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News

415 Group Promotions
415 Group names Chad Isler partner
12/13/2018
The firm strengthens its team with several promotions, new hires 415 Group, a certified public accounting and business consulting firm, today named Chad Isler partner. Isler joins the firm’s ten other partners in managing client accounts and...
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Technology
Getting ahead of the curve on emerging technologies
12/12/2018
Turn on your computer or mobile device, scroll through Facebook or Twitter, or skim a business-oriented website, and you’ll likely come across the term “emerging technologies.” It has become so ubiquitous that you might be tempted...
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Succession
Family businesses need succession plans, too
12/11/2018
Those who run family-owned businesses often underestimate the need for a succession plan. After all, they say, we’re a family business — there will always be a family member here to keep the company going and no one will stand in the...
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Calendar
2019 Q1 tax calendar: Key deadlines for businesses and other employers
12/11/2018
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to...
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Image representing Year-end tax and financial to-do list for individuals
Year-end tax and financial to-do list for individuals
12/11/2018
With the dawn of 2019 on the near horizon, here’s a quick list of tax and financial to-dos you should address before 2018 ends: Check your FSA balance. If you have a Flexible Spending Account (FSA) for health care expenses, you need to incur...
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Clock
6 Last-Second Money-Saving Tax Moves
12/11/2018
As 2018 winds down, there is still time to reduce your potential tax obligation. Here are some ideas to make your 2018 tax return less of a burden on your wallet: Accelerate expenses. Individual taxpayers are on the cash basis...
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QBI
The New Business Deduction
12/11/2018
Stop worrying and start preparingA new deduction is available to businesses with qualified business income (QBI). While that's great news, new deductions (especially ones with lots of rules) can bring anxiety and confusion. Never fear! Ensuring you...
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deduction
Five Tax Breaks for New Parents
12/5/2018
New parents have their work cut out for them. Not only are they dealing with lost sleep, they also face the extra cost of raising a child. At least there are a lot of potential tax breaks available to them. Check out this list and share it with any...
Includes insights from Evan R. Hudson
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415 Group to Match Donations for Akron-Canton Foodbank
415 Group to Match Donations for Akron-Canton Regional Foodbank Drive
12/4/2018
415 Group will match donations, dollar-for-dollar, made to the Akron-Canton Regional Foodbank for this year’s Long Haul Against Hunger Campaign. Monetary donations and non-perishable food items will be accepted on Friday, Dec. 7 from...
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2018 budget
Estimates vs. actuals: Was your 2018 budget reasonable?
11/27/2018
As the year winds down, business owners can be thankful for the gift of perspective (among other things, we hope). Assuming you created a budget for the calendar year, you should now be able to accurately assess that budget by comparing its...
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contribution
Catch-up retirement plan contributions can be particularly advantageous post-TCJA
11/20/2018
Will you be age 50 or older on December 31? Are you still working? Are you already contributing to your 401(k) plan or Savings Incentive Match Plan for Employees (SIMPLE) up to the regular annual limit? Then you may want to make...
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mutual funds
Mutual funds: Handle with care at year end
11/13/2018
As we approach the end of 2018, it’s a good idea to review the mutual fund holdings in your taxable accounts and take steps to avoid potential tax traps. Here are some tips. Avoid surprise capital gains Unlike with stocks, you can’t...
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cloud
Taking the hybrid approach to cloud computing
11/13/2018
For several years now, cloud computing has been touted as the perfect way for companies large and small to meet their software and data storage needs. But, when it comes to choosing and deploying a solution, one size doesn’t fit all. Many...
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2018
Buy business assets before year end to reduce your 2018 tax liability
11/13/2018
The Tax Cuts and Jobs Act (TCJA) has enhanced two depreciation-related breaks that are popular year-end tax planning tools for businesses. To take advantage of these breaks, you must purchase qualifying assets and place them in service by the end of...
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medical
Could “bunching” medical expenses into 2018 save you tax?
10/30/2018
Some of your medical expenses may be tax deductible, but only if you itemize deductions and have enough expenses to exceed the applicable floor for deductibility. With proper planning, you may be able to time controllable medical expenses to your...
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stock
Donate appreciated stock for twice the tax benefits
10/30/2018
A tried-and-true year end tax strategy is to make charitable donations. As long as you itemize and your gift qualifies, you can claim a charitable deduction. But did you know that you can enjoy an additional tax benefit if you donate long-term...
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IRS rollovers
Qualified charitable distributions from your IRA have become more beneficial
10/29/2018
If you’re age 70½ or older, you can make direct contributions — up to $100,000 annually — from your IRA to qualified charitable organizations without owing any income tax on the distributions. This break may be especially...
Includes insights from Ron E. Butler
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gift
Consider all the tax consequences before making gifts to loved ones
10/19/2018
Many people choose to pass assets to the next generation during life, whether to reduce the size of their taxable estate, to help out family members or simply to see their loved ones enjoy the gifts. If you’re considering lifetime gifts, be...
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ABC
Following the ABCs of customer assessment
10/19/2018
When a business is launched, its owners typically welcome every customer through the door with a sigh of relief. But after the company has established itself, those same owners might start looking at their buying constituency a little more...
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workaround
IRS Issues Proposed Guidance on Controversial SALT Limitation
10/19/2018
In recent weeks, the IRS has issued a series of proposed regulations to help clarify provisions of the Tax Cuts and Jobs Act (TCJA). One of the most controversial parts of the law is the limit on individuals' deductions for state and local...
Includes insights from Carol J. Polatas
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pillars
4 pillars of a solid sales process
10/11/2018
Is your sales process getting off-balance? Sometimes it can be hard to tell. Fluctuations in the economy, changes in customer interest and dips in demand may cause slowdowns that are beyond your control. But if the numbers keep dropping and...
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business plan
Dig out your business plan to prepare for the year ahead
9/26/2018
Like many business owners, you probably created a business plan when you launched your company. But, as is also often the case, you may not have looked at it much since then. Now that fall has arrived and year end is coming soon, why not dig it out?...
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couple
Tax planning for investments gets more complicated
9/25/2018
For investors, fall is a good time to review year-to-date gains and losses. Not only can it help you assess your financial health, but it also can help you determine whether to buy or sell investments before year end to save taxes. This year, you...
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Image representing Blockchain may soon drive business worldwide
Blockchain may soon drive business worldwide
9/24/2018
“Blockchain” may sound like something that goes on a vehicle’s tires in icy weather or that perhaps is part of that vehicle’s engine. Indeed it is a type of technology that may help drive business worldwide at some point soon...
Includes insights from Phillip D. Hann
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cash
Keeping a king in the castle with a well-maintained cash reserve
9/19/2018
You’ve no doubt heard the old business cliché “cash is king.” And it’s true: A company in a strong cash position stands a much better chance of obtaining the financing it needs, attracting outside investors or simply...
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artwork
The tax deduction ins and outs of donating artwork to charity
9/19/2018
If you’re charitably inclined and you collect art, appreciated artwork can make one of the best charitable gifts from a tax perspective. In general, donating appreciated property is doubly beneficial because you can both enjoy a valuable tax...
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expansion
Are you ready to expand to a second location?
9/12/2018
Most business owners want to grow their companies. And one surefire sign of growth is when ownership believes the company can expand its operations to a second location. If your business has reached this point, or is nearing it, both...
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moving boxes
Movin' On: Keep Employees Well Informed
9/11/2018
Moving a business is widely considered one of life's most stressful events for owners and employees.There's packing and unpacking while your staff carries on with business as usual while your staff carries on with business as usual — the...
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partnership
Tax Law Changes Affecting Partnerships, LLCs and Their Owners
9/11/2018
The Tax Cuts and Jobs Act (TCJA) brought many modifications to the tax laws that affect partnerships, limited liability companies (LLCs), and their owners. Here's a look at the key changes. Technical Termination Rule Repealed Under prior law,...
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audit
Medical Profession is a Top IRS Target
9/11/2018
The IRS has a massive effort, launched in coordination with the U.S. Department of Justice, to identify and prosecute tax evaders from the medical profession.   Watch Out for Sham Trusts The IRS is warning physicians not to get...
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Writing
2018 Q4 tax calendar: Key deadlines for businesses and other employers
9/11/2018
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to...
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valuation
Prepare for valuation issues in your buy-sell agreement
9/5/2018
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,...
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estimated payment
Do you need to make an estimated tax payment by September 17?
9/4/2018
To avoid interest and penalties, you must make sufficient federal income tax payments long before your April filing deadline through withholding, estimated tax payments, or a combination of the two. The third 2018 estimated tax payment deadline for...
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planning
Many Taxpayers Will Pay No Tax on Long-Term Gains and Dividends
9/4/2018
Do you have long-term capital gains or qualified dividends? If so, there's good news: After the Tax Cuts and Jobs Act (TCJA), you might still qualify for the 0% federal income tax rate on these types of income. The rate is only available for...
Includes insights from Brian E. Raber
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school
Back-to-school time means a tax break for teachers
8/29/2018
When teachers are setting up their classrooms for the new school year, it’s common for them to pay for a portion of their classroom supplies out of pocket. A special tax break allows these educators to deduct some of their expenses. This...
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HSA
HSA + HDHP can be a winning health benefits formula
8/29/2018
If you’ve done any research into employee benefits for your business recently, you may have come across a bit of alphabet soup in the form of “HSA + HDHP.” Although perhaps initially confusing, this formula represents an...
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cellphone
What's Next for State Tax Nexus?
8/24/2018
The recent Wayfair decision has drastically altered the landscape for states that want to collect sales and use taxes. Prior to this landmark U.S. Supreme Court case, economic "nexus" for tax purposes was established only if the...
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tax break
QBI Deduction Provides Tax Break to Pass-Through Entity Owners
8/24/2018
The IRS recently issued proposed reliance regulations to help clarify the new qualified business income (QBI) deduction that was introduced as part of the Tax Cuts and Jobs Act. This guidance is complex and hundreds of pages...
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balance
Incentive Compensation: How to Strike a Proper Balance
8/24/2018
High profile financial scandals in today's business world pop up in the media regularly. Often at the root of such scandals are incentive compensation systems that went awry. The problem might be with the program's initial design or a loophole...
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attitude
Stamp Out Bad Attitudes and Boost Profits
8/24/2018
A good attitude can work wonders at any organization. A cheerful receptionist, a friendly delivery person or a sales clerk with a winning smile can be money in the bank for your business. By the same token, a bad attitude on the part of...
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Family
IRS Encourages Taxpayers to Check Withholding
8/24/2018
Are you having enough money withheld from your regular paychecks? The Tax Cuts and Jobs Act (TCJA) has made several significant changes to the tax rules for individuals for 2018 through 2025. As a result, many taxpayers who previously itemized...
Includes insights from Holly L. Lieser
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school
Business tips for back-to-school time
8/22/2018
Late summer and early fall, when so many families have members returning to educational facilities of all shapes and sizes, is also a good time for businesses to creatively step up their business development efforts, whether it’s launching new...
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Gambling
Play your tax cards right with gambling wins and losses
8/21/2018
If you gamble, be sure you understand the tax consequences. Both wins and losses can affect your income tax bill. And changes under the Tax Cuts and Jobs Act (TCJA) could also have an impact. Wins and taxable income You must report 100% of your...
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IT consultant
6 ways to get more value from an IT consultant
8/15/2018
IT consultants are many things — experts in their field, champions of the workaround and, generally, the “people persons” of the tech field. But they’re not magicians who, with the wave of a smartphone, can solve any dilemma...
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Change
Choosing the right accounting method for tax purposes
8/15/2018
The Tax Cuts and Jobs Act (TCJA) liberalized the eligibility rules for using the cash method of accounting, making this method — which is simpler than the accrual method — available to more businesses. Now the IRS has provided procedures...
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SEP
Squeeze More Out of a Company SEP
8/10/2018
If you want a retirement plan for your small company or self-employed business -- but you don't want to be buried in paperwork -- consider a simplified employee pension plan or SEP. Among the appealing advantages: 1. SEPs are...
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highlighter
Looking for a Business Loan? Be Prepared
8/10/2018
If you're building up a small business but haven't yet needed to borrow funds to expand or smooth out cash flow irregularities, you're doing something right. Or if you have borrowed and everything went smoothly, kudos again. Otherwise, keep in...
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team
Hiring a Doctor ... A Few Points to Consider
8/10/2018
Since physicians are the revenue producers of a busy medical practice, there can be a temptation to add doctors to ease patient loads and increase the bottom line. But while bringing on more practitioners can reduce workloads and create...
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conversion
The TCJA prohibits undoing 2018 Roth IRA conversions, but 2017 conversions are still eligible
8/10/2018
Converting a traditional IRA to a Roth IRA can provide tax-free growth and tax-free withdrawals in retirement. But what if you convert your traditional IRA — subject to income taxes on all earnings and deductible contributions — and then...
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compensation
Contemplating compensation increases and pay for performance
8/10/2018
As a business grows, one of many challenges it faces is identifying a competitive yet manageable compensation structure. After all, offer too little and you likely won’t have much success in hiring. Offer too much and you may compromise cash...
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