New High Alpha startup offers financial services to fellow startups
Topo Advisors was founded by its CEO, Tim Page, who formerly helped advise High Alpha portfolio companies when he worked as finance manager at the venture studio.
Accounting
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Former church business manager sentenced to 2 years in prison
Investigators say Marie Carson illegally transferred $573,836 in church and school money into her private accounts from 2008 to 2021 and used much of the money to pay for casino gambling and an annual month-long vacation to Florida.
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Indianapolis accountant pleads guilty to defrauding IRS of at least $2.5M
According to court documents and statements made in court, between 2013 and 2022, Crace prepared income tax returns for clients that claimed millions of dollars in false deductions for so-called “royalty payments.”
Indiana 250: Katie Culp
Katie Culp is CEO of KSM Location Advisors, which is accounting firm Katz Sapper & Miller’s site selection and incentive consulting practice.
Lilly CFO Ashkenazi leaving to take job at Google parent Alphabet
Anat Ashkenazi was Lilly’s third-highest paid executive last year. She has worked at the company for 23 years, including as chief financial officer since 2021.
Indianapolis women sentenced after embezzling $270K from WFYI
A woman who worked as an accounting specialist at WFYI Public Media from 2018 to 2020 and her co-conspirator have been sentenced to three years of probation.
New IRS leader promises faster, easier tax filing process
Commissioner Danny Werfel delivered a tax-season pledge Tuesday that the agency will use an $80 billion infusion of cash to become faster, more tech-savvy and provide “real-world improvements” to taxpayers.
Local accounting-tech firm Decimal acquires cloud-based bookkeeping business from KPMG
Decimal, a software-as-a-service firm based in Indianapolis, has acquired the cloud-based bookkeeping business formerly owned by Big Four accounting firm KPMG.
Fishers bookkeeper sentenced for embezzlement after 8 years on lam
Jody Russell Trapp has been sentenced to federal prison for stealing more than $2.2 million from a Fishers company from 2009 to 2011. He fled to Utah and changed his name almost a decade ago before being recaptured.
Indiana-based ag-tech startup lands $3M in seed funding
Carmel-based Hageman Group, Indianapolis-based Allos Ventures and Indianapolis-based Elevate Ventures Inc. all participated in the funding round.
Accounting-tech firm Decimal lands $9.2M investment
Decimal’s software platform helps customers automate and outsource accounting tasks like bookkeeping and payroll. The company has added 30 employees since February.
New corporate climate change disclosures proposed by SEC
The required disclosures would include greenhouse gas emissions produced by companies directly or indirectly—such as from consumption of the company’s products, vehicles used to transport products, business travel and energy used to grow raw materials.
IRS rushes to hire 10,000 workers but giant backlog expected to persist
A government official said the IRS does not expect to resolve the backlog until the end of 2022. But it hopes the hiring surge, the largest at the IRS in decades, will galvanize a strong response to the mountain of unprocessed paperwork at the agency.
BKD CPAs & Advisors merges with North Carolina firm
BKD said its combination with Dixon Hughes Goodman will create a top 10 national professional services firm. BKD’s local office is the fourth-largest accounting firm in the Indianapolis area, according to IBJ research.
Accountant shortage puts crunch on hiring
Fewer students have been entering the accounting profession, and a salary gap between accounting and other financial professions means those accounting students might be lured to a different field.
Impending public finance retirements to worsen worker shortage
The sector that employs more than 850,000 state, county and city government workers may be on the verge of a so-called “silver tsunami,” according to the National Association of State Treasurers Foundation.
Somerset Cloud gets name change, new majority owner
The company founded as Somerset Cloud last year has a new name, majority owner and an even higher growth curve than originally projected.
Westfield council hears forensic investigators’ plan for reviewing city finances
Consultants from three different firms on Tuesday conducted a special presentation for the Westfield City Council about their investigation into the city’s finances and operations.
Indianapolis office manager lands 37-month sentence for embezzlement
A controller and office manager who worked for a local business consulting firm used the stolen funds to pay for a new Honda CRV, platinum jewelry and at least eight trips to a resort in Aruba.
Former downtown payroll firm owner gets six years for defrauding clients
David Downey, 51, who ran Time Payroll from 2009 to 2017, was ordered to pay back nearly $9 million for a scheme that defrauded clients in multiple states.
TurboTax maker Intuit buying Credit Karma in $7.1B deal
The agreement announced Monday would bring together the maker of TurboTax, QuickBooks and other personal finance tools with one focusing on consumers’ access to financial products, such as finding the right loan or credit card.