WINTER NEWSLETTER (CLICK)
Frank, Seringer & Chaney joins Walthall, Drake & Wallace LLP Walthall, Drake & Wallace LLP has completed the merger of the accounting and business consulting firm of Frank, Seringer & Chaney, of Amherst, Ohio and Wooster, Ohio into its practice. Frank, Seringer & Chaney has been providing accounting and business consulting services since 1951.
Frank, Seringer & Chaney will be a practice unit of Walthall, Drake & Wallace LLP CPA’s, effective November 1, 2012. All employees will join WD&W at the 197 North Leavitt Road, Amherst, Ohio and 527 Portage Road, Wooster Ohio offices.
As part of the acquisition, Richard L. Zahratka, CPA, James J. Czarney, CPA, Jon A. Briggs, CPA, and Scott Preising, CPA will be principals of the firm.
This combination will provide WD&W and Frank, Seringer & Chaney, Inc., CPA's clients a wider array of business services including: strategic planning, estate planning, financial forecasts and projections, litigation support and business valuations, in addition to specialized expertise in Construction, Healthcare, Manufacturing, Real Estate, Not-For-Profit, Oil/Gas plus accounting and tax matters.
Frank, Seringer & Chaney, Inc., CPA's began the firm in Amherst Ohio in 1951 and then opened the Wooster offices in 1958.
Planning for Possible Changes in Your Audit Engagement As you plan for your next financial statement audit, there are changes in auditing standards that may impact your engagement. Statements on Auditing Standards (SAS) Nos. 122-125 (referred to as the Clarified Auditing Standards) introduce some changes that go into effect for financial statement audits for periods ending on or after December 15, 2012. For most companies, that means they will be effective for the year ending December 31, 2012 or later. We are provided a summary you can review to begin familiarizing yourself with the changes. Some of the changes will affect all audit engagements, while others only apply in certain circumstances. Our goal is ensure a smooth transition to the new audit requirements so we will be discussing the changes that will impact your audit as we begin to plan your engagement. Some of the changes that may affect all audit engagements:
Still time to quality for Invest Ohio. InvestOhio is created to help increase jobs and provide capital for small businesses. InvestOhio is a joint effort on behalf of the Ohio Department of Development and the Ohio Department of Taxation.
The Gift That Keeps on Giving- Roth Conversions- An option with many benefits. Roth IRA conversions offer benefits to both the account owner and beneficiaries. Conversions in 2012 will be subject to the tax rates currently in effect, which are quite low in comparison tohistorical rates....
We Just Can't Bury Our Heads in the Sand….New Regulations and Guidance on the Tax Treatment of Repairs or Improvements to Tangible Property Over the past nine months, tax practitioners have diligently educated and challenged the new IRS regulations dealing with the capitalization of expenses incurred to “to acquire, produce, or improve tangible property". These regulations are effective for tax years beginning on or after January 1, 2012 and apply to most businesses. Although these regulations are temporary, they are effective for three years as if they are final regulations.
NFP Form 990 Board Review- Tax Credits Tips and More Nonprofit organization regulators have established a strong correlation between good governance and ompliance with laws and regulations.To assist nonprofit board members to properly review the organization’s Form 990, we have posted a Form 990 Review Checklist as a helpful tool in the nonprofit practice group section of our website.
Women: Living in the Sandwich Generation At a time when your career is reaching a peak and you are looking ahead to your own retirement, you may find yourself in the position of having to help your children with college expenses or the financial challenges of young adulthood while at the same time looking after the needs of your aging parents. Squeezed in the middle, you're in the "sandwich generation"--a group loosely defined as people in their 40s to 60s who are "sandwiched" between caring for children and aging parents.
Are You Saving Money to Plan for the Future? Many understand the importance of saving money, but few of us embrace the work involved. With many retirement options available, it can be hard to know which path will be right for you. In order to get started, it is important to know your options and make the best out of them. Here are three tips to help you get underway:
Happy Holidays from WD&W
DISCLOSURE UNDER UNITED STATES TREASURY RULES - If this communication contains any tax advice, such advice is not intended or written by the practitioner to be used, and cannot be used by the taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer.