- Our Team
December 30, 2019
The TCJA limit on interest expense deductions
Does it affect your business? The Tax Cuts and Jobs Act (TCJA) introduced a variety of tax benefits for businesses. Among other things, it slashed corporate income tax rates, temporarily reduced individual rates and established a new 20% deduction for certain pass-through income. At the same time, the act placed limits on several tax breaks, […]
December 27, 2019
Is Someone Stealing from my Business?
– Reasons to Outsource Accounting – A 2018 survey conducted by the Association of Certified Fraud Examiners found that internal control weaknesses were responsible for nearly half of frauds. Small organizations (less than 100 employees) experienced the greatest percentage of fraud and suffered the largest median loss when compared to larger organizations. This could be due to […]
December 20, 2019
Do you need to file gift tax returns?
Avoid these common mistakes For 2019, the lifetime gift and estate tax exemption has reached a whopping $11.40 million ($22.80 million for married couples). As a result, few people will be subject to federal gift taxes. If your wealth is well within the exemption amount, does that mean there’s no need to file gift tax […]
October 18, 2019
Could Client Accounting Services improve your business?
In a small or growing business, you most likely wear many hats. You’re the leader, you’re the HR department, you could be the entire sales team and you may also be managing the books. A study done by Wasp Barcode stated that the top accounting challenges facing small businesses today are: Accounts Receivable, Cash Flow, […]
February 12, 2019
Hobe & Lucas CPAs Kicks Off 2019 with the Acquisition of Flask, Kusak and Company
CLEVELAND, OH – February 9, 2019 Hobe & Lucas CPAs, a full-service certified public accounting and business consulting firm located in Independence, Ohio has acquired Flask, Kusak and Company, located in Parma, Ohio. The acquisition strengthens Hobe & Lucas’ overall service offerings and provides additional resources to increase its current levels of customer and client […]
October 2, 2018
Prepare for valuation issues in your buy-sell agreement
Every business with more than one owner needs a buy-sell agreement to handle both expected and unexpected ownership changes. When creating or updating yours, be sure you’re prepared for the valuation issues that will come into play. Issues, what issues? Emotions tend to run high when owners face a “triggering event” that activates the buy-sell. […]
August 14, 2018
3 keys to a successful accounting system upgrade
Technology is tricky. Much of today’s software is engineered so well that it will perform adequately for years. But new and better features are being created all the time. And if you’re not getting as much out of your financial data as your competitors are, you could be at a disadvantage. For these reasons, it […]
July 9, 2018
Why our culture makes us a Top Workplace in Northeast Ohio
Last month, we celebrated a momentous achievement in our firm’s history…we were named a 2018 Top Workplace by the Plain Dealer and Advance Ohio…for the first time! This was certainly a great honor for our business, but it’s also a celebration of our culture. We’ve always lived by our founder’s motto of “Full service. Full […]
March 27, 2017
Do you have a plan for your paperwork?
by: Devin Cunningham Every January we all make resolutions for the year ahead. A common goal, both professionally and personally, is to get better organized – and a great first step is to create and maintain an effective record retention policy. The essence of an effective record retention policy is to keep what you need […]
January 4, 2017
IRS Steps in Against Identity Theft
By: Heather R Cunningham Over the past several years, tax-related identify and refund fraud has become much more prevalent. Identity thieves file tax returns using stolen social security numbers and claim false refunds. They often file electronically and early in the year before the IRS is able to verify the information being submitted, and before […]