Open Mobile Navigation
330.492.0094
NEWS Read the latest accounting and business news
< PREVIOUS
1 of 13
NEXT >

News

Best Accounting Firm
Canton Repository Readers Name 415 Group ‘Best Accounting Firm’ and ‘Best Tax Service’
6/28/2017
CANTON, Ohio (June 28, 2017) -- 415 Group earned the title “Best Accounting Firm” and “Best Tax Service” in the 2017 Best of the Best Awards by The Canton Repository. “We strive to provide our clients with exceptional...
READ MORE >
Tax Calendars
2017 Q3 tax calendar: Key deadlines for businesses and other employers
6/21/2017
Here are some of the key tax-related deadlines affecting businesses and other employers during the second quarter of 2017. 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 >
415 Group New Location
415 Group Moves to New Location as Firm Continues to Grow
6/19/2017
CANTON, Ohio (June 19, 2017) — 415 Group announced today its move to a new Jackson Township location to accommodate the firm’s growth. Now located at 4300 Munson Street NW in Canton, 415 Group provides certified public accounting,...
READ MORE >
School kids reading in a circle
Coverdell ESAs: The tax-advantaged way to fund elementary and secondary school costs
6/6/2017
With school letting out you might be focused on summer plans for your children (or grandchildren). But the end of the school year is also a good time to think about Coverdell Education Savings Accounts (ESAs) — especially if the children are...
READ MORE >
Image representing 4 digital marketing tips for every business
4 digital marketing tips for every business
6/6/2017
You’d be hard pressed to find a company not looking to generate more leads, boost sales and improve its profit margins. Fortunately, you can take advantage of the sales and marketing opportunities offered by today’s digital technologies...
READ MORE >
Car wrapped in box
Donating a vehicle might not provide the tax deduction you expect
6/6/2017
All charitable donations aren’t created equal — some provide larger deductions than others. And it isn’t necessarily just how much or even what you donate that matters. How the charity uses your donation might also affect your...
READ MORE >
Image representing To Forgive Is Not Always Divine
To Forgive Is Not Always Divine
6/6/2017
For tax purposes don't think that you're off the hook if another party forgives or cancels a debt. Under the "cancellation of debt" (COD) provision in the tax law, this seemingly generous act could result in an unexpected tax...
READ MORE >
Employee Listing Paper
Layoffs: Help Avoid Employment Lawsuits
6/6/2017
In today's economy companies in many industries are forced into massive layoffs to ensure their survival. While those cutbacks are necessary, the decision to let a significant portion of your workforce go carries potential legal, financial and...
READ MORE >
Surveillance Camera
When Can You Deduct Theft Losses?
6/6/2017
The tax law allows you to deduct your personal losses resulting from casualties and thefts within certain limits. And a "theft" for tax purposes isn't strictly limited to house burglaries or stolen cars. However, as you will see from several...
READ MORE >
Gavel & Mallet
Are Contingent Attorneys' Fees Tax Deductible?
6/6/2017
If you agree to a contingent-fee arrangement with your attorney, you may wonder whether the expense is deductible for federal income tax purposes. Unfortunately, the guidance on this controversial issue isn't favorable to taxpayers in most...
READ MORE >
Man with calculator tape
Reclassifying Business Expenses as Constructive Dividends
6/6/2017
To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your field of business. A necessary expense is one that's helpful and appropriate for your...
READ MORE >
Image representing Tax-Favored Retirement Plans For Partnerships
Tax-Favored Retirement Plans For Partnerships
5/26/2017
When it comes to setting up a tax-favored retirement plan — such as a 401(k) plan, a pension or profit sharing plan, or a simplified employee pension (SEP) plan — medical practice partnerships must follow essentially the same...
READ MORE >
Image representing Successful Strategies Create Successful Mergers
Successful Strategies Create Successful Mergers
5/26/2017
Acquiring another company and merging it with your business can be the most efficient way to grow. But many acquisitions don't pay off and it's often management issues -- not market conditions -- that get in the way. Other...
READ MORE >
Photo of Deductible Home Office
How a Deductible Home Office Affects a Sale
5/26/2017
If you use part of your home as an office and take deductions for related expenses on your annual tax return, can you claim a valuable federal tax break when you sell? Specifically, can you claim the home sale gain exclusion of up to $250,000...
READ MORE >
Photo of Wedding Bells
Wedding Bells and Taxes: Tax Issues to Consider Before Tying the Knot
5/26/2017
Summer — the traditional wedding season — is just around the corner. Marriage changes life in many ways. Here's how it may affect your tax situation. Marital Status Your marital status at year end determines your tax filing...
READ MORE >
Photo of Gains
Capital vs. Ordinary: Classifying Income and Losses Affects Your Taxes
5/26/2017
Most of the time, how to classify gains and losses from selling an asset is fairly straightforward. But there are some gray areas that require a closer look at the facts and circumstances, especially when real estate is involved, as a couple...
READ MORE >
Photo of Eyeglasses on Paper
What Does it Mean if the IRS Files a Lien?
5/17/2017
It's bad enough when borrowers can't pay off amounts owed to commercial creditors such as banks and other financial institutions. But people can find themselves in really hot water if they owe the IRS money. How a Levy Compares...
READ MORE >
Photo of Intellectual Property Word Cloud
Protect Your Most Prized Possessions
5/17/2017
One of the most costly - yet easily prevented - disasters for any business is the failure to secure ownership of intellectual property (IP). Unless you take the proper legal steps, you could find that your company doesn't own its...
READ MORE >
Photo of Layoff Notice
Uncle Sam Wants to Warn Employers About a Layoff Law
5/17/2017
If your business finds that it must lay off a large number of employees, make sure you are in compliance with a federal law that requires some employers to provide advance notification. This little-known law is called the Federal Worker...
READ MORE >
Photo of Employees
Employer Can Have Info about Whether Misclassified Workers Paid Tax
5/17/2017
The U.S. Tax Court recently ruled that federal law doesn't prohibit an employer looking to reduce its tax liability on misclassified workers from receiving information on whether the workers paid tax on the income. Background Businesses...
READ MORE >
Photo of Graduation
Financial Survival Tips for Recent College Graduates
5/17/2017
Graduation can be one of the most exciting — and intimidating — times in your life. You're officially an adult, and with that new-found independence comes financial responsibilities. No pressure, but the decisions you make today...
READ MORE >
Photo of the Word Refund
Turning Next Year’s Tax Refund into Cash in Your Pocket Now
6/26/2017
Each year, millions of taxpayers claim an income tax refund. To be sure, receiving a payment from the IRS for a few thousand dollars can be a pleasant influx of cash. But it means you were essentially giving the government an interest-free loan for...
Includes insights from Kathleen S. Krohn
READ MORE >
Image representing Tax Allocations When a Partner Exits
Tax Allocations When a Partner Exits
4/21/2017
Let's say a partner in your medical practice exits partway through the firm's tax year. How are partnership tax items for that year allocated between the departing partner and the remaining partners? There is more than one way to handle this...
READ MORE >
Image representing Maximize the Tax Deductions Available for Your Generosity
Maximize the Tax Deductions Available for Your Generosity
6/6/2017
The reporting requirements for claiming charitable contributions of cash on your tax return can be strict. If you don't follow them, your deductions may be disallowed by the IRS. You should also be aware that stringent rules also apply to...
Includes insights from Natalie M. Simmons
READ MORE >
Image representing To Franchise or Not to Franchise
To Franchise or Not to Franchise
4/21/2017
When you consider going into business for yourself, you have three basic choices: Start from scratch, buy an existing business, or look for opportunities to purchase a franchise. A franchise gives you the licensed right to use a service...
READ MORE >
Image representing Spring Cleaning: When Can You Purge Your Old Financial Records?
Spring Cleaning: When Can You Purge Your Old Financial Records?
4/21/2017
Feeling the urge to purge? April 18, 2017, was the deadline for individuals and C corporations to file their federal income tax returns for 2016 (or to file for an extension). Before you clear your filing cabinets of old financial records,...
READ MORE >
Image representing The Ins and Outs of Deducting Legal Expenses
The Ins and Outs of Deducting Legal Expenses
4/21/2017
Legal expenses incurred by individuals are typically not currently deductible under the federal income tax rules. Instead, they're most often treated as either personal outlays (which are nondeductible) or as part of the cost of acquiring an...
READ MORE >
Image representing How can you take customer service to the next level?
How can you take customer service to the next level?
4/19/2017
Just about every business intends to provide world-class customer service. And though many claim their customer service is exceptional, very few can back up that assertion. After all, once a company has established a baseline level of success in...
READ MORE >
Image representing Individual tax calendar: Key deadlines for the remainder of 2017
Individual tax calendar: Key deadlines for the remainder of 2017
4/19/2017
While April 15 (April 18 this year) is the main tax deadline on most individual taxpayers’ minds, there are others through the rest of the year that are important to be aware of. To help you make sure you don’t miss any important 2017...
READ MORE >
Image representing Look at your employees with cybersecurity in mind
Look at your employees with cybersecurity in mind
4/12/2017
Today’s businesses operate in an era of hyper-connectedness and, unfortunately, a burgeoning global cybercrime industry. You can’t afford to hope you’ll luck out and avoid a cyberattack. It’s essential to establish policies...
Includes insights from David H. Besse
READ MORE >
Image representing Can Pension Benefits Be Deducted as Alimony?
Can Pension Benefits Be Deducted as Alimony?
4/8/2017
When married couples split up, the terms of the divorce or separation agreement can have a major tax impact. For example, any amounts paid for alimony are deductible by the payor and taxable to the recipient. The Tax Definition of...
READ MORE >
Image representing Meal Deductions: Tax Rest for the Weary
Meal Deductions: Tax Rest for the Weary
4/8/2017
In one significant case, the U.S. Tax Court allowed a taxpayer to claim deductions for meals that stretch the limits of the traditional "sleep-or-rest" rule for business travelers. (Bissonnette, 127 TC No. 10) Background: Generally, you...
READ MORE >
Image representing Tips for Saving on Business Travel
Tips for Saving on Business Travel
4/8/2017
A business trip is meant to solidify relationships with clients and customers or to gain new ones. Or perhaps it's a time for sales calls and "meets and greets" with suppliers. In any event, the goal of business travel is generally to...
READ MORE >
Image representing Update on Home Mortgage Interest Deductions
Update on Home Mortgage Interest Deductions
4/8/2017
If you own a home with a mortgage, you should receive an IRS form from your lender each year with information that is used to claim an itemized deduction for qualified residence interest. For 2016, that form should include additional...
READ MORE >
Image representing Selling Your Practice in the Future? Eight Steps to Prepare
Selling Your Practice in the Future? Eight Steps to Prepare
3/24/2017
 It takes years to build up a successful medical practice that is respected and valued by the community. It can also take time to find a qualified buyer at a satisfactory price. However, you can take several steps now to help provide a...
Includes insights from Todd J. Ruggles
READ MORE >
Image representing Don't Sink Profitable Ideas
Don't Sink Profitable Ideas
3/24/2017
At many companies, the mindset of managers stifles innovation and inhibits profitability. Some of the best money making ideas come from people who work on the front lines. Yet, employees often hear the same negative responses when they try to...
READ MORE >
Image representing IRS: Swap Your Vacation Home in Tax-Deferred Exchange
IRS: Swap Your Vacation Home in Tax-Deferred Exchange
3/24/2017
Many taxpayers own vacation homes that they've rented out and also used as their personal residences. Can one of these homes be traded for another vacation home in a tax-deferred Section 1031 exchange? According to the IRS, the answer is...
READ MORE >
Image representing 4 Tips for Claiming Higher Education Credits
4 Tips for Claiming Higher Education Credits
3/24/2017
The Internal Revenue Code offers two federal income tax credits for post-secondary education expenses: the American Opportunity credit, and the Lifetime Learning credit. (See "The Basics of Higher Education Credits" at right.) The...
READ MORE >
Image representing Relying on Audit Techniques Guides
Relying on Audit Techniques Guides
3/24/2017
IRS examiners usually do their homework before meeting with taxpayers and their professional representatives. This includes reviewing any relevant Audit Techniques Guides (ATGs) that typically focus on a specific industry or audit-prone...
READ MORE >
Image representing Who can and who should take the American Opportunity credit?
Who can and who should take the American Opportunity credit?
3/21/2017
If you have a child in college, you may be eligible to claim the American Opportunity credit on your 2016 income tax return. If, however, your income is too high, you won’t qualify for the credit — but your child might. There’s one...
READ MORE >
Image representing The power of collaborative management
The power of collaborative management
3/10/2017
Many business owners are accustomed to running the whole show. But as your company grows, you’ll likely be better off sharing responsibility for major decisions. Whether you’ve recruited experienced managers or developed “home...
READ MORE >
Image representing IRS: Swap Your Vacation Home in Tax-Deferred Exchange
IRS: Swap Your Vacation Home in Tax-Deferred Exchange
3/10/2017
Many taxpayers own vacation homes that they've rented out and also used as their personal residences. Can one of these homes be traded for another vacation home in a tax-deferred Section 1031 exchange? According to the IRS, the answer is "yes" under...
READ MORE >
Image representing The Effects of Venture Capital Constriction
The Effects of Venture Capital Constriction
3/10/2017
Economic shifts can produce a constriction in the flow of venture capital and that is generally bad news for the technology and start-up arena. While innovation may continue, consumers may not benefit. Venture capitalists who invest in start-up...
READ MORE >
Image representing Converting an Unincorporated Business Into an S Corp
Converting an Unincorporated Business Into an S Corp
3/10/2017
 The federal self-employment (SE) tax just keeps going higher and higher. If you've reached the breaking point, there may be a way to tame the SE tax beast by converting your existing unincorporated small business into an S...
Includes insights from Holly L. Lieser
READ MORE >
Image representing There's Still Time to Set Up a SEP for 2016
There's Still Time to Set Up a SEP for 2016
3/10/2017
Simplified Employee Pensions (SEPs) are stripped-down retirement plans intended for self-employed individuals and small businesses. If you don't already have a tax-favored retirement plan set up for your business, consider establishing a SEP —...
READ MORE >
Image representing When an elderly parent might qualify as your dependent
When an elderly parent might qualify as your dependent
3/7/2017
It’s not uncommon for adult children to help support their aging parents. If you’re in this position, you might qualify for the adult-dependent exemption. It allows eligible taxpayers to deduct up to $4,050 for each adult dependent...
READ MORE >
Image representing Tangible property safe harbors help maximize deductions
Tangible property safe harbors help maximize deductions
2/28/2017
If last year your business made repairs to tangible property, such as buildings, machinery, equipment or vehicles, you may be eligible for a valuable deduction on your 2016 income tax return. But you must make sure they were truly...
READ MORE >
Image representing Websites That Rate Physicians Are Slow to Catch On
Websites That Rate Physicians Are Slow to Catch On
2/23/2017
Studies show that only a handful of adults are visiting and using information from websites that rate physicians. For example, more than 80 percent of California-based adults say they use the Internet for health-related information, such as medical...
READ MORE >
Image representing Good PR Can Help Your Company Avoid Litigation
Good PR Can Help Your Company Avoid Litigation
2/23/2017
As you already know, public relations professionals can help your company get publicity about the products or services you provide. But a good public relations program can also help your company avoid litigation. Premises liability is one...
READ MORE >
Image representing Arbitration Agreements Save Headaches and Dollars
Arbitration Agreements Save Headaches and Dollars
2/23/2017
If an employee accuses your company of discrimination and takes you to court, the ensuing battle could take years and cost thousands of dollars. When it's all over, neither side may have much to show for it. How Arbitration Works Not all...
READ MORE >
< PREVIOUS
1 of 13
NEXT >
© 2017 All rights reserved.