Despite the impact of COVID-19, Indiana still stands tall as one of the best states for business. For the fifth year in a row, Chief Executive magazine recently ranked the Hoosier state near the top at the number five spot.

Although manufacturing reigns supreme here, Indiana strives to diversify with a stronger focus on innovation and technology, welcoming such companies as ActiveCampaign, eHealth and Zotec.

Indiana boasts many tax incentives for businesses, along with low tax rates, business-friendly state government and prudent fiscal responsibility - all of which make the state a great place to start and grow a business.

For some, the year 2020 cannot end soon enough! The world is pretty chaotic right now, and it's undoubtedly taking a toll on you. You may also feel that, with the pressures of dealing with the daily "chaos," you cannot allow yourself to be away from these challenges ... but you MUST! Given COVID-19 risks, you probably shouldn't comb a crowded beach, but you should plan some type of vacation. Rest and recuperation are the sources of your energy and focus to deliver on your goals for the second half of the year.

With so much negativity in the news these days, you're bound to have the blues.  A University of Pittsburgh study showed that taking a vacation can alleviate depressive symptoms and elevate positive emotions. In addition to your mind, vacationing is good for your heart as well. A Syracuse University study showed that vacationing lowers the risk of metabolic syndrome, thus making people less susceptible to cardiovascular disease.

With COVID-19 cases still in existence and protests breaking out across the country, you may find yourself stuck in an anxious state. If you go downtown, you will see businesses, restaurants and other hospitality businesses boarded up all around you. This is very upsetting to the everyday Hoosier, but leaders must respond, react and put plans in place that will lead to a better future for all!

As always, don't lose sight of the long-term vision for your company. Just realize that you'll have to adjust your vision a bit. COVID-19 undoubtedly disrupted your plans for 2020, in a very unprecedented and unique manner. Like most businesses, you probably spent more time reacting daily than being proactive about anything else. But don't beat yourself up. Now that we're slowly reopening businesses, adjusting our workplaces and looking at our businesses through a different lens, it's time to start fresh for 2020, recalibrate your expectations and move toward the future.

Raised in Crown Point, Lindsey Anderson moved to the east coast after graduating with a bachelor's degree in accounting from the University of Indianapolis. Fortunately she returned to her Hoosier roots and joined the Sponsel family in 2012.

As a Manager in the Tax Services department, her duties include tax compliance, projections and consulting with clients across a wide spectrum of industries. She also delivers outsourced CFO services.

Visit Our COVID-19 Resource Center

As the world of finances continues evolving due to the pandemic, be sure to check out our COVID-19 Resource Center for updates and resources that may be of assistance to your and your business.  

REMINDER: Revised Personal 2019 Income Tax Filing Due Date and Revised 2020 Q1 and Q2 Estimated Tax Payments Due Dates

Reminder: Your 2019 Federal and Indiana Personal Income Tax returns - originally due on April 15, 2020 - are now due on July 15, 2020. 

In addition, your 2020 Personal Federal and Indiana First and Second Quarter Estimated Tax Payments are also due on July 15, 2020.