Rob graduated from Indiana University in the spring of 1989 with a Bachelor of Arts Degree. He worked in banking for approximately five years starting in collections and ending in compliance and internal audit. The last two years with the bank, he was attending classes to gain a Post-Bachelorette Degree in Professional Accounting. Rob earned his CPA designation in 1997. In 1994, he took a position with a large regional firm in Evansville. His primary duties were in the tax and audit departments. After 4 ½ years there, he took a positon with a local company managing their tax and financial reporting. In the fall of 2004, he began his search to acquire a small local CPA firm. On January 1, 2005 Foncannon Tax & Financial Services was established.
Rob and his wife Kris, a school nurse in the Warrick County School Corporation, live in Newburgh and have three boys. Zack is a student at Indiana University studying informatics, Alex is a junior at Castle High School and plays soccer and Reece is a 7th grader at Castle South Middle School and enjoys playing soccer and hockey.
Rob works with clients to implement the most advantageous financial plans, with high concentration on value building and tax consequences. He plans and prepares individual and corporate tax returns.
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For many business owners, September tends to bring a bit of a slowdown. The chaos of getting kids prepared for going back to school has passed, and a focus on saving money tends to kick in as people prepare for the coming holiday spend. Combined, this can often translate into a lull for business owners.
This is a friendly reminder that the Q3 tax estimate payment deadline is coming up fast. Be sure to make your payment by September 15, 2018 to avoid penalties. Currently, penalties for late or no payment average about 4 percent. And wouldn’t you rather keep that money in your pocket?
According to new rules from the Tax Cuts & Jobs Act, meals and entertainment tax-deductible expenses for businesses have undergone considerable reform. Because the explanations of new deduction guidelines can be confusing, we’ve created this brief outline for you. A visit with your accounting professional to ensure your Chart of Accounts is correct may also be beneficial.