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415 Group News

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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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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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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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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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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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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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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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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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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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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Handshake
More Acquisitions Signal Change in Accounting Industry
8/9/2018
Independent Firms Must Find Their Niche Within the accounting industry, a growing trend is emerging. Across the country, large corporate accounting firms are rapidly acquiring midsize firms. While these acquisitions have created obstacles for some,...
Includes insights from Richard L. Craig
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volunteers
What you can deduct when volunteering
8/3/2018
Because donations to charity of cash or property generally are tax deductible (if you itemize), it only seems logical that the donation of something even more valuable to you — your time — would also be deductible. Unfortunately,...
Includes insights from Mikaela E. Raydo
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Portrait of New Employees
415 Group Grows Its Commitment with Nine New Hires
8/2/2018
Canton, Ohio (August 2, 2018) — 415 Group, a certified public accounting, business consulting and IT services firm, announced today the hiring of nine associates: Kandaze Bresnahan, Associate Ron Butler, Senior Manager Cody Ciesielczyk,...
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inventory
Is your inventory getting the better of you?
7/26/2018
On one level, every company’s inventory is a carefully curated collection of inanimate objects ready for sale. But, on another, it can be a confounding, slippery and unpredictable creature that can shrink too small or grow too big —...
Includes insights from Matt D. Campanale
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415 Group MSP 501 Winner
415 Group Ranks Among Top 501 Global Managed Service Providers
7/24/2018
CANTON, Ohio (July 24 , 2018) – 415 Group, an accounting, business consulting and IT services firm, ranks as one of the top 501 IT managed service providers (MSP) worldwide. In the 2018 list released by Channel Futures, the firm is recognized...
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business
Should Your Business Be a C Corporation or a Pass-Through Entity?
7/3/2018
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...
Includes insights from Chad R. Isler
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withholding
Do you need to adjust your withholding?
6/18/2018
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. Giannetti
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Image representing Plain Dealer Once Again Names 415 Group a Top Workplace
Plain Dealer Once Again Names 415 Group a Top Workplace
6/17/2018
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...
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For Sale
Timing and Taxes: Two Critical Issues when Buying or Selling a Home
5/29/2018
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. Simmons
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planning
Get started on 2018 tax planning now
5/16/2018
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. Ruggles
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NOL
Deducting Pass-Through Business Losses
5/4/2018
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. Schatz
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For Sale
7 ways to prepare your business for sale
4/25/2018
For some business owners, succession planning is a complex and delicate matter involving family members and a long, gradual transition out of the company. Others simply sell the business and move on. There are many variations in between, of course,...
Includes insights from Dominic G. Reolfi
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deduction
Sec. 179 expensing provides small businesses tax savings on 2017 returns — and more savings in the future
3/21/2018
If you purchased qualifying property by December 31, 2017, you may be able to take advantage of Section 179 expensing on your 2017 tax return. You’ll also want to keep this tax break in mind in your property purchase planning, because the Tax...
Includes insights from Brian E. Raber
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College students
Families with college students may save tax on their 2017 returns with one of these breaks
2/28/2018
Whether you had a child in college (or graduate school) last year or were a student yourself, you may be eligible for some valuable tax breaks on your 2017 return. One such break that had expired December 31, 2016, was just extended under the...
Includes insights from Carol J. Polatas
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percentage
How to Set Up an IRS-Approved Family Loan
2/21/2018
Today's relatively low-interest-rate environment makes it easy to loan money to family members on favorable terms with full IRS approval. Here's a rundown of what the law covers and why now might be a good time to set up loans. Nothing in the tax...
Includes insights from Kristine R. Giannetti
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QuickBooks Enterprise 2018
QuickBooks Enterprise: Product Update
2/14/2018
  You can Boost profits by Retaining Customers.  You want to make your customers feel good, do small things for them, fix their problems, create a positive environment and Be Real. Read more in this QuickBooks Resource Center...
Includes insights from Barbara D. Hupp
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Young Couple examining iPad
How Might the New Tax Reform Law Affect You?
2/5/2018
President Trump and Republican members of Congress say the Tax Cuts and Jobs Act (TCJA) will bring $3.2 trillion in tax cuts. Now that the bill has passed, everyone wants to know how much they'll save. Unfortunately, the tax bill won't be...
Includes insights from Mikaela E. Raydo
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glasses with social security card
Maximize Social Security Benefits When You Retire
1/8/2018
Get the most from Social Security. Younger retirees face a harsh penalty for working part-time. For every $2 earned over $17,040 in 2018 (up from $16,920 in 2017), you lose $1 in Social Security benefits. In the year you reach full retirement...
Includes insights from Nathanial D. Arps
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Portrait of Dan Kloha
President Trump Signs Tax Bill into Law
12/22/2017
Our team is hard at work reviewing the details of the new law. There will be challenges and opportunities for businesses and individuals alike, but your advisors at 415 Group are available to help you navigate the changes. Some of the major impacts...
Includes insights from Dan K. Kloha
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Frank Monaco CPAmerica Board of Directors Announcement
415 Group Partner Frank Monaco Joins CPAmerica International 2018 Board of Directors
12/20/2017
The firm strengthens its team with several promotions, new hires CANTON, Ohio (Dec. 10, 2018) — 415 Group, a certified public accounting and business consulting firm, today named Chad Isler partner. Isler joins the firm’s ten other...
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415 Group logo - Color
415 Group Names Five New Partners After Year of Record Growth
11/16/2017
CANTON, Ohio – 415 Group, a certified public accounting and business consulting firm, has named five new partners to its management team. Managing Partner Frank Monaco announced today the firm’s new partners include: David Besse,...
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Dave Talenda - headshot
415 Group Adds New Talent to Their Team
11/16/2017
David Talenda brings experience and expertise to the role of partner CANTON, Ohio – 415 Group, a certified public accounting and business consulting firm, announced today the addition of David Talenda, CPA, MBA as partner. “David...
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Tax Reform with magnifying glass and white house
House GOP Unveils Plan for Major Tax Reform
11/8/2017
House Republicans released a tax bill on Nov. 2, which proposes major changes to the Internal Revenue Code. The proposal would overhaul components of the tax code, including: Corporate Tax Rate: The bill lowers the maximum corporate tax rate from...
Includes insights from Dan K. Kloha
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Hurricane on map
New Legislation Offers Tax Relief for Businesses Impacted by Hurricanes
11/1/2017
A possible retention tax credit is available for companies related to the wages that were paid to employees during the time the business was inoperable as a result of the hurricanes in 2017. The Disaster Tax Relief and Airport and Airway Extension...
Includes insights from Kristine R. Giannetti
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Man consolidating receipts
Inadequate Records Lead to Unfavorable Results for Taxpayers
11/1/2017
Federal tax law allows deductions for many items, such as legitimate business expenses and charitable donations. But, if you claim deductions on your tax return, you also must maintain adequate records to support them. If your tax return is...
Includes insights from Christina M. Schatz
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Race car
Accelerate your retirement savings with a cash balance plan
10/11/2017
Business owners may not be able to set aside as much as they’d like in tax-advantaged retirement plans. Typically, they’re older and more highly compensated than their employees, but restrictions on contributions to 401(k) and...
Includes insights from David J. Talenda
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QuickBooks 2018 Desktop
QuickBooks Enterprise: 9 Features of the 2018 Edition
10/4/2017
1.  Save time merging vendors Do you import your charges from your credit card and end up with multiple vendors in your list? Now, you can easily identify duplicate vendors and merge four at a time. You can also choose a master vendor and pick...
Includes insights from Barbara D. Hupp
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415 Group Logo
Trump Administration Proposes Major Tax Overhaul
9/28/2017
The Trump administration released on Wednesday a draft of its proposed tax reform to the public, outlining several key items that could significantly impact taxpayers, if it becomes law. These changes would not only impact businesses but individual...
Includes insights from Todd J. Ruggles
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calculator and pie chart with worker arms
Revenue Recognition for Contracts: Changes Coming Soon
9/22/2017
Revenue is the top line of your company's income statement. So, it tends to receive a lot of attention from investors, lenders and other stakeholders. Why? Changes in revenue can tell whether your company is growing or declining. Moreover,...
Includes insights from Raymond A. Maynard
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QuickBooks Logo
QuickBooks Enterprise: What is Changing and What is Staying the Same
9/14/2017
Starting on Sept. 18, Intuit will be migrating QuickBooks Enterprise customers to a new subscription plan on the customer’s annual renewal date. The QuickBooks Enterprise Full Service Plan will be discontinued and customers will be migrated to...
Includes insights from Barbara D. Hupp
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Image representing To Franchise or Not to Franchise
To Franchise or Not to Franchise
8/17/2017
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...
Includes insights from Richard L. Craig
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Best Accounting Firm
Canton Rep Readers Name 415 Group Best Accounting Firm and 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...
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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,...
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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
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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
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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
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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
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Image representing A Buy-Sell Agreement Can Protect Your Practice and Minimize Disputes
A Buy-Sell Agreement Can Protect Your Practice and Minimize Disputes
3/7/2017
 In the wake of health care reform, you might find your practice inundated with new patients. With the extra workload, you might want to hire one or more physicians to help out. If so, and if these physicians intend to take an ownership share...
Includes insights from Chad R. Isler
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Image representing What can a valuation expert do for your succession plan?
What can a valuation expert do for your succession plan?
2/23/2017
 Most business owners spend a lifetime building their business. And when it comes to succession, they face the difficult decision of whether to sell, dissolve or transfer the business to family members (or a nonfamily successor). Many...
Includes insights from Dominic G. Reolfi
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