How to Get Ready for Tax Filing

Seven steps of preparation Now that the holidays are over, another event that is looming on the horizon may not be a cause for celebration: filing your tax return. Nevertheless, you can relieve some of the stress by having your return professionally prepared. There still is a little “work” required on your part, but it
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Five Year-End Tax Ideas for Businesses

Top strategies for small-business owners Don’t think that year-end tax planning is strictly limited to individuals. A calendar-year business can also keep taxes for 2015 to the bare minimum with some astute planning at the end of the year. Here are five techniques for consideration by small-business owners. 1. Be flexible on Section 179. Currently,
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Seven Ways to Build a Corporate Culture

Practical steps for workplace improvement Does your business maintain a favorable working environment? This could mean the difference between a successful company that continues to grow and a struggling enterprise that weighs itself down. Of course, building a winning corporate culture is easier said than done, but here are seven steps that may push you
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Part 3: Sales Comparison Approach to Real Estate Valuation

Sales Comparison Approach to Valuation: We are now moving into the 3rd approach to valuation, Sale Comparison Approach.  We started off with the Cost Approach and in our last discussion we explored the Income Approach to Valuation.  The Sale Comparison Approach to value compares a subject property’s characteristics with those of comparable properties which have
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What is the Commercial Activity Tax?

The commercial activity tax (CAT) is an annual tax imposed on the privilege of doing business in Ohio, measured by gross receipts from business activities in Ohio.  Businesses with Ohio taxable gross receipts of $150,000 or more per calendar year must register for the CAT and file all applicable returns. Tax payers with gross receipts
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Ohio Real Estate Valuation

A property owner has three opportunities to appeal their property’s estimated fair market value. The first opportunity is by participating in an Informal Hearing with the County’s appraiser.  This is applicable in revaluation or update years which are specific for each county in Ohio.  This process typically takes place in the Fall of the year
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Understanding State Tax Nexus

Many business owners ask, if my business has an opportunity to sell to a customer in a new state.  Do I now need to file tax returns in that state? Exciting new opportunities can also bring about new regulations and requirements for business owners and management.  It is important to understand state and local laws
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Cost Approach to Real Estate Valuations

Picking up where we left off in our last conversation there are three common approaches to valuation and in this series we will explore each type.  The first of which is the Cost Approach, commonly used for new or proposed construction valuation and to provide a highly effective way to verify the market and income
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What’s the Best Entity Structure for a Small Business?

In my last blog, I discussed the different entity structures for a small business.  In this blog, I compare and contrast the Partnership versus the S Corporation.  It is important to evaluate the different options with a full understanding of the advantages and disadvantages.                      
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A Tax Break that is Actually Free

Tax credits and incentives usually come at a cost that is tied to some kind of increased spending for the taxpayer.  However, there is a tax incentive for “manufacturer’s” that is free. It’s referred to as the Section 199 deduction (referring to the section of the Internal Revenue Code where the deduction is explained) and
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