form 940 to reflect the mid-year 2011 expiration of the 0.2 percent FUTA surtax. FUTA taxes for 2011 will be calculated using two rates, the IRS explained.Mid-yea...

IL - Credit not applicable to deferred property tax payments
The property tax credit against Illinois personal income tax does not apply to taxpayers who participate in the state’s senior citizens real estate tax deferral program. Unde...

IN - Extension guidance updated
The Indiana Department of Revenue has released an updated personal income tax information bulletin that outlines the procedures for obtaining an extension of time to file. Specific...

MI - Filing requirement for federally disregarded entities extended further
The Michigan Department of Treasury has revised a notice stating that while disregarded entities for federal tax purposes are required to file Michigan business tax (MBT) returns, ...

Welcome to the Website of Lysaught, Salmon & Company, Inc., CPA's

We are a Certified Public Accounting firm in Michigan City, Indiana. We were established in 1973 by our founder partners Edward L. Lysaught, CPA and Michael Salmon, CPA. Currently, the firm is operated by Chad R. Schroll, CPA - Director of Tax & Planning and David Lesnik - Director of Accounting & Auditing.  

Lysaught, Salmon & Company, Inc., CPA’s provides top quality accounting services that include bookkeeping services, accounting system advice, tax preparation, tax planning and consulting along with financial accounting services that includes audits, reviews and compilations. Our continual investment of time and resources in professional continuing education, state-of-the-art computer technology and extensive business relationships is indicative of our commitment to excellence.

Our firm’s mission is to provide our client’s with a closely trusted advisor in all things accounting related. We believe in the value of relationships. We view every client relationship like a partnership, and truly believe that our success is a result of your success. We are committed to providing close, personal attention to our clients. We take pride in giving you the assurance that the personal assistance you receive comes from years of advanced training, technical experience and financial acumen.