Understanding Self Employment Tax
If you own a growing, unincorporated small business, you might find self-employment (SE) tax bills to be a significant concern. The SE tax ensures that Social Security and Medicare taxes […]
Category: Private Business Advisory
Protecting Employee 401(k) Savings from Fraud
Recently, a 401(k) participant lost approximately $740,000 in an intricate scam orchestrated by overseas criminals. Alarming cases also reveal that friends, family, and even employers have been implicated in 401(k) […]
Ohio Department of Taxation Issues Refund Error Notice
The Ohio Department of Taxation (ODT) has informed the OSCPA that a limited number of taxpayers received incorrect refunds or inflated credit carryforward amounts due to a system error. Refund […]
Building Retirement with a Solo 401(k)
If you’re self-employed and operate a small business without any employees (other than your spouse), a solo 401(k) plan is a great option for establishing a retirement plan. This plan […]
FinCEN Extends BOI Reporting Deadline for Hurricane Victims
Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced that victims of Hurricanes Milton, Helene, Debby, Beryl, and Francine will have an additional six months to […]
New CTA Requirements for LLC Owners
Attention LLC Owners – Time is running out to comply with the new CTA requirements! Did you know that most limited liability companies (LLCs) are subject to a new filing […]
Do Marketability Discounts Apply to Controlling Business Interests?
Marketability discounts commonly apply when valuing minority interests in closely held businesses, but many valuation experts believe they may also apply to controlling business interests. These discounts reflect the uncertainty […]
Do You Have a Fraud Disaster Plan?
Your business likely has a disaster plan for emergencies like fires, natural disasters, or terrorist attacks that could disrupt operations and endanger lives. While a fraud contingency plan might […]
Addressing Workers’ Comp Fraud
Workers’ compensation insurance offers essential medical care and financial support to employees injured or incapacitated at work. Unfortunately, this benefit is sometimes exploited by dishonest individuals. According to the Coalition […]
Taxes on Real Estate Gains
Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps this gain comes from indirect real estate […]
Alert: Does BOI Reporting Apply to Your Business?
This is a reminder that your business may be required to comply with new beneficial ownership information (BOI) reporting rules that took effect in 2024. Who needs to be aware […]
Tax Responsibilities When Closing a Business
While many facets of the economy have improved this year, many factors have caused businesses to close their doors. If this is your situation, we can help you, including taking […]
