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Succession planning with Scott Whetstone
Laying the foundation for a successful succession plan
8/20/2019
As I prepare to retire from 415 Group this November, I’ve been reflecting on the succession process. When working in a service business like public accounting, you develop many personal relationships. These relationships, in many instances,...
Includes insights from Scott F. Whetstone
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payroll
Payroll Fraud Schemes Every Business Should Know
8/16/2019
According to the Association of Certified Fraud Examiners, nearly 30 percent of businesses are victims of payroll malfeasance, with small businesses twice as likely to be affected than large businesses. Here are four scary payroll fraud schemes you...
Includes insights from Matt D. Campanale
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Amount you owe
I Owe Tax on That?
8/14/2019
Wages and self-employment earnings are taxable, but what about the random cash or financial benefits you receive through other means? If something of value changes hands, you can bet the IRS considers a way to tax it. Here are five taxable items...
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Image representing Smart Tactics to Manage Student Debt
Smart Tactics to Manage Student Debt
8/14/2019
According to the Federal Reserve, U.S. student loan debt is now $1.5 trillion with more than 44 million borrowers. Only mortgage debt currently has bigger numbers among types of consumer debt. Even worse, more than 10 percent of these loans are past...
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Cash Flow
Cash Flow Concepts That Can Save Your Business
8/14/2019
A sad and oft-repeated truth is that half of all new businesses fail within the first five years. Although many factors contribute to business failure, a common culprit is poor cash management. All businesses, large and small, must deal with the...
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planning
Effective Tax Planning Starts Now
7/19/2019
With summertime activities in full swing, tax planning is probably not on the top of your to-do list. But putting it off creates a problem at the end of the year when there’s little time for changes to take effect. If you take the time to plan...
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Salary
Make Setting Salaries Easier With These 5 Steps
7/19/2019
Whether you are hiring for the first time, filling an open position, or conducting annual performance reviews, finding a salary range that attracts and retains valued employees can be a difficult task. Here are some suggestions to help make the...
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415 Group partners
415 Group Named Top Ohio Workplace
7/15/2019
415 Group, a certified public accounting, business consulting and IT services firm, was named a top Ohio workplace by The Plain Dealer and Ohio Business Magazine. 415 Group ranked 55th on The Plain Dealer’s list of small-sized companies. The...
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415 Group Logo
Why Your Business Should Implement Internal Controls
7/3/2019
Dave Talenda, 415 Group Audit Partner discusses internal controls and the importance of internal controls within your organization.
Includes insights from David J. Talenda
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MSP 501
415 Group Ranked Among World’s Most Elite 501 IT Managed Service Providers
6/24/2019
Canton, Ohio (June 24, 2019) — 415 Group, a certified public accounting, business consulting and IT services firm, announced today that they have been named as one of the world’s premier IT managed service providers on the prestigious...
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Portrait of Chad Isler
415 Group Partner Chad Isler receives Twenty under 40! Award
6/18/2019
415 Group Partner Chad Isler, CPA, MT, received the Twenty under 40! award, an achievement presented by ystark!, a department of the Canton Regional Chamber of Commerce. The award recognizes young professionals who live and work in Stark County...
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audit
Never Take on the IRS Alone
6/6/2019
Sleuthing your way through a tax audit by yourself is not the same as fixing a leaky faucet or changing your oil. Here are reasons you should seek professional help as soon as you receive a letter from the IRS: IRS auditors do this for a living...
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summer tax savings
5 Summer Tax Savings Opportunities
6/6/2019
Ah, summer. The weather is warm, kids are out of school, and it’s time to think about tax saving opportunities! Here are five ways you can enjoy your normal summertime activities and save on taxes: Rent out your property tax-free. If...
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vacation
Watch Out! 7 Vacation Costs That Sneak Up on You
5/29/2019
Going on vacation is a time to get away, relax and enjoy new experiences. But if you don’t pay close attention, extra costs can sneak up on you like tiny money-stealing ninjas. Here are seven sneaky vacation costs to watch out for: Covert...
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planning
You Know You Need Tax Planning If...
5/22/2019
Effective tax planning helps you make smart decisions now to get the future outcome you desire — but you need to make sure you don’t miss anything. Forget to account for one of these situations and your tax plans will go off the rails in...
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Business books
4 Key Elements of Great Business Books
5/22/2019
Your bookkeeping system is the financial heart and lifeblood of your business. When set up and operating properly, your books help you make smart decisions and seamlessly turn your financial data into useful information. Here are four key...
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Insurance tips
Don't Leave Your Business Exposed
5/22/2019
Have you conducted a business insurance review lately? Changes in your business equipment, real estate holdings, the amount of inventory, and the number of employees are all good reasons to review your insurance. Here are a few policy review tips to...
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cash
Every Business Needs Cash
3/25/2019
Focusing solely on sales and profits can create a surprise for any business when there is not enough cash to pay the bills. Here are five key principals to improve your cash management. Create a cash flow statement and analyze it...
Includes insights from Chad R. Isler
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checklist
7 Common Missing Tax Return Items
3/18/2019
Want your tax return filed quickly and without error? Then double-check this list of items that are often overlooked. These missing items often cause delays in getting your tax return filed: Forms W-2 and 1099. Using last year's tax return...
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Bill
Oh No! Your Tax Refund is Now a Bill
3/18/2019
If you are anticipating a nice refund this year, it may be a good idea to prepare yourself for a possible letdown. Many taxpayers will receive a smaller-than-expected refund and might even owe taxes to be paid by April 15. If this happens to you,...
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QuickBooks Online; woman typing on a computer keyboard
QuickBooks Online: Five time-saving tips for your business
3/5/2019
A powerful tool for your business, QuickBooks Online (QBO) software makes collaboration with your accounting team seamless. Learning the ins and outs can save you time and boost your productivity. Use these five time-saving tips to transform your...
Includes insights from Barbara D. Hupp
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scam
Tips to Protect Yourself From Tax Scams
2/20/2019
Too many people downplay the threat of identity theft because it hasn't been witnessed or experienced firsthand. This false sense of security can leave you exposed, especially during tax season. Here are some tips to keep your identity safe from...
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benefits
7 Tax-Free Ideas to Bolster Your Business Benefits Package
2/20/2019
The benefits package offered by your business is extremely important to your employees. How important? A survey performed by the Society of Human Resource Management (SHRM) found that benefits are directly tied to overall job satisfaction for 92...
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balance sheet
Financial statements tell your business’s story, inside and out
2/18/2019
Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop and show you their bookkeeping software. Although tracking financial transactions is critical, spreadsheets aren’t...
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refund
Why you shouldn’t wait to file your 2018 income tax return
2/18/2019
The IRS opened the 2018 income tax return filing season on January 28. Even if you typically don’t file until much closer to the April 15 deadline, this year consider filing as soon as you can. Why? You can potentially protect yourself from...
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3 changes
3 big TCJA changes affecting 2018 individual tax returns and beyond
2/18/2019
When you file your 2018 income tax return, you’ll likely find that some big tax law changes affect you — besides the much-discussed tax rate cuts and reduced itemized deductions. For 2018 through 2025, the Tax Cuts and Jobs Act (TCJA)...
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insurance
Best practices when filing a business interruption claim
2/18/2019
Many companies, especially those that operate in areas prone to natural disasters, should consider business interruption insurance. Unlike a commercial property policy, which may cover certain repairs of damaged property, this coverage generally...
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SWOT
Refine your strategic plan with SWOT
1/31/2019
With the year underway, your business probably has a strategic plan in place for the months ahead. Or maybe you’ve created a general outline but haven’t quite put the finishing touches on it yet. In either case, there’s a...
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business
Depreciation-related breaks on business real estate: What you need to know when you file your 2018 return
1/30/2019
Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every year over the depreciation period. (Land isn’t depreciable.) But special tax breaks that allow...
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donations
There’s still time to get substantiation for 2018 donations
1/22/2019
If you’re like many Americans, letters from your favorite charities have been appearing in your mailbox in recent weeks acknowledging your 2018 year-end donations. But what happens if you haven’t received such a letter — can you...
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money
It's Your Money. Get it Back Now!
1/21/2019
According to Credit Karma, over $40 BILLION of unclaimed property is currently being held by state governments. That's a staggering amount of money — enough to buy half of the National Football League franchises. Not included in that figure is...
Includes insights from Kathleen S. Krohn
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Building
Getting wise to the rise of “smart” buildings
1/16/2019
Nowadays, data drives everything — including the very buildings in which companies operate. If your business is considering upgrading its current facility, or moving to or constructing a new one, it’s important to be aware of...
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Question
What will your marginal income tax rate be?
1/15/2019
While the Tax Cuts and Jobs Act (TCJA) generally reduced individual tax rates for 2018 through 2025, some taxpayers could see their taxes go up due to reductions or eliminations of certain tax breaks — and, in some cases, due to their filing...
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Outsourcing
4 business functions you could outsource right now
1/9/2019
One thing in plentiful supply in today’s business world is help. Orbiting every industry are providers, consultancies and independent contractors offering a wide array of support services. Simply put, it’s never been easier to outsource...
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medical
2 major tax law changes for individuals in 2019
1/8/2019
While most provisions of the Tax Cuts and Jobs Act (TCJA) went into effect in 2018 and either apply through 2025 or are permanent, there are two major changes under the act for 2019. Here’s a closer look. 1. Medical expense deduction...
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Alexa
Hey Alexa. Are you Making Me Dumb?
1/2/2019
3 concerns to consider while living with a smart speaker   Smart speakers like the Amazon Echo and Google Home are popping up everywhere. According to a Nielsen study from last September, nearly one of every four U.S. households has a smart...
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Financially Savvy
How to Raise a Financially Savvy Child
1/2/2019
If you have children (or grandchildren) you have an opportunity to give them a jump-start on their journey to becoming financially responsible adults. While teaching your child about money and finances is easier when you start early, it's never too...
Includes insights from Raymond A. Maynard
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Home Office
Taking a Home Office Deduction
1/2/2019
A great tax reduction idea, if done right!   Cloud-based applications, extensive communication channels, and other new technologies make it easier to run your business out of your home. If you qualify, many home business expenses are...
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TCJA
A refresher on major tax law changes for small-business owners
1/2/2019
The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce 2018 taxes. Business owners may, therefore, want to shift their focus to assessing whether...
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Economics
Economic damages: Recovering what was lost
1/2/2019
A business can suffer economic damages arising from a variety of illegal conduct. Common examples include breach of contract, patent infringement and commercial negligence. If your company finds itself headed to court looking to recover lost...
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Technology
Getting ahead of the curve on emerging technologies
12/28/2018
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...
Includes insights from Mark T. Manwaring
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Savings
You may be able to save more for retirement in 2019
12/26/2018
Retirement plan contribution limits are indexed for inflation, and many have gone up for 2019, giving you opportunities to increase your retirement savings: Elective deferrals to 401(k), 403(b), 457(b)(2) and 457(c)(1) plans: $19,000 (up from...
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Right Price
Make sure the price is right with market research
12/26/2018
The promise of the new year lies ahead. One way to help ensure it’s a profitable one is to re-evaluate your company’s pricing strategy. You need to devise an approach that considers more than just what it cost you to produce a product or...
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Internal Leadership
Devote some time to internal leadership development
12/20/2018
Many factors go into the success of a company. You’ve got to offer high-quality products or services, provide outstanding customer service, and manage your inventory or supply chain. But there’s at least one other success factor that...
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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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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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