Category Archives: Business Owners

The 401(k) Plan Roth Option – Right for You?

Does your employer’s 401(k) plan allow Roth deferrals?  If so, you may be wondering if that’s a good choice for you.  In fact, you may have been wondering about this for a few years now!  Even though the Roth 401(k) … Continue reading

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Tips to Know for Deducting Losses from a Disaster

The IRS wants taxpayers to know it stands ready to help in the event of a disaster. If a taxpayer suffers damage to their home or personal property, they may be able to deduct the loss they incur on their federal income … Continue reading

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Managing Risk with Internal Controls

Fraud happens and it’s not just affecting large corporations.  Small to medium size business are also at risk due to internal control deficiencies and minimal enforcement of policies in place.  According to the 2016 Association of Certified Fraud Examiners (ACFE) … Continue reading

Posted in Accounting, Akron Accounting Firm, Akron Certified Public Accountants, Business, Business Owners, Business Professional, Business Technology, Corporate Taxation, Fraud, Internal Controls, Small Business Accounting | Tagged , , , , , , , , , , , , , , , | Leave a comment

Businesses Subject to the Partnership Tax Rules Need to Review Their Operating Agreements in Light of Changes Right Around the Corner

The Bipartisan Budget Act of 2015 is making major changes to the examination and collection processes the IRS uses in its administration of the tax regime that governs businesses that are taxed as partnerships, such as limited liability companies that … Continue reading

Posted in Accounting, Akron Accounting Firm, Akron Certified Public Accountants, Business, Business Owners, Business Tax Planning, Corporate Taxation, Internal Revenue Service, Operating Agreements, Partnership Tax Rules, Partnership Taxation, Small Business Accounting, Tax Planning, Taxes, Uncategorized | Tagged , , , , , , , , , , , , , , , , , , , , , | 1 Comment

ONCE AGAIN OHIO WILL HAVE A SALES TAX HOLIDAY IN AUGUST 2017

Good News for Ohio Consumers – Once again S.B. 264 has enacted a one-time sales tax holiday to occur in 2016.  The holiday starts on Friday, August 5, 2016 at 12:01 a.m. and ends on Sunday, August 7, 2016 at 11:59 p.m. During the holiday, the following items are exempt from sales and use tax: […]

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Posted in Akron Accounting Firm, Akron Certified Public Accountants, Akron Ohio Community, Business, Business Owners, Corporate Taxation, Ohio Business Taxation, Ohio Department of Taxation, Sales and Use Tax, State and Local Tax, Tax Compliance, Taxation, Uncategorized | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Why Small Business Owners Should Consider Outsourcing Their Accounting and Tax Functions

Have you ever wondered why some of the most successful entrepreneurs and business leaders wear the same outfit each day? It is said that Albert Einstein bought multiple versions of the same gray suit to limit the number of decisions … Continue reading

Posted in Accounting, Akron Accounting Firm, Akron Certified Public Accountants, Business, Business Owners, Business Professional, Business Tax Planning, Corporate Taxation, Non-Profit, Not-for-profit, Outsourced Accounting Services, QuickBooks, Small Business Accounting, Tax Compliance, Tax Planning, Taxation, Taxes | Tagged , , , , , , , , , , , , , , , | Leave a comment

Stop, Look and Think Before You Expand

The driving force in many expansion plans is to generate higher sales, with the hope that profits will rise. But before making moves to buy new equipment, expand your plant or implement a new business idea, you need to grasp the … Continue reading

Posted in Akron Accounting Firm, Akron Certified Public Accountants, Business, Business Owners, Business Tax Planning, Expansion Plan Analysis, Expansion Plans, Tax Planning | Tagged , , , , , , , , , , , , | Leave a comment