News

by: Brian Davis, CPA Recently, the U.S. Department of Labor has increased its efforts to monitor employee plans, resulting in an audit process that is increasingly complex and lengthy. Organizations are under intense scrutiny as more regulations and reporting requirements must be stringently followed for employee benefit plan audits. Are you sure you need one? […]

A client called the other day and told me she was planning to get married. “Congratulations!” I said. “Yes, thank you” was her reply, “but I need to know which will be better for our taxes – if we have the wedding this year or next.” How romantic, right? But the decision to push the […]

by: Yvonne Chmielewski If you are a business owner, you have payroll taxes. As the Internal Revenue Service has intensified its payroll tax compliance program focusing on small businesses, it is not wise to take this responsibility lightly. What taxes should you pay? Every employer must account for federal income tax, federal and state unemployment […]

Wondering what all the buzz is about regarding the “Cadillac Tax”? Will the Cadillac Tax affect you? We break it down for you right here: What is the Cadillac Tax? The Cadillac Tax will be levied on employers who offer high-cost health benefits to their employees. The main purpose behind the Cadillac Tax is to […]

by: Lawrence A. DeBaltzo, CPA, CGMA, CVA As a business owner, your time is spent trying to build up your business, keep your customers happy, fend off competitors, and pay your employees. You know you’re adding value to your organization by making these investments, but do you have any idea how much? Do you ever […]

The federal government granted a reprieve in 2015 for certain-sized employers from many of the mandates of the Affordable Care Act (ACA). It didn’t, however, free them from others. Given the potentially confusing nature of these changes, we sat down with John Foster, CPA to talk through the key regulator changes to the ACA, and […]

by: Louis Loparo, CPA, CITP We all know that communication is difficult when you don’t understand the language. When it comes to technology and accounting, business owners face a similar problem.  There is a gap between the services provided by their IT company and the services provided by their CPA. As running a business (and […]

by: Kevin Stedman, Sr. Tax Manager As a business owner, paying sales or use tax has most likely become second nature as a cost of doing business.  In recent years, states looking for additional revenue sources have adopted changes that have expanded the tax base and increased the tax rate overall. As an example, Ohio […]

The Ohio Bureau of Workers’ Compensation is making changes to how they bill private and public employers.  The BWC will be transitioning to a new prospective billing system beginning July 1, 2015 for private employers and January 1, 2016 for public employer taxing districts. The following is a review of the changes that are going […]

It’s not time to put your dollar bills into memory capsules yet, but the use of convertible virtual currencies — including the Bitcoin — appears to be on the upswing. In addition to announcements that Bitcoins will be accepted by some high-profile companies, such as Overstock.com, Microsoft, and PayPal, 80,000 other firms have reportedly jumped […]