Early credit scores matter

Mar. 23, 2017

March is Credit Education Month! Most high school and college students are too busy thinking about final exams to worry about their credit score, but poor financial choices now can […]

What to do if you receive an IRS suspicious return letter

Mar. 22, 2017

Tax-related identity theft spikes during the filing season. Many taxpayers discover for the first time that they are victims of identity theft when they receive an IRS suspicious return letter. […]

Make sure your nonprofit still exists under Ohio law

Mar. 21, 2017

Almost all nonprofit corporations incorporated in Ohio need to file a verified statement of continued existence with the secretary of state. This form provides the corporate name, place where the […]

What you should know about maintaining automobile expense logs

Mar. 16, 2017

If you use your car for business purposes, you may have learned that keeping track and properly logging the variety of expenses you incur for tax purposes is not always […]

Consolidation guidelines for nonprofits

Mar. 14, 2017

Does your nonprofit organization have partial ownership over a for-profit entity? Is your organization a general or limited partner for that organization? The FASB recently issued an amended Accounting Standards […]

Is your nonprofit in compliance?

Mar. 07, 2017

In 2016, the IRS embarked on a plan to check on nonprofit compliance to ensure organizations meet the requirements for exemption and are in compliance with all applicable federal tax […]

What is transferee tax liability?

Feb. 16, 2017

The prudent businessperson is always cautious when he or she is offered a great bargain on real estate, equipment, a business interest, or some other property that just might be […]

How do I establish a profit motive for business activities?

Feb. 13, 2017

The IRS has rules that limit the deductibility of expenses and losses from a hobby or activity not engaged in for profit. If the IRS determines that an activity is […]

Deducting receivables as bad business debts

Feb. 08, 2017

Many businesses continue to face customers struggling to pay outstanding bills for services or goods. The Tax Code provides relief to businesses faced with the inability to collect on accounts […]

Keep an ‘arms length’ when transacting with family members

Feb. 01, 2017

Although the old adage warns against doing business with friends or relatives, many of us still do, especially where personal or real property is involved. While the IRS generally takes […]