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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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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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