Tag Archives: Akron CPA

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

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

ONCE AGAIN OHIO WILL HAVE A SALES TAX HOLIDAY IN AUGUST 2016

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 … Continue reading

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

New Overtime Rules Issued: What it Means for You

A change in the rules governing overtime has been coming for two years, with a sneak preview of proposed modifications last year. But on May 18, the Department of Labor (DOL) came out with its new final rules, which take … Continue reading

Posted in Akron Accounting Firm, Akron Certified Public Accountants, Business, Business Owners, Department of Labor, DOL, Fair Labor Standards Act, Payroll, Uncategorized | Tagged , , , , , , , , , , , , , , , , , , , , | Leave a comment

A New Lease on…Leases?

Here’s What Happened On February 25, 2016 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842).  An SEC finding in 2005 led to a joint effort between FASB and the International Accounting Standards … Continue reading

Posted in Accounting, Akron Accounting Firm, Akron Certified Public Accountants, Business, Business Owners, FASB, Uncategorized | Tagged , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Why an Estimated Tax Checkup may be in Order

It’s not a major disaster if you owed some money when you filed your 2015 return-after all, you’d rather have the use of the funds for as long as possible. A scenario you want to avoid is having to pay a … Continue reading

Posted in Business Owners, Internal Revenue Service, Tax Planning, Taxation | Tagged , , , , , , , , | Leave a comment

Last Minute Change for New Forms Affecting 2015 Form 1040 Taxpayers

During the first quarter of 2016, you may receive one or more of the new health care coverage information forms to help you prepare your 2015 Form 1040.  The new forms are: Form 1095-A – Only individuals who enrolled in 2015 coverage through … Continue reading

Posted in Affordable Care Act, Akron Accounting Firm, Akron Certified Public Accountants, Akron Ohio Community, Business, Business Owners, Business Professional, Corporate Taxation, Internal Revenue Service, Tax Compliance, Taxation | Tagged , , , , , , , , , , , , , | Leave a comment

IRS Raises Tangible Property Expensing Threshold

Many businesses are uncertain how to account for costs to acquire, produce or improve property, plant and equipment. So, in 2013 the IRS issued regulations on capitalizing versus deducting the costs of tangible personal property. In 2014, the IRS added … Continue reading

Posted in Accounting, Akron Accounting Firm, Akron Certified Public Accountants, Business, Business Owners, Business Tax Planning, Corporate Taxation, Internal Revenue Service, QuickBooks, Tax Compliance, Tax Planning, Taxation | Tagged , , , , , , , , , , , , , , | Leave a comment