Run the numbers before you extend customer credit
Funny thing about customers: They can keep you in business — but they can also put you out of it. The latter circumstance often arises when a company overly relies on a few customers that abuse their credit to the point where the...READ MORE >
2018 Q3 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the third 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...READ MORE >
Plain Dealer Once Again Names 415 Group a Top Workplace
Canton, Ohio — 415 Group, a leading certified public accounting, business consulting and IT services firm in Northern Ohio was selected as one of The Plain Dealer’s Top Workplaces for 2018. This award, according to The Plain...READ MORE >
The Importance of Medical Practice Policy Manuals
Over time, doctors develop their own unique style of practicing medicine. The same is true of medical groups. They develop a style that involves creating a work culture and passing information about it on to staff members. A medical practice's...READ MORE >
Six Keys to Successful Change in the Workplace
Employees generally hate change. Whether it's a merger or restructuring, or a simple change in the color of the office, studies show both staff members and managers resist. The reactions may seem irrational but change can suggest an invasion...READ MORE >
Will States Conform to the New Tax Rules?
Many state legislatures are now in session. A major issue that state lawmakers may currently face is whether to conform their state income tax systems to all the changes included in the Tax Cuts and Jobs Act (TCJA). Some states are considering...READ MORE >
Watch Out for these Tax Issues When Planning for Your Business in 2018
The Tax Cuts and Jobs Act makes sweeping changes. But some of the new provisions won't necessarily be relevant to your situation. Here's a quick reference guide to the major changes under the new law to help you understand what's changing. In...READ MORE >
The tax impact of the TCJA on estate planning
The massive changes the Tax Cuts and Jobs Act (TCJA) made to income taxes have garnered the most attention. But the new law also made major changes to gift and estate taxes. While the TCJA didn’t repeal these taxes, it did significantly reduce...READ MORE >
A midyear review should go beyond financials
Every year is a journey for a business. You begin with a set of objectives for the months ahead, probably encounter a few bumps along the way and, hopefully, reach your destination with some success and a few lessons learned. The middle of the year...READ MORE >
Could a long-term deal ease your succession planning woes?
Some business owners — particularly those who founded their companies — may find it hard to give up control to a successor. Maybe you just can’t identify the right person internally to fill your shoes. While retirement isn’t...READ MORE >
Factor in state and local taxes when deciding where to live in retirement
Many Americans relocate to another state when they retire. If you’re thinking about such a move, state and local taxes should factor into your decision. Income, property and sales tax Choosing a state that has no personal income tax may...READ MORE >
Does Your Buy-Sell Agreement Need Updating?
If you own a business and follow professional advice, you've likely established a buy-sell agreement in case you or a co-owner voluntarily or involuntarily leaves the company. Assuming this is true, remember that it's not enough to draft an...READ MORE >
You May Want to Separate Real Estate Assets from Your Business
Many companies choose not to combine real estate and other assets into a single entity. Perhaps the business fears liability for injuries suffered on the property. Or legal liabilities encountered by the company could affect property...READ MORE >
Supreme Court Spotlights Employee Status: Exempt or Not?
Thousands of cases are appealed to the U.S. Supreme Court every year, but usually fewer than 100 get a full-blown hearing and ruling. One case that made it through in the current court term is Encino Motorcars v. Navarro. On the surface,...READ MORE >
6 Cool Ways to Save Taxes during the Hot Summer Months
The Tax Cuts and Jobs Act (TCJA) may have put a crimp in some of your summer plans by eliminating or scaling back certain tax breaks. But individuals and small business owners still have plenty of opportunities to save taxes. Here are six ideas...READ MORE >
Bookings vs. shippings: A sales flash report primer
Do bad sales months often take you by surprise? If so, don’t forget the power of flash reports — that is, snapshots of critical data for quick, timely viewing every day or week. One specific way to use them is to track bookings vs....READ MORE >
Saving tax on restricted stock awards with the Sec. 83(b) election
Today many employees receive stock-based compensation from their employer as part of their compensation and benefits package. The tax consequences of such compensation can be complex — subject to ordinary-income, capital gains, employment and...READ MORE >
Ask the right questions about your IT strategy
Most businesses approach technology as an evolving challenge. You don’t want to overspend on bells and whistles you’ll never fully use, but you also don’t want to get left behind as competitors use the latest tech tools to operate...READ MORE >
The TCJA changes some rules for deducting pass-through business losses
It’s not uncommon for businesses to sometimes generate tax losses. But the losses that can be deducted are limited by tax law in some situations. The Tax Cuts and Jobs Act (TCJA) further restricts the amount of losses that sole proprietors,...READ MORE >
Cost-Cutting Checklist for Your Medical Office
When was the last time you took a careful look at your office overhead costs and compared them to the same period last year? Expenses can creep up fast if nobody is monitoring them. Generally speaking, the cost of running a medical office...READ MORE >
An Easier Way to Screen Applicant Resumes
Screening job applicants is a cumbersome process but you can save time and money by making your company's website an integral part of your recruiting strategy. How? Design an online career center and applicant screening program. You can hire a...READ MORE >
New Study Reveals Costs, Means and Ways to Stop Fraud
Would you leave the front door unlocked to your business or not-for-profit organization? Of course not. That would give thieves easy access to your assets. Yet a surprising number of organizations don't have strong antifraud controls in place...READ MORE >
Should Your Business Be a C Corporation or a Pass-Through Entity?
The Tax Cuts and Jobs Act (TCJA) introduced a flat 21% federal income tax rate for C corporations for tax years beginning in 2018 and beyond. Under prior law, profitable C corporations paid up to 35%. This change has caused many business owners...READ MORE >
4 ways to encourage innovation in customer service
When business people speak of innovation, the focus is usually on a pioneering product or state-of-the-art service that will “revolutionize the industry.” But innovation can apply to any aspect of your company — including customer...READ MORE >
Be aware of the tax consequences before selling your home
In many parts of the country, summer is peak season for selling a home. If you’re planning to put your home on the market soon, you’re probably thinking about things like how quickly it will sell and how much you’ll get for it. But...READ MORE >
Do you need to adjust your withholding?
If you received a large refund after filing your 2017 income tax return, you’re probably enjoying the influx of cash. But a large refund isn’t all positive. It also means you were essentially giving the government an interest-free...
Includes insights from Kristine R. GiannettiREAD MORE >
How Much Does the IRS Let Delinquent Taxpayers Live On?
The IRS uses "Collection Financial Standards" to help determine a taxpayer's ability to pay a delinquent tax liability. Allowable living expenses include those that meet the test of being necessary to provide for a taxpayer's (and his...READ MORE >
Firing an Employee? Consider a Separation Agreement
Having an employee sign a separation agreement upon ending the employment relationship amounts to a form of insurance that he or she will not later take legal action against your company, based on the termination. Whether a separation was...READ MORE >
Timing and Taxes: Two Critical Issues when Buying or Selling a Home
You might be in a rush to buy or sell a home before summer starts or interest rates increase even more. But, first, it's important to review the tax rules related to home sales and deductions for mortgage interest, property taxes and...
Includes insights from Natalie M. SimmonsREAD MORE >
Take Advantage of Expanded Tax Breaks for Business Vehicles
The Tax Cuts and Jobs Act (TCJA) expands the first-year depreciation deductions for vehicles used more than 50% for business purposes. Here's what small business owners need to know to take advantage. Bad News for Employees with...READ MORE >
Get started on 2018 tax planning now
With the April 17 individual income tax filing deadline behind you (or with your 2017 tax return on the back burner if you filed for an extension), you may be hoping to not think about taxes for the next several months. But for maximum tax savings,...
Includes insights from Todd J. RugglesREAD MORE >
Manage health benefits costs with a multipronged approach
Many companies offer health care benefits to help ensure employee wellness and compete for better job candidates. And the Affordable Care Act has been using both carrots and sticks (depending on employer size) to encourage businesses to offer health...READ MORE >
Tax document retention guidelines for small businesses
You may have breathed a sigh of relief after filing your 2017 income tax return (or requesting an extension). But if your office is strewn with reams of paper consisting of years’ worth of tax returns, receipts, canceled checks and other...READ MORE >
Deducting Pass-Through Business Losses
Many business ventures generate tax losses, especially in the first few years of operation or under adverse conditions. When can losses be deducted — and how much can you deduct in any given year? This article explains new limitations on...
Includes insights from Christina M. SchatzREAD MORE >
Mandatory E-Verify May Be Coming, Are You Ready?
E-Verify is about to play a critical role under the Trump administration. The electronic service, launched in 1996, is primarily a voluntary web-based system, though it could soon become mandatory. E-Verify enables employers to quickly...READ MORE >
Save or Shred? Follow These Recordkeeping Guidelines
Are you a recordkeeping pack rat? Many individuals and businesses hold onto paper and digital records indefinitely — just in case. But securely storing years of financial records can become burdensome. Here's some guidance to help...READ MORE >
Taking it to the streets: 7 marketing strategies to consider
With such intense focus on digital marketing these days, business owners can overlook the fact that there are actual, physical places to interact with the buying public. Now that spring is here and summer is on the way, it’s a good time to...READ MORE >
Individual tax calendar: Important deadlines for the remainder of 2018
While April 15 (April 17 this year) is the main tax deadline on most individual taxpayers’ minds, there are others through the rest of the year that you also need to be aware of. To help you make sure you don’t miss any important 2018...READ MORE >
Haven’t filed your 2017 income tax return yet? Beware of these pitfalls
The federal income tax filing deadline is slightly later than usual this year — April 17 — but it’s now nearly upon us. So, if you haven’t filed your individual return yet, you may be thinking about an extension. Or you may...READ MORE >
Handle with Care: The Nanny Tax Rules
When you hire a nanny, housekeeper or other domestic worker, pay close attention to the tax rules. You must generally pay Social Security, Medicare and federal unemployment taxes on wages paid to domestic workers who are considered "employees"...READ MORE >
Best Choice: A Board of Directors or an Advisory Board?
To survive and thrive in a competitive marketplace, companies need to secure help and guidance from a wide range of sources. To do so, many companies create advisory boards, or more formally, a board of directors to help guide them...READ MORE >